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Reference is made to the stock exchange announcements on 31 August 2017
regarding a zero coupon NOK 50 million convertible note facility with attached
warrants (the "Convertible Note Facility"), on 4 October 2017 regarding, inter
alia, entry into definitive agreements for the Convertible Note Facility and on
27 October 2017 regarding approval by the general meeting of necessary
resolutions related to the Convertible Note Facility.
Element ASA (the "Company") has received a warrant exercise notice for 500,000
warrants issued under the Convertible Note Facility, each warrant at an exercise
price of NOK 1.30 which are the warrants issued in connection with Tranche 1 of
the Convertible Note Facility.
The share capital increase pertaining to the warrant exercise has now been
registered in the Norwegian Register of Business Enterprises. The Company's new
share capital is NOK 5,291,236.80 divided by 66,140,460 shares, each with a par
value of NOK 0.08. Each share gives one vote at the Company's general meeting.
The new shares will be listed and made tradable immediately.
Following the exercise of the 500,000 warrants, there are currently 0 notes
outstanding and 3,527,776 warrants outstanding under the Convertible Note
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
For further information, please contact:
Acting Chief Executive Officer
Telephone: +47 991 62 486
Chairman of the Board of Directors
Telephone: +356 7996 1497
About Element ASA
Element is an innovative project investment company within the mineral sector,
which continuously strives to create shareholder value at the lowest possible
risk. The company has as strategy to identify undervalued projects, closing in
on cash flow, where infrastructure and other basic work, if necessary, have in
large, been completed. The company's special focus is linked to projects within
new, and usually ground breaking technology, within its niches.
Ekstern link: http://www.newsweb.no/index.jsp?messageId=442138
Nyheten er levert av OBI.