NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN
WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA,
JAPAN, HONG KONG OR THE UNITED STATES
(Oslo, Norway, 3 October 2016) Reference is made
to the stock exchange announcement dated 30 September 2016 and the
prospectus dated 30 September 2016 (the "Prospectus") concerning,
inter alia, the subsequent offering (the "Subsequent Offering") of
minimum 1 and maximum 13,333,334 new shares (the "Offer Shares") in
Hofseth BioCare ASA ("HBC" or the "Company", ticker "HBC"). The
subscription price in the Subsequent Offering is NOK 1.50, equal to
the subscription price in the NOK 165.4 million private placements
completed on 20 September 2016.
The subscription period for the subsequent Repair
Offering will commence today, 3 October 2016 at 09:00 CET and end
at 16:30 CET on 17 October 2016.
The Subsequent Offering is directed towards
shareholders in HBC as of 20 September 2016, as documented by the
shareholder register in the VPS as of expiry of 22 September 2016
(the "Record Date"), that were not allocated shares in the earlier
private placement ("Eligible Shareholders"), subject to applicable
restrictions in the relevant jurisdictions of the Eligible
Shareholders. Eligible Shareholders have been granted 0.16772555156
subscription rights (the "Subscription Rights") per each share
registered as held at the Record Date. Please note that the Company
have subsequent to the general meeting become aware that the number
of Allocation Rights each Eligible Shareholder is entitled to is
misquoted in the minutes from the general meeting. The correct
number of Allocation Rights each Eligible shareholder is entitled
to is 0.16772555156, which is equivalent to what now is stated in
the minutes from the extraordinary general meeting and the
prospectus. Oversubscription and subscription without Subscription
Rights is allowed.
The subscription rights are expected to have
limited financial value as the Company's shares are currently
traded at a lower price than the Subscription price. However, the
subscription price is lower than the trading price as of the date
when the Company announced that it contemplated a Subsequent
Offering. Subscription Rights that are not exercised before the end
of the subscription period will have no value and will lapse
without compensation to the holder. Holders of Subscription Rights
should note that subscriptions for Offer Shares must be made in
accordance with the procedures set out in the Prospectus and that
holding Subscription Rights in itself does not represent a
subscription for Offer Shares.
You are strongly encouraged to read the Prospectus
carefully before deciding if you would like to subscribe in the
Subsequent Offering. The Prospectus and the subscription form for
the Subsequent Offering will be available electronically at
www.hofsethbiocare.no and in hard copy at the Company's premises at
Molovegen 6, 6004 Ålesund, Norway.
For further information, please contact:
Jon Olav Ødegård, CFO of Hofseth BioCare ASA
Phone: +47 936 32 966
E-mail: joo@hofsethbiocare.no
About Hofseth BioCare ASA:
HBC is a Norwegian biotech company that offers
high-value ingredients and finished products for humans and pets.
The company is founded on the core values of sustainability,
traceability and optimal utilization of natural resources. Through
an innovative hydrolysis technology, HBC is able to preserve the
quality of salmon oil, proteins and calcium, prepared of fresh
salmon off-cuts. HBC's objective is to contribute to the efficient
use of marine resources and deliver quality products for
ingredients and finished consumer products in the nutrition
market.
Hofseth BioCare's headquarters are located in
Ålesund, Norway with branches in Oslo, Chicago, Mumbai and Tokyo.
HBC is listed on Oslo Stock Exchange Axess list with ticker "HBC".
More information about Hofseth BioCare at www.hofsethbiocare.com
and www.facebook.com/hofsethbiocare
This information is subject
of the disclosure requirements pursuant to section 5-12 of the
Norwegian Securities Trading Act.