AINMT AS completes private placement
Oslo, 20 June 2016 – AINMT AS has successfully completed a private placement through issuance of new shares for a total consideration of NOK 429 million. The proceeds will be used to further capitalise on the strong sales momentum in AINMT’s Norwegian operation. The completion of the private placement is subject to EGM approvals.
NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, HONG KONG OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.
Reference is made to AINMT AS’ (AINMT) announcement dated 6 June 2016 regarding the contemplated private placement of between 5,850,000 – 8,800,000 new shares (the “Private Placement”). AINMT has successfully placed 6,601,556 shares towards Norwegian and international institutional and professional investors at a price of NOK 65 per share (the “Offer Price”).
The gross proceeds of approximately NOK 429 million (USD 51 million) will be used to subscribe for 6,601,556 new shares in AINMT Holdings AB at the Offer Price. AINMT Holdings AB owns 100% of the shares in AINMT Scandinavia Holdings AS and AINMT International Holdings BV.
AINMT Holdings AB will use the proceeds to fund higher customer acquisition in Norway than previously anticipated and to fund higher investments in sites and IT-systems in Norway in order to have more on-net traffic and enable disruptive offerings.
The completion of the Private Placement is, among other things, conditional upon approval by an extraordinary general meeting of AINMT to be held on 22 June 2016.The Private Placement is expected to be registered with the Norwegian Registry of Business Enterprises on or about 24 June 2016, following which the new shares will be tradable at the OTC market in Oslo, Norway.
Following completion of the Private Placement, AINMT will have issued 31,402,271 shares in total, and AINMT Holdings AB will have issued 109,362,335 shares in total, of which AINMT will own approximately 28.7%, disregarding any dilution upon exercise of warrants issued by AINMT Holdings AB.
Notification of allotment and payment instructions will be sent to the applicants on or about 20 June 2016.
The Board of AINMT has passed a resolution to work towards a listing on Oslo Stock Exchange or Oslo Axess, or another regulated market, within 12 months.
DNB Markets and Pareto Securities are acting as joint managers in connection with the private placement.
For further information, please contact:
Johan Michelsen, CFO, AINMT Holdings AB, +47 410 87 000
Endre Aaberg Johansen, Corporate Communications AS, tel: +47 41 61 06 05, email: email@example.com