NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN
AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S
REPUBLIC OF CHINA, SOUTH AFRICA, NEW ZEALAND, JAPAN OR THE UNITED STATES, OR ANY
OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE
UNLAWFUL
Oslo, 31 August 2022.
Reference is made to the stock exchange announcement published by Aega ASA
("Aega" or the "Company") on 3 June 2022 regarding the contemplated private
placement of new shares and/or private placement of a convertible loan to raise
proceeds of up to NOK 30 million, as well as the stock exchange announcement on
21 June 2022 disclosing that the Company had placed NOK 19,880,000 in a
convertible loan.
As an extension of the equity raise in June, the Company has received an offer
for financing from Mamalao AS ("Mamalao" or the "Lender"), which the board has
resolved to accept. The financing consists of (i) an issuance of a convertible
loan (the "Loan") of NOK 10 million and (ii) a private placement by issuing up
to 5,000,000 new shares in the Company at a price of NOK 1 per share (the "Share
Issue") (collectively the "Equity Raise").
The Loan is issued on the same terms as announced in June 2022 and has an
interest rate of 3 months NIBOR plus 5.75%, with a maximum interest rate of 10%,
and is secured by a pledge on the Company's shares in and claim towards Aega
Solar AS. The Lender can convert the principal amount of the Loan into shares at
a subscription price of NOK 1, in accordance with customary terms and
conditions, from and including 31 December 2022. By issuing the Loan, Aega has
succeeded in placing the previously announced convertible loan with proceeds of
NOK 30 million. Furthermore, strengthening of the equity by the Share Issue will
give the Company increased possibilities for further work towards implementation
of Aega's long-term strategy.
The net proceeds from the Equity Raise will be used for the following purposes:
o Purchase of additional solar parks in Italy