Inin Group AS — Share Issue/Capital Change 2020

Dec 22, 2020

Elop AS: Conversion of warrants to shares

Elop AS: Conversion of warrants to shares

On 20 December 2019, the extraordinary general meeting of Elop AS ("Elop") resolved to issue 2,400,000 stand-alone subscription rights (warrants) to Storbrea AS ata subscription price of NOK 3.75 per share. Storbrea AS has notified Elop that it wishes to convert all warrants to shares, equivalent to a total contribution of NOK 9 million. Upon the issuance of shares, Storbrea AS will own 2,907,182 shares, representing approximately 4.14% of the shares of Elop.

For further information, please contact:

Media

Kjersti Kanne, CEO of ELOP AS, tel: +47 480 31 075

Investors

Øivind Horpestad, chairman of ELOP AS, tel: +47 910 00 626

Torbjørn Blom-Hagen, CFO of ELOP AS, tel: +47 926 48 847

About ELOP

ELOP AS is a Norwegian tech company established in 2013. ELOP has developed and patented an ultrasound technology for inspection and analysis of critical infrastructure. The company develops and commercialise tools and digital solutions to inspect, monitor and manage infrastructure worldwide. ELOP’s vision is to provide asset owners with smart solutions that improve safety, extend asset lifetime, minimise total lifecycle cost and environmental footprint. ELOP is located in Oslo and in Hamar, Norway.