Book building for private placement in IDEX
Further to the announcement by IDEX ASA (the “Company”) on 5 April 2011, the Company has received, by the stated deadline, an expression of interest from persons and entities, who wish to participate in the contemplated private placement of shares (“Interested Parties”).
The contemplated placement will not exceed ten percent of the Company’s share capital and will be directed to less than 100 persons or entities.
Based on the expression of interest from the Interested Parties, the Company intends a placement of, at a maximum, 21,164,581 shares. The subscription price will be determined by the Board based on a book building process through offers submitted from the Interested Parties; however subject to a maximum subscription price of NOK 1.90 per share. For every two shares issued in the placement, the Board will propose to the Company’s general meeting that the Company attaches and issues one warrant, with an exercise price equal to the final subscription price in the placement plus NOK 0.30. The warrants will have a term of one year and a short exercise period at the end of such one-year term.
The Company will undertake a book building process with the Interested Parties. Such process will conclude at the earlier of (i) such time as all the Interested Parties have submitted their respective subscription offers and (ii) Friday 8 April 2011 at 12 hrs (noon). Thereafter, the Board will determine the final terms and conditions of the private placement, hereunder the subscription price as established through the book-building process. The Board’s resolution will be announced in due course.
7 April 2011
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.