As authorized by the general meeting of 26 October 2011, the Board of Hofseth BioCare ASA made a resolution on the 31 October 2012 to issue 400,000 new shares in a private placement directed towards Magne Brauten and Dr. Bomi Framroze, for the execution of options to each subscribe 200,000 shares under their respective option agreements.
As that the capital increase was not registered in the "Foretaksregisteret" within three months after the board decision, the subscription rights was no longer valid.
Based on the authorizations mentioned above, the board has decided to issue 400,000 new shares in a private placement directed towards Mr. Brauten and Dr. Bomi Framroze for the execution of their subscription rights. The private placement was executed at a subscription price of NOK 1.00 per share.
After the transactions, total number of share outstanding in Hofseth BioCare ASA in 57,563,858.
Dr. Framroze is the Chief Scientific Officer in Hofseth BioCare ASA, and primary insider in the company. Following the transaction, Dr. Framroze holds 200,000 shares in Hofseth BioCare ASA. In addition, Dr. Framroze holds options to subscribing another 150,000 shares at NOK 5.00 per share.
For more information please contact:
Øystein Omvik, CFO Hofseth BioCare ASA
Tel: +47 9369 9400
Email: oystein.omvik@h-bc.no
About Hofseth BioCare:
Hofseth BioCare is a Norwegian biomarine company with the key objective to provide high value added biomarine ingredients for human applications. The Company is founded on the core value of sustainability and optimal use of natural resources. Through innovative production technology and logistics, Hofseth BioCare is able to preserve the quality of protein, calcium and oil extracted from fish off-cuts. Products that previously could only be used as animal feed can now be made suitable for human consumption. HBCs objective is thus to contribute to efficient use of marine resources and entering the higher profit market of quality ingredients for human applications.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
As that the capital increase was not registered in the "Foretaksregisteret" within three months after the board decision, the subscription rights was no longer valid.
Based on the authorizations mentioned above, the board has decided to issue 400,000 new shares in a private placement directed towards Mr. Brauten and Dr. Bomi Framroze for the execution of their subscription rights. The private placement was executed at a subscription price of NOK 1.00 per share.
After the transactions, total number of share outstanding in Hofseth BioCare ASA in 57,563,858.
Dr. Framroze is the Chief Scientific Officer in Hofseth BioCare ASA, and primary insider in the company. Following the transaction, Dr. Framroze holds 200,000 shares in Hofseth BioCare ASA. In addition, Dr. Framroze holds options to subscribing another 150,000 shares at NOK 5.00 per share.
For more information please contact:
Øystein Omvik, CFO Hofseth BioCare ASA
Tel: +47 9369 9400
Email: oystein.omvik@h-bc.no
About Hofseth BioCare:
Hofseth BioCare is a Norwegian biomarine company with the key objective to provide high value added biomarine ingredients for human applications. The Company is founded on the core value of sustainability and optimal use of natural resources. Through innovative production technology and logistics, Hofseth BioCare is able to preserve the quality of protein, calcium and oil extracted from fish off-cuts. Products that previously could only be used as animal feed can now be made suitable for human consumption. HBCs objective is thus to contribute to efficient use of marine resources and entering the higher profit market of quality ingredients for human applications.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.