Mar 08, 2020

NRC Group ASA - Cancellation of subsequent repair offering

References is made to the stock exchange notice on 12 February 2020, regarding the contemplated private placement and a potential subsequent repair offering in NRC Group ASA (“the Company”).

Since the announcement of the private placement, the Company's shares have traded similar to or below the subscription price in the private placement of NOK 37. In the period from 12 February 2020 to 6 March 2020 the volume-weighted average share price (VWAP) has been NOK 33, and at the lowest the share price was NOK 26.10, approximately 29.46 percent below the subscription price. Furthermore, 4.73 million shares have been traded below the subscription price, which represents 2.5x the volume in the subsequent repair offering.

Consequently, existing shareholders wishing to avoid or reduce the dilutive effect of the private placement have had the opportunity to purchase shares in the open market during an extended period in time, at prices below the subscription price of the private placement. Hence, the Board withdraws its proposal to the general meeting to give the Board an authorisation to issue shares in the subsequent repair offering.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Contact us

Henning Olsen

Henning Olsen

CEO

+47 91 74 15 92

henning.olsen[at]nrcgroup.com

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