Reference is made to the announcement by Norwegian Crystals AS (“Norwegian Crystals” or the “Company”) on 10 June 2020, whereof the Company was contemplating to offer 15,000,000 – 30,000,000 new shares (the “Offer Shares”) with gross proceeds of NOK 30 - 45 million (the “Private Placement”). 

The bookbuilding period for the Private Placement ended at 16:30 CEST on 17 June 2020. Despite interest for the Private Placement, the raising of a minimum NOK 30 million in gross proceeds was not achieved which was one of the conditions for the completion of the Private Placement. The Company has on this basis decided not to extend the bookbuilding period and to cancel the Private Placement in its initial form. 

The Company intends to continue the process with a limited number of larger potential investors that have requested more time for evaluation than the bookbuilding process provided. 

The Company has appointed Clarksons Platou Securities AS and DNB Markets, a part of DNB Bank ASA as Joint Lead Managers and Bookrunners (together referred to as the “Managers”). Advokatfirmaet Selmer AS was acting as legal advisor for Norwegian Crystals AS in connection with the Private Placement.

Contacts:
Gøran Bye, Chief Executive Officer; goran.bye@crystals.no; -+47 918 30 827
Øyvind Mølmann, Chief Financial Officer; oyvind.molmann@crystals.no; -+47 982 98 892