The board of directors of Norwegian Finans Holding ASA refers to the resolutions on a private placement and a subsequent repair issue made by the board of directors on 13 February 2017, both at subscription price at NOK 76.75 per share.
After the said resolutions, the quoted price of the company's share has been lower than the said subscription price, in certain periods significantly below. At close of market yesterday, the quoted price was NOK 65,50 being approximately NOK 10 lower than the subscription price. Those of the company's shareholders who were not invited to participate in the private placement have, therefore, had the opportunity to neutralize the dilutive effect of the private placement by purchasing shares in the market at a price lower than the subscription price at NOK 76.75 per share.
Based on the development in the quoted price in the time period from 13 February 2017 and till today and also on an assumption that there will be no interest in participating in the subsequent repair issue due to the current stock market price, the board of directors has resolved to terminate the proposed subsequent repair issue.
This information is disclosable pursuant to the Norwegian Securities Trading Act section 5 12.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Norwegian Finans Holding ASA via Globenewswire