SchoutByNacht AS, a limited liability company 100% owned by Norwegian Crystals’ (NCR) Chief Executive Officer Gøran Bye, has today transferred 1 070 791 shares in NCR to Finance Resources ToDo AS, a limited liability company 100% owned by NCR’s Chief Financial Officer Øyvind Mølmann.

After this transaction, SchoutByNacht AS holds 1 224 093 shares in NCR, corresponding to 4.7% of the issued and outstanding shares, and Finance Resources ToDo AS holds 1 098 258 shares in NCR, corresponding to 4.2% of the issued and outstanding shares. Neither SchoutByNacht AS, Finance Resources ToDo AS, Mr. Bye nor Mr. Mølmann holds any other shares, warrants or options in NCR.

The background for the transaction is that Mr. Bye and Mr. Mølmann over the last two years have cooperated and used SchoutByNacht AS as a vehicle to co-invest in NCR through share purchases, the provision and conversion of convertible loans and participation in share issues in 2018 and 2019. Before the transfer, the joint holding totalled 2 294 884 shares in NCR, of which 1 744 105 shares are subject to the profit-sharing agreements entered into between SchoutByNacht AS as purchaser, and Energy Future Invest AS, Hafslund Handel AS, Vidsjå AS, Vintage Capital AS and Storstein AS as sellers – reference is made to notification of trade dated June 4, 2019. Finance Resources ToDo AS will step into the profit-sharing obligations for 813 798 shares, while SchoutByNacht AS will retain the obligation for 930 307 shares.

The transfer of shares is concluded at NOK 1.89457 per share, which equals the average acquisition price for the joint shareholding. There is no shareholders’ agreement or similar arrangement between SchoutByNacht AS and Finance Resources ToDo AS regarding their now independent shareholdings in NCR.


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