Fornebu, Norway 9 July 2019. Reference is made to the resolution by the annual general meeting of REC Silicon ASA on 9 May 2019, whereby it was resolved to issue 5 new shares to Umoe AS at a subscription price equal to par value. The issuance of 5 new shares has been registered with the Norwegian Register of Business Enterprises. Following registration, the share capital of REC Silicon ASA is NOK 279,820,066 divided on 2,798,200,660 shares, each with a par value of NOK 0.10. Each share represents one vote in the company's general meeting. After issuance of the new shares, Umoe AS owns 642,221,514 shares in REC Silicon ASA.
The share capital increase is made to facilitate the reverse share split resolved by the extraordinary general meeting on 9 May 2019. Pursuant to the general meeting's resolution, the Company's shares shall be combined in a ratio of 10:1, whereby 10 old shares will give 1 new share. The company will move forward with implementation of the reverse split and issue a separate announcement regarding time of implementation and other key information, in accordance with the Continuing Obligations of the Oslo Stock Exchange.
For further information, please contact:
James A. May II, Chief Financial Officer
Phone: +1 509 989 1023
Nils O. Kjerstad IR Contact
Phone: +47 9135 6659
About REC Silicon:
REC Silicon is a leading producer of advanced silicon materials, delivering high-purity polysilicon and silicon gas to the solar and electronics industries worldwide. We combine 30 years of experience and proprietary technology with the needs of our customers, with annual production capacity of more than 20,000 MT of polysilicon from our two US-based manufacturing plants. Listed on the Oslo Stock Exchange (REC.OL), the company is headquartered in Fornebu, Norway.
For more information, go to: www.recsilicon.com.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act