Scana — AGM Information 2015

May 26, 2015

Scana Industrier ASA - Annual general meeting held. Partly underwritten rights issue of up to NOK 100 million adopted

Scana Industrier ASA - Annual general meeting held. Partly underwritten rights issue of up to NOK 100 million adopted

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED

STATES, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE

DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL

Please find attached minutes from the annual general meeting in Scana Industrier

ASA (the "Company") that was held 26 May 2015 (in Norwegian only).

The annual general meeting decided to complete a partly underwritten rights

issue of up to NOK 100 million at a share price of NOK 0.10 directed towards the

Company's shareholders as announced 4 May 2015 (the "Rights Issue").

The Company's shareholders as of 27 May 2015 (as registered in the Company's

shareholder register in the VPS on 29 May 2015) who are not resident in a

jurisdiction where such offering would be unlawful, or would (in jurisdictions

other than Norway) require any prospectus filing, registration or similar

action, will receive approximately 13.31 tradable subscription rights for each

share that they own in the Company on the above-mentioned date. Over-

subscription will be allowed. Each subscription right will give the right to

subscribe for one new share in the Company. Allocation will be made in

accordance with the criteria set by the annual general meeting. The subscription

rights will be sought listed at the Oslo Stock Exchange. The share will trade

exclusive the right to participate in the Rights Issue from 28 May 2015 (ex-

date).

A prospectus is being prepared and will be published prior to the commencement

of the subscription period. Provided that the prospectus is approved in time,

the subscription period will commence on or about 15 June 2015 and end on or

about 29 June 2015 at 16:30 CET.

For further information please contact:

Mr. Jan H Melhus, CEO Scana Industrier ASA, Mobile: +47 901 67 010

Mr. Kjetil Flesjå, CFO Scana Industrier ASA, Mobile: +47 900 41 213

- - -

This release does not constitute or form part of an offer or solicitation to

purchase or subscribe for securities in the United States. The securities

referred to herein may not be offered or sold in the United States absent

registration or an exemption from registration as provided in the U.S.

Securities Act of 1933, as amended. The Company does not intend to register any

portion of the offering of the securities in the United States or to conduct a

public offering of the securities in the United States. Copies of this

announcement are not being made and may not be distributed or sent into the

Australia, Canada, Japan or the United States.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1923998]