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JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE
UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE
SECURITIES DESCRIBED HEREIN.
Reference is made to the stock exchange announcement from poLight ASA (the
“Company”) on 16 April 2020 regarding the completion of a private placement of
727,273 new shares in the Company at a subscription price of NOK 55 per new
share (the “Private Placement”), raising gross proceeds of approximately NOK 40
million. Reference is furthermore made to the approval by the general meeting of
the Company on 28 May 2020 of a share capital increase of up to 181,818 new
shares (the “Offer Shares”), each at a subscription price of NOK 55 (the
“Subsequent Offering”).
The subscription period in the Subsequent Offering commences today, on 3 June
2020 at 09:00 hours CEST, and will end on 16 June 2020 at 16.30 hours CEST.
In the Subsequent Offering, the Company’s shareholders as of 16 April 2020 (as
registered in the VPS on 20 April 2020 (the “Record Date”)), except (i)
shareholders who were allocated shares in the Private Placement, and (ii)
shareholders who are resident in a jurisdiction where such offering would be
unlawful or would require any filing, registration or similar action (other than
publishing of a prospectus in Norway) (the Eligible Shareholders) (the “Eligible
Shareholders”) will be granted non-transferable subscription rights (the
“Subscription Rights”) that, subject to applicable law, gives a right to
subscribe for and be allocated Offer Shares at the subscription price of NOK 55
(the “Subscription Price”), which is equal to the subscription price in the
Private Placement.
Eligible Shareholders will be granted approximately 0.03786 Subscription Rights
for each share registered as held on the Record Date, however rounded down to
the nearest whole Subscription Right. Each whole Subscription Right provides a
right to subscribe for, and be allocated, one Offer Share at the Subscription
Price. Subscription Rights that are not used to subscribe for Offer Shares
before 16.30 hours CEST will have no value and will lapse without compensation
to the holder. Over-subscription is permitted. Subscription without Subscription
Rights will not be permitted.
Eligible shareholders who wish to participate in the Subsequent Offering may
subscribe through the VPS Online Subscription System or by completing and
submitting to the subscription form for the Subsequent Offering (available in
the Prospectus, as defined below) in accordance with the procedures described in
the Prospectus.
A prospectus dated 29 May 2020 (the “Prospectus”) has been prepared in
connection with the Subsequent Offering. The Prospectus contains further
information about the Company and the terms and conditions of the Subsequent
Offering. The Prospectus is not subject to review by the Norwegian Financial
Supervisory Authority nor any other authority but has been submitted to the
Norwegian Register of Business Enterprises in accordance with section 7-8 of the
Norwegian Securities Trading Act.
The Prospectus will be made available at the Company’s website, www.polight.com,
and at www.abgsc.no and www.arctic.com.
ABG Sundal Collier ASA and Arctic Securities AS act as managers in the
Subsequent Offering. Advokatfirmaet CLP DA acts as Norwegian legal counsel to
the Company.
For additional information, please contact:
Øyvind Isaksen, CEO, poLight ASA: +47 90 87 63 98
About poLight ASApoLight offers a new autofocus lens which “replicates” the
human eye for use in devices such as smartphones, wearables, barcode, machine
vision systems and various medical equipment. poLight’s TLens® enables better
system performance and new user experiences due to benefits such as extremely
fast focus, small footprint, no magnetic interference, low power consumption and
constant field of view. poLight is based in Horten, Norway, with offices in
Finland, France and China and representation in Taiwan and Korea. For more
information, please visit https://www.polight.com
This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.
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