Hexagon Composites - Capital/Financing Update 2015

Hexagon Composites ASA: Notice from Bondholders' meeting and Company refinancing

Reference is made to the stock exchange announcement of 27 March 2015 concerning

summons to a bondholders' meeting to approve certain amendments to the NOK 300

million bond HEX02 (ISIN NO 001 0683717) to provide for early redemption of the

bonds outstanding under the bond issue. The proposed resolutions were adopted

according to the voting requirements of the Bond Agreement. The Bond Agreement

will therefore be changed as set out in the summons to the meeting. The

settlement is expected to take place 24th April 2015 and the total amount to be

repaid, including buyback premium and accrued interest, in total approximately

NOK 321.9 million on 24th April 2015.

The Company has also secured extended financing facilities from Skandinaviska

Enskilda Banken AB and DNB Bank ASA in a club deal which will extend current

financing capacity, of NOK 685 million, to NOK 1 billion on an unsecured basis.

The new five year facility will incorporate a revolving credit facility for up

to NOK 685 million as well as a term-loan facility for up to NOK 315 million.

"The terms on the new facilities allow significant savings in debt servicing

cost through attractive pricing and increased flexibility, whilst increasing our

capability to finance acquisitions" said David Bandele, Chief Financial

Officer."

Please find enclosed the notice from the Bondholder's meeting.

For more information:

David Bandele, CFO, Hexagon Composites ASA

Telephone: +47 920 91 483 | [email protected]

Hexagon Composites ASA is a leading global supplier of composite pressure

cylinders for gas applications. Based in Ålesund, Norway, the Group has more

than 550 employees and generated NOK 1,651 million in operating income in 2014.

Production is carried out in modern, automated plants in Norway and the US.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1912058]

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