Ensurge Micropower ASA - Key information relating to possible repair issue/subsequent offering

Rhea-AI Summary

Ensurge Micropower ASA has announced a private placement of shares raising NOK 75 million at a subscription price of NOK 1 per share. Additionally, the company is considering a subsequent offering to raise up to NOK 11.5 million at the same subscription price, subject to approval by an Extraordinary General Meeting expected to be held on or about 14 October 2024.

Key dates for the potential subsequent offering include:

• Announcement date: 19 September 2024
• Last day including right: 19 September 2024
• Ex-date: 20 September 2024
• Record date: 23 September 2024

The maximum number of new shares in the subsequent offering would be 11,500,000. An offering prospectus will be published prior to the subscription period, pending approval by the Norwegian Financial Supervisory Authority.

Positive

• Private placement successfully raised NOK 75 million
• Potential subsequent offering to raise additional NOK 11.5 million
• Subscription price set at NOK 1 per share for both offerings

Negative

• Subsequent offering subject to approval by Extraordinary General Meeting
• Potential dilution for existing shareholders not participating in the offerings

Oslo, 19 September 2024

Reference is made to the stock exchange notice from Ensurge Micropower ASA ("Ensurge" or the "Company") on 19 September 2024 regarding a private placement of shares in the Company raising NOK 75 million at a subscription price of NOK 1 per share (the "Private Placement") and a possible subsequent offering, raising up to NOK 11.5 million, at the same subscription price as in the private placement (the "Subsequent Offering"), subject to approval by an Extraordinary General Meeting to be held on or about 14 October 2024.

Date on which the terms and conditions of the repair issue were announced: 19 September 2024; 

Last day including right: 19 September 2024; 

Ex-date: 20 September 2024; 

Record date: 23 September 2024; 

Date of approval: Expected to be on or about 14 October 2024 by resolution of an Extraordinary General Meeting (to be called); 

Maximum number of new shares: 11,500,000; and 

Subscription price: NOK 1.

The Subsequent Offering will be carried out as set out in an offering prospectus (which must be approved by the Norwegian Financial Supervisory Authority) to be published prior to commencement of the subscription period.

This information is published in accordance with the requirements of the Continuing Obligations.

FAQ

What is the total amount Ensurge Micropower ASA (ENMPY) aims to raise through its private placement and subsequent offering?

Ensurge Micropower ASA aims to raise a total of NOK 86.5 million, with NOK 75 million from the private placement and up to NOK 11.5 million from the subsequent offering.

When is the Extraordinary General Meeting for Ensurge Micropower ASA (ENMPY) expected to be held?

The Extraordinary General Meeting for Ensurge Micropower ASA is expected to be held on or about 14 October 2024.

What is the subscription price per share for Ensurge Micropower's (ENMPY) private placement and subsequent offering?

The subscription price for both the private placement and subsequent offering is NOK 1 per share.

How many new shares will be issued in Ensurge Micropower's (ENMPY) subsequent offering?

The maximum number of new shares to be issued in the subsequent offering is 11,500,000.