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fully underwritten by Anchor AS (“Anchor” and the “Rights Issue”).
Following delivery of the Offer Shares and the commission shares as
consideration for the underwriting, Anchor holds 4,294,883,957 shares,
representing approximately 93.13% of the shares and votes in the Company.
The board of directors of Anchor has resolved, effective from after close of
trading on the Euronext Oslo Børs today, to carry out a compulsory acquisition
of all remaining shares in the Company not owned by Anchor, pursuant to
section 4-25 of the Norwegian Public Limited Liability Companies Act. As a
consequence, Anchor has from such time become the sole owner of the Company.
The offered redemption price under the compulsory acquisition will be NOK
0.240 per share. Anchor has engaged PwC to carry out an independent valuation
of the Company. The valuation has resulted in a range, where the midpoint
reflects an equity value of the Company of USD 90 million, equal to
approximately NOK 0.182 per share. Through the valuation PwC has assessed the
value of the Company taking into account, among other things, the Company’s
financial position and capital structure, its earnings and cash flow
prospects, and trading of comparable listed companies. Anchor has resolved to
offer a compulsory acquisition redemption price per share that is higher than
the implied value pursuant to the independent valuation by PwC, after taking
into account the subscription price of NOK 0.2385 in the Rights Issue and the
trading price per share following completion of the Rights Issue.
The Offeror has deposited the total redemption amount for the remaining shares
into a designated account in a bank licensed to operate in Norway in
accordance with requirement set out in the Norwegian Public Limited Liability
Companies Act section 4-25 (5). Settlement of the redemption price is expected
to occur as soon as possible and is expected within 24 June 2026.
Any objections to, or rejection of, the offered compulsory acquisition
redemption price must be made at the latest by 18 August 2026. Former
shareholders of the Company who do not object to, or reject, the offered
compulsory acquisition redemption price within this deadline will be deemed to
have accepted the compulsory acquisition redemption price. A letter regarding
the compulsory acquisition will be sent to all former shareholders subject to
the compulsory acquisition whose addresses are known. In addition, the
compulsory acquisition will be announced through the electronic notice service
of the Norwegian Register of Business Enterprises.
Following the compulsory acquisition, Anchor will pursue a delisting of the
Company’s shares from Euronext Oslo Børs. A separate announcement will be made
regarding such delisting.
PwC has relied on information made available for the purposes of the valuation
and has not independently verified such information. PwC does not provide any
warranty as to the accuracy of such information. No shareholders may rely on
the valuation undertaken by PwC, including the conclusions referred to here,
and PwC does not accept any responsibility or duty of care related to the
valuation.
Contacts
Nils O. Kjerstad
IR Contact
Phone: +47 9135 6659
Email: nils.kjerstad@recsilicon.com
About REC Silicon
REC Silicon is a leading producer of advanced silicon materials, delivering
high-purity silicon gases to the solar and electronics industries worldwide.
We combine over 40 years of experience and proprietary technology with the
needs of our customers. Listed on the Oslo Stock Exchange (ticker: RECSI), the
Company is headquartered in Lysaker, Norway.
For more information, go to: www.recsilicon.com
This information is subject to disclosure under the Norwegian Securities
Trading Act, §5-12. The information was submitted for publication, through the
agency of the contact persons set out above, at 2026-06-15 16:45 CEST.
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