Data Respons ASA: PRIVATE PLACEMENT SUCCESSFULLY COMPLETED
21 March 2018 - 8:02AM
NOT FOR RELEASE,
PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR
JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION
OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT
CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED
HEREIN.
Reference is made to the stock exchange release by Data Respons ASA
("Data Respons" or the "Company") regarding a contemplated private
placement (the "Private Placement") of up to 2,226,637 new shares
in the Company. The Company is pleased to announce that the Private
Placement has been fully subscribed and that the Board of Directors
has resolved to issue and allocate 2,226,637 new shares (the "New
Shares") at a subscription price of NOK 25.00 per share, raising
gross proceeds of NOK 56 million.
The Private Placement took place through an accelerated
book-building process after close of markets. The Private Placement
attracted strong interest from both existing shareholders as well
as new high quality institutional investors, and was significantly
oversubscribed.
The net proceeds from the Private Placement will be used to
strengthen the Company's balance sheet, increase the Company's
flexibility to finance the Company's organic and non-organic growth
strategy and for general corporate purposes.
The share issue has been carried out as a Private Placement in
order to take advantage of the current market conditions. The
Company believes it is well positioned for further profitable
growth, which forms the background for carrying out the Private
Placement and strengthening its equity capital. The board of
directors of the Company has considered different transaction
alternatives and concluded that the Private Placement structure
would best attend to the common interest of the Company and its
shareholders. Taking into consideration inter alia limited
discount, size of placement, utilisation of market
conditions, pre-announced and broadly marketed placement,
transaction risk, costs, as well as dilution effects,
the board of directors has, after thorough assessments found that
there are sufficient and objective grounds for setting aside
existing shareholders pre-emptive rights to subscribe for
shares.
The New Shares will be issued based on a board authorisation given
by the Annual General Meeting held 27 April 2017. Delivery of the
New Shares allocated in the Private Placement will, in order to
facilitate delivery-versus-payment and timely delivery of already
listed shares to subscribers in the Private Placement, be made by
delivery of existing and unencumbered shares in the Company,
pursuant to a share lending agreement entered into between the
Company and the Manager.
Kenneth Ragnvaldsen, CEO in Data Respons said in a comment: "We are
pleased to announce a successful private placement. 2017 provided
record high revenues, order intake and operating result. Technology
mega trends, implying a more data driven society with a growing
number of connected devices, will continue to mature across all
industries. Our customers, from the established blue chip companies
to start-ups, are increasing their focus on new developments and
upgrades of their products, platforms, and system solutions. The
private placement will strengthen the balance sheet and support the
company's growth strategy going forward."
Swedbank Norge acted as Manager in the Private Placement.
Advokatfirmaet CLP DA is acting as legal advisor for Data Respons
ASA in connection with the Private Placement.
For further information:
Kenneth Ragnvaldsen, CEO, Data Respons ASA, tel. +47 913
90 918.
Rune Wahl, CFO, Data Respons ASA, tel. + 47 950
36 046
About Data Respons
Data Respons is a full-service,
independent technology company and a leading player in the IoT,
Industrial digitalisation and the embedded solutions market. We
provide R&D services and embedded solutions to OEM
companies, system integrators and vertical product suppliers in a
range of market segments such as Transport & Automotive,
Industrial Automation, Telecom & Media, Space, Defense &
Security, Medtech, Energy & Maritime, and Finance & Public
Sector.
Data Respons ASA is listed on the Oslo Stock Exchange (Ticker:
DAT), and is part of the information technology index. The company
has offices in Norway, Sweden, Denmark, Germany and
Taiwan. www.datarespons.com
This information is subject of the disclosure requirements pursuant
to section 5-12 of the Norwegian Securities Trading
Act
This announcement is not and does not form a part of any offer for
sale of any securities, and is for release, publication or
distribution, directly or indirectly, in the United States, or any
other jurisdiction in which such distribution would be unlawful or
would require registration or other measures. Securities may not be
sold in the United States absent registration with the United
States Securities and Exchange Commission or an exemption from
registration under the U.S. Securities Act of 1933, as amended.
Data Respons ASA does not intend to register of its securities in
the United States.
The distribution of this announcement into jurisdictions other than
Norway may be restricted by law. Persons into whose possession this
announcement 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. This announcement has not been approved by any
regulatory authority.
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Data Respons ASA via Globenewswire
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