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Norsk Titanium AS — Director's Dealing 2024
May 15, 2024
3686_dirs_2024-05-15_7feb0e0f-96be-4bed-9559-f6a4aca77d9c.html
Director's Dealing
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Norsk Titanium AS: Notification of transaction by close associate of primary insider
Norsk Titanium AS: Notification of transaction by close associate of primary insider
Oslo, Norway, 15 May 2024: Reference is made to the stock exchange announcement by Norsk Titanium AS (the "Company") on 29 April 2024 regarding a private placement of new shares to be issued by the Company (the "Private Placement").
Scatec Innovation AS has agreed to lend existing and unencumbered shares in the Company, already being traded on Euronext Growth Oslo, to the managers for the Private Placement. Borrowed shares will be used for settlement towards investors having been allocated shares in the Private Placement and redelivered to Scatec Innovation AS upon registration of the share capital increase pertaining to the Private Placement.
Pursuant to the share lending arrangement, the managers have borrowed a total of 56,296,370 shares from Scatec Innovation AS to settle tranche 2 of the Private Placement. Scatec Innovation AS is a company closely associated with John Andersen, who is the chairman of the Company's board of directors. Please see the attached notification of trade for information regarding the lending of shares in the Private Placement by a close associate of a primary insider.
The board of directors will resolve the share capital increase pertaining to the issuance of shares when the authorisation to do so, as resolved by the annual general meeting, is registered in the Norwegian Register of Business Enterprises, expected take place on or about 15 May 2024. The shares allocated to investors in tranche 2 of the Private Placement will be tradable subject to the resolution by the board of directors to issue the shares in tranche 2. The shares allocated in tranche 2 cannot be traded before the resolution by the board of directors has been made.
For more information, please contact:
Ashar Ashary, CFO Norsk Titanium AS
Email: [email protected]
Tel: +1 518 556 8966
This information is subject to the disclosure requirements pursuant to article 19 of the EU Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading Act.