Axactor - Allocation of Shares in the Subsequent Offering

OSLO, Norway, Dec 13, 2016 /PRNewswire/ --

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES

Reference is made to the stock exchange releases from Axactor AB (publ) ("AXA" or the "Company") published 13 October 2016 regarding the preliminary results of the subsequent repair offering of up to 50,000,000 new shares ("Offer Shares") in the Company (the "Subsequent Offering").

The subscription period in the Subsequent Offering expired at 16:30 hours (CET) yesterday, 12 December 2016.

Based on the Subsequent Offering being oversubscribed, the Board of Directors has resolved to allocate and issue 50,000,000 shares at NOK 2.60 per Offer Share raising gross proceeds of NOK 130,000,000. The allocation of the Offer Shares was made according to the allocation principles set out in the prospectus dated 25 November 2016.

Cipriano AS, a company owned by the Chairman of the Board of Directors, Einar J. Greve, was allocated 1,950,084 Offer Shares in the Subsequent Offering and will after the completion of the Subsequent Offering hold 15,600,084 shares in the Company representing 1.3% per cent of the share capital of the Company after completion of the Subsequent Offering.

Solan Capital AS, a company owned by the member of Board of Directors, Gunnar Hvammen, was allocated 5,143,079 Offer Shares in the Subsequent Offering and will after the completion of the Subsequent Offering hold 41,143,079 shares in the Company representing 3.4% per cent of the share capital of the Company after completion of the Subsequent Offering.

Alpette AS, a company owned by the CEO, Endre Rangnes, was allocated 1,278,187 Offer Shares in the Subsequent Offering and will after the completion of the Subsequent Offering hold 16,616,431 shares in the Company representing 1.4% per cent of the share capital of the Company after completion of the Subsequent Offering.

Latino Invest AS, a company owned by Executive Vice President, Strategy & Projects Johnny Tsolis, was allocated 800,000 Offer Shares in the Subsequent Offering and will after the completion of the Subsequent Offering hold 10,300,000 shares in the Company representing 0.8% per cent of the share capital of the Company after completion of the Subsequent Offering.

All subscribers being allocated Offer Shares will receive an allocation letter confirming the number of Offer Shares allocated to the subscriber and the corresponding amount to be paid. This allocation letter is expected to be distributed today, 13 December 2016.

Payment of the Offer Shares will fall due on or about 16 December 2016. The Offer Shares are expected to registered in the Swedish Companies Registry on or about 23 December 2016. Delivery of the Offer Shares to investors' accounts in the Norwegian Central Securities Depository (VPS) is expected to take place on or about 28 December 2016. Trading in the Offer Shares on the Oslo Stock Exchange is expected to commence on or about 28 December 2016 under the trading symbol "AXA".

Following registration of the share capital related to the Subsequent Offering, the Company will have 1,226,488,769 shares outstanding with a par value of SEK 0.50 per share. The total share capital will thus be SEK 613,244,384.50 following completion of the Subsequent Offering.

Carnegie and DNB Markets acted as Managers for the Subsequent Offering.

For further information, please contact:

Endre Rangnes
Chief Executive Officer
Mail: endre.rangnes@axactor.com
Tel: + 46 8 402 28 00
Cell Phone: +47 48 22 11 11

Geir Johansen
Chief Financial Officer
Mail: geir.johansen@axactor.com
Cell Phone: +47 47 71 04 51

Important information:

The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia).

This release is an announcement issued pursuant to legal information obligations, and is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction.

The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act. The Company 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 Australia, Canada, Japan or the United States. The issue, exercise, purchase or sale of subscription rights and the subscription or purchase of shares in the Company are subject to specific legal or regulatory restrictions in certain jurisdictions.

Neither the Company nor the Managers assumes any responsibility in the event there is a violation by any person of such restrictions.

The distribution of this release may in certain jurisdictions be restricted by law. Persons into whose possession this release comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. The Managers are acting for the Company and no one else in connection with the Subsequent Offering and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients or for providing advice in relation to the Subsequent Offering and/or any other matter referred to in this release.

Forward-looking statements:

This release and any materials distributed in connection with this release may contain certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect the Company's current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.

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SOURCE Axactor AB