Reference is made to the stock exchange notice published by Spectrum ASA ("Spectrum" or the "Company") on 24 May 2012, where it was announced that the Board of Directors of Oslo Børs approved the Company's application for a transfer of its listing from Oslo Axess to Oslo Børs.
In order to complete the listing transfer, the Company must satisfy the requirement for the number of shareholders as specified in Section 2.4.2 of the Listing Rules.
To fulfil this requirement, the Company has on 22 June 2012 successfully completed a limited share dispersion exercise by way of a private placement of 115,280 new shares (equal to 0.3% of the existing outstanding shares) in the Company at a subscription price of NOK 21 per share. Gross proceeds from the private placement are NOK 2,420,880.
The shares will be issued by the board of Spectrum pursuant to the authorisation granted at the Company's annual general meeting on 22 May 2012. The preferential right of the shareholders to subscribe for shares is set aside, ref section 10-5 of the Public Limited Companies Act.
The new shares will be issued and tradable on Oslo Axess on or about 27 June 2012. The Company expects to be able to complete the transfer of listing from Oslo Axess to Oslo Børs shortly thereafter, subject i.a. to approval of summary listing document. Following completion of the private placement, the Company's share capital will consist of 39,120,653 shares each with a par value of NOK 1.
Swedbank First Securities is acting as Manager for the Private Placement and the listing on Oslo Børs.
This information is subject of the disclosure requirements acc. to §5-12 (Norwegian Securities Trading Act).
For further information; please contact: