NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN OR SWITZERLAND, OR ANY OTHER JURISDICTION IN WHICH THE PUBLICATION, DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.
Sandvik, August 14 2012; Reference is made to the stock exchange announcement dated July 27, 2012 regarding, inter alia, the subsequent repair offering (the "Subsequent Offering") of minimum 1 and maximum 250,000,000 new shares (the "Offer Shares") in Renewable Energy Corporation ASA at a subscription price of NOK 1.50 per Offer Share.
The board of directors has today passed its formal resolution to carry out the Subsequent Offering. The Subsequent Offering will be carried out as described in the stock exchange announcement dated July 27, 2012. The subscription period for the Subsequent Offering will commence on August 20, 2012 and expire at 16:30 hours (CET) on September 3, 2012. An information letter that includes more information about the Subsequent Offering has been distributed to all shareholders that may subscribe for Offer Shares in the Subsequent Offering on August 13, 2012. The board resolution is available at www.recgroup.com.
For further information, please contact:
Mikkel Tørud, VP & IRO, phone: +47 976 99 144
Important notice
This announcement is not an offer for sale of securities in the United States or any other country in which such offer would be unlawful or would require a prospectus, registration or other measures. The securities referred to herein have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be sold in the United States absent registration or pursuant to an exemption from registration under the U.S. Securities Act. REC does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this announcement are not being made and may not be distributed or sent into the United States, Canada, Australia, Hong Kong, Japan or Switzerland, or any other jurisdiction in which such distribution would be unlawful or would require registration or other measures.