SOLON EIENDOM ASA
STOCK EXCHANGE ANNOUNCEMENT
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN, HONG KONG, SWITZERLAND OR THE UNITED STATES
Solon Eiendom ASA - Preliminary result of the Subsequent Offering
(Oslo, Norway, 30 January 2017) Reference is made to previous stock exchange announcements and the prospectus (the "Prospectus") dated 12 January 2017 concerning, inter alia, the subsequent offering (the "Subsequent Offering") of 666,666,666 new shares at a subscription price of NOK 0.15 per share in Solon Eiendom ASA ("Solon" or the "Company", ticker "SOLON").
The subscription period for the Subsequent Offering expired on 27 January 2017 at 16:30 CET. A preliminary counting of the subscriptions indicates that approximately 116 million shares have been subscribed for out of a total of 666,666,666 shares available. The underwriting consortium for the Subsequent Offering will subscribe for any shares that are not subscribed for by the eligible shareholders and other investors. The gross proceeds from the Subsequent Offering will be NOK 100 million.
Allocation of shares in the Subsequent Offering will be resolved by the Company's Board of Directors later today in accordance with the allocation criteria set out in the Prospectus. The final result of the Subsequent Offering will be published shortly thereafter. Letters of allocation will be distributed to investors giving notification of allocated new shares and the corresponding amount to be paid by each subscriber.
DNB Markets, a part of DNB Bank ASA, Arctic Securities AS and SpareBank 1 Markets are engaged as managers for the Subsequent Offering.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Further information
Simen Thorsen
Chairman of the Board, Solon Eiendom ASA
E-mail: st@soloneiendom.no
Cell Phone: +47 918 86 886
Andreas Martinussen
Chief Executive Officer, Solon Eiendom ASA
E-mail: am@soloneiendom.no
Cell Phone: +47 400 00 405
About Solon Eiendom
Solon Eiendom is a Norwegian residential real estate development company focusing on the Oslo and Akershus region. Solon Eiendom was established in 2006 by founder Simen Thorsen and investor Tore Aksel Voldberg. The company has since its incorporation delivered 570 units with a corresponding sales value of close to NOK ~3 billion and sold more than 800 units with a total sales price of more than NOK ~4 billion. Solon is listed on Oslo Børs (OSE:SOLON). More information
about Solon is available at www.soloneiendom.no.
Important Information
The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan, Hong Kong or the United States (including its territories and possessions, any state of the United States and the District of Columbia).
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act. The Company 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 Australia Canada, Japan, Hong Kong or the United States. The issue, exercise, purchase or sale of subscription rights and the subscription or purchase of shares in the Company are subject to specific legal or regulatory restrictions in certain jurisdictions. Neither the Company, DNB Markets, Arctic Securities nor SpareBank1 Markets assumes any responsibility in the event there is a violation by any person of such restrictions.
The distribution of this release may in certain jurisdictions be restricted by law. Persons into whose possession this release comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.
