Reference is made to the announcement by Scatec Solar ASA on 21 October 2020 where the Company announced the successful completion of a private placement raising gross proceeds in the amount of NOK 4,750 million and that the board of directors would consider to carry out a subsequent offering of up to 2,065,248 new shares in the Company (the “Subsequent Offering“). Subject to amongst other things the prevailing market price of the Company’s shares.
The Company has decided not to proceed with the Subsequent Offering. Since the announcement of completion of the Private Placement, the Company’s shares have traded on the Oslo Stock Exchange, with significant trading volume, at prices below the subscription price in the Private Placement of NOK 230. Accordingly, any shareholders wishing to reduce the dilutive effect of the Private Placement have had the opportunity to purchase shares in the Company in the market, at prices below what would have been the subscription price in a Subsequent Offering. Hence, the Board of Directors in the Company has resolved not to proceed with a Subsequent Offering.
For further information, please contact:
Mikkel Tørud, CFO
Tel: +47 976 99 144, email@example.com
Ingrid Aarsnes, VP Communication & IR
Tel: +47 950 38 364, firstname.lastname@example.org
About Scatec Solar ASA
Scatec Solar is an integrated independent renewable power producer, delivering affordable, rapidly deployable and sustainable clean energy worldwide. A long- term player, Scatec Solar develops, builds, owns, operates and maintains power plants and has an installation track record of more than 1.6 GW. The company has a total of 1.9 GW in operation and under construction on four continents.
With an established global presence and a significant project pipeline, the company is targeting a capacity of 4.5 GW in operation and under construction by end of 2021. Scatec Solar is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker “SSO”. To learn more, visit www.scatecsolar.com.