New share capital registered

19.08.19 | Press releases

Reference is made to the stock exchange notice dated 16 August 2019 from Element ASA (the "Company") regarding a conversion of 31 notes (with a total conversion amount of NOK 3,100,000) under the Company's zero coupon NOK 500 million convertible facility with Alpha Blue Ocean Advisors Ltd. The conversion of the notes imply an issuance of 1,937,500 new shares.

The pertaining share capital increase has now been registered in the Norwegian Register of Business Enterprises, and the share capital of the Company has been increased with NOK 3,100,000. The new share capital of the Company is NOK 27,934,548.80 divided by 17,459,093 shares, each with a par value of NOK 1.60. Each share gives one vote at the Company's general meeting.

The 1,937,500 new shares will initially be issued on a separate, non-tradable ISIN. The new shares will be converted to the ordinary ISIN of the Company and made tradable on the Oslo Stock Exchange following approval and publication of a listing prospectus.

For further information, please contact:

Thomas Christensen
Chairman
+47 9225 5444

Geir Johansen
CEO
E-mail: gj@elementasa.com
+47 4771 0451