NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, HONG KONG, JAPAN OR THE UNITED STATES.
Sandvika, Norway, May 14, 2010: The period for trading in subscription rights (ticker ["REC T"]) in the rights issue of Renewable Energy Corporation ASA ("REC") expires at 17:30 hours (Oslo time) today, May 14, 2010.
Holders of subscription rights (whether granted or acquired) must, in order to subscribe for new shares, submit a correctly completed subscription form to one of the following subscription offices:
| DnB NOR Bank ASA Registrar Department N-0021 Oslo Norway Fax: +47 22 48 29 80 | Nordea Bank Norge ASA Securities Services - Issuer Services P.O. Box 1166 Sentrum, N-0107 Oslo, Norway Fax: +47 22 48 63 49 | SEB Enskilda AS Filipstad Brygge 1 P.O. Box 1363 Vika N-0113 Oslo Fax: +47 21 00 89 62 |
Subscribers who are Norwegian citizens may also subscribe for new shares through the VPS online subscription system (or by following the links on www.dnbnor.no/emisjoner, www.nordea.no/REC, www.sebenskilda.no or www.recgroup.com/rightsissue, all of which will redirect the subscriber to the VPS online subscription system). Please refer to the prospectus dated April 30, 2010 for further information.
DnB NOR Markets, Nordea Markets and SEB Enskilda are the joint global coordinators and joint bookrunners for the rights issue.
For more information, please contact;
Bjørn Brenna, EVP & CFO, +47 900 43 186
Mikkel Tørud, VP & IRO, +47 976 99 144
For press & media:
Kristin Nordal, Corporate Communications Manager, +47 900 15 550
About REC
REC is a leading vertically integrated player in the solar energy industry. REC is among the world's largest producers of polysilicon and wafers for solar applications, and a rapidly growing manufacturer of solar cells and modules. REC is also engaged in project development activities in selected PV segments. Founded in Norway, REC is an international solar company, employing more than 3,000 people worldwide. REC had revenues in excess of NOK 9 billion in 2009. Please visit www.recgroup.com to learn more about REC.
* * * * * *
* Important information
This release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Hong Kong, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia). The release does not constitute or form part of any offer or solicitation to purchase or subscribe for securities in the United States. The shares mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"). The shares may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act. There will be no public offer of securities in the United States.
This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be offered or sold in the United States absent registration or an exemption from registration as provided in the Securities Act. REC does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this announcement are not being made and may not be distributed or sent into the Australia, Canada, Hong Kong, Japan or the United States.