Solar - M&A Activity 2015 | FinancialReports.eu

REC Solar ASA: Completion of the disposal of the business of REC Solar

Oslo, May 13, 2015: Reference is made to the announcement on 24 November 2014

relating to the sale of REC Solar ASA's ("REC Solar" or the "Company") business

to Bluestar Elkem Investment Co. Ltd. (the "Buyer") through a sale of the newly

established holding company REC Solar Holdings S.a.r.l..

REC Solar is pleased to announce that it has today completed the disposal and

has received from the Buyer cash proceeds of approximately NOK 4.298 billion,

equivalent to NOK 107.45 per share.

A general meeting will be held on Friday 29 May 2015 to, among other business,

commence a solvent liquidation of the Company for the purposes of returning cash

to shareholders. The result of such liquidation will be that the net proceeds

(being the purchase price for the business plus existing cash held in REC Solar

ASA less transaction costs and costs arising in REC Solar's ordinary course of

business until the date of the liquidation) will be distributed to the Company's

shareholders. Shareholders are expected to receive a cash payment of

approximately NOK 107 per share on or around August 2015.

For further information, please contact;

Mr. Kim Boman, Investor Relations

Telephone: +47 959 63 912

About REC Solar ASA

REC Solar ASA is headquartered in Norway and listed on the Oslo Stock Exchange

(ticker: RECSOL).

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1920921]

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