Beskrivning
| Land | Norge |
|---|---|
| Lista | Euronext Growth Oslo |
| Sektor | Industri |
| Industri | Jordbruk |
NOT FOR DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OF AMERICA AND THE DISTRICT OF COLUMBIA) (THE "UNITED STATES"), AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.
Sandnes, Norway, 16 November 2023: Reference is made to the stock exchange announcement published by Desert Control AS ("Desert Control" or the "Company") on 1 November 2023 regarding the commencement of the subscription period (the "Subscription Period") in the subsequent offering (the "Subsequent Offering") of up to 2,222,222 new shares in the Company (the "Offer Shares") at a subscription price of NOK 6.75 per share.
The Subscription Period expired today, 16 November 2023, at 16:30 hours (CET). The Company has been informed by the Managers (as defined below) that at the end of the Subscription Period, and based on a preliminary count, valid subscriptions had been received for a total of approximately 1,197,403 Offer Shares.
The final number is expected to be ready, resolved by the Company and allocated on 17 November 2023 in accordance with the timeline for the Subsequent Offering, as set forth in the national prospectus prepared therefor. Further announcements in respect of the Subsequent Offering and the Offer Shares will be made in due course.
The due date for payment of the Offer Shares is on or about 21 November 2023. Subject to due payment of the Offer Shares by the subscribers, the share capital increase relating to the Subsequent Offering is expected to be registered with the Norwegian Register of Business Enterprises on or about 27 November 2023 and the Offer Shares will thereafter be delivered to the VPS accounts of the subscribers to whom they are allocated, expected on or about 28 November 2023. First day of trading of the Offer Shares on Euronext Growth Oslo is expected on or about 28 November 2023. A separate announcement will be made when the share capital increase has been registered.
Arctic Securities AS and Pareto Securities AS are acting as managers for the Subsequent Offering (the "Managers"). Advokatfirmaet Selmer AS is acting as legal counsel to the Company, and Advokatfirmaet Thommessen AS is acting as legal advisor to the Managers.
For more information, please contact:
Ole Kristian Sivertsen
President and Group CEO
Email: oks@desertcontrol.com
Mobile: +47 957 77 777
Leonard Chaparian
Chief Financial Officer
Email: leonard.chaparian@desertcontrol.com
Mobile: +47 90 66 55 40
About Desert Control:
Desert Control specializes in climate-smart AgTech solutions to combat desertification, soil degradation, and water scarcity. Its patented Liquid Natural Clay (LNC) restores and enhances soil ecosystems to reduce water usage and improve the efficiency of fertilizers and natural resources for agriculture, forests, and green landscapes. LNC enables sandy and arid soil to retain water and nutrients, thus increasing crop yields, plant health, and ecosystem resilience while preserving water and natural resources by up to 50%.
For more information about Desert Control, visit https://www.desertcontrol.com.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.