AINMT completes private placement
Oslo, 30 November 2016 – AINMT AS has successfully completed a private placement through issuance of new shares for a total consideration of NOK 800 million. The decision to conduct a private placement is primarily driven by further growth ambitions in Norway – both in terms of customer acquisition and network infrastructure build-out. 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’s (“AINMT”) announcement dated 21 November 2016 regarding the contemplated private placement of between 7,143,000 – 11,429,000 new shares (the “Private Placement”) at a fixed offer price of NOK 70 per offer share (the “Offer Price”) raising gross proceeds of between NOK 500,010,000 and NOK 800,030,000 (approx. USD 58-93 million).
AINMT has successfully placed 11,429,000 shares towards Norwegian and international institutional and professional investors at the Offer Price, raising gross proceeds of NOK 800,030,000 (USD 93.2 million).
Access Industries and Rasmussengruppen AS had pre-subscribed for NOK 250 million each in the Private Placement.
The gross proceeds of approximately NOK 800 million will be used to subscribe for 11,429,000 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 further growth ambitions in Norway – both in terms of customer acquisition and network infrastructure build-out.
The completion of the Private Placement is conditional upon all necessary corporate resolutions being made by AINMT and AINMT Holdings AB, including without limitation (a) approval by an extraordinary general meeting of AINMT to be held on 1 December 2016 of the Private Placement, and (b) approval by the general meeting of AINMT Holdings AB to be held on or about 1 December 2016 of the issuance of 11,429,000 shares in AINMT Holdings AB to AINMT.
The Private Placement is expected to be registered with the Norwegian Registry of Business Enterprises on or about 6 December 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 42,831,271 shares in total, and AINMT Holdings AB will have issued 120,791,335 shares in total, of which AINMT will own approximately 35.5%.
Notification of allotment and payment instructions will be sent to the applicants on 30 November 2016.
Pareto Securities acts as sole lead manager for 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: firstname.lastname@example.org