26 June 2017

EAM Solar ASA ("EAM" or "the Company") has entered into a Litigation Funding Agreement ("LFA") with the international specialist litigation fund Therium Litigation Funding IC ("Therium"), which is part of the Therium Capital Management Group.

Following a comprehensive due diligence of the legal and financial claims of EAM, Therium has decided to invest in the Company's litigation claim against Aveleos, its directors, Enovos and Avelar.

The LFA secures part of the funding of legal costs of the various legal processes in Luxembourg, Italy and Switzerland that EAM is conducting in order to pursue justice and to recover the financial losses inflicted on EAM in conjunction with the P31 fraud. In addition, EAM has established an underwriting consortium that will underwrite an equity issue of NOK 30 million (see separate stock exchange notice).

Therium has committed to invest a maximum amount of up to EUR 2.3 million divided into three tranches of EUR 775 million for the three years from 2017 to 2019. Therium may choose not to invest more than the first tranche.

The LFA entitles Therium to receive the invested amount plus a contingency fee of 3X the committed funds under any incepted tranche of funding as a first priority payment from any litigation claim awarded to the Company, the fee is expected to be in the range of 5% to 10% of the anticipated claim award. The litigation funding by Therium is non-recourse and does not constitute a loan for EAM, and will be booked as revenues and construes a contingent liability in the event that EAM receives a litigation claim award.

Therium is one of the most established global litigation financing firms, founded in London and Jersey in 2009, with a presence in London, New York, Jersey, Spain, Italy, Scandinavia and Germany, and a market-leading track record of generating superior returns for its investors. In April 2015, Therium secured USD 300 million to invest in commercial litigation financing, the largest ever single investment in the litigation-funding sector, globally. Therium Nordic AS has been active since the spring of 2016 and has been well received by the legal communities and leading law firms in Oslo, Stockholm and Copenhagen. Therium Nordic AS has so far funded a number of meritorious claims for Nordic claimants.

For information, please contact:

Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no

About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.

 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.