NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN OR SWITZERLAND, OR ANY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.
Sandvika, August 17, 2012: Reference is made to the stock exchange announcement made by Renewable Energy Corporation ASA ("REC" or the "Company") on July 27, 2012 regarding, inter alia, the approval of the prospectus (the "Prospectus") prepared in connection with (i) the listing on Oslo Børs of 866,666,667 new shares in REC issued in connection with the private placement which was completed on July 31, 2012 at a subscription price of NOK 1.50 per new share and (ii) the subsequent offering and listing on Oslo Børs of up to 250,000,000 offer shares in REC at a subscription price of NOK 1.50 per offer share.
Reference is further made to the stock exchange announcement made by the Company on August 14, 2012 regarding the Company's decision to cease further funding of REC Wafer Norway AS. The information contained in the announcement of August 14, 2012 has been reflected in a supplementary prospectus (the "Supplementary Prospectus") which today has been approved by the Financial Supervisory Authority of Norway.
The Supplementary Prospectus is available together with the Prospectus at www.recgroup.com/subsequentoffering2012, www.arcticsec.no, www.dnb.no/emisjoner or www.nordea.no/rec or in hard copy by contacting Arctic Securities ASA, Haakon VIIs gate 5, P.O. Box 1833 Vika, N-0123 Oslo, Norway, Tel: +47 21 01 30 40.
About REC
REC is a leading vertically integrated solar energy company. REC produces polysilicon, wafers, cells and modules for the solar industry, and silicon materials for the electronics industry. REC also engages in project development in selected PV segments. Founded in Norway in 1996, REC employs around 3,100 people globally with revenues of more than NOK 13 billion in 2011. Please visit www.recgroup.com to learn more about REC.
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.
This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)