The Placing represents up to approx. 17 percent of the outstanding shares in in the Company. After the completion of the Placing, Scatec is expected to hold no less than 19,482,339 shares in Scatec Solar (equivalent to no less than approx. 20.8 percent of the outstanding shares in the Company), while Itochu is expected to hold no less than 9,768,657 shares in the Company (equivalent to no less than approx. 10.4 percent of the outstanding shares in the Company).
The bookbuilding will commence today at 16.30 CET. Any sale of shares in Scatec Solar pursuant to the Placing is subject to approval by the Selling Shareholders.
The Selling Shareholders have undertaken a customary lock-up agreement with the joint bookrunners for the remainder of their shares in the Company with a lock- up period lasting 90 days from the completion of the Placing.
Scatec is represented on the Board of Directors in the Company (the "Board") by John Andersen (Chairman) and Alf Bjørseth, while Itochu is represented on the Board by Yuji Tachikawa. The Selling Shareholders are therefore both subject to the disclosure requirements of the Norwegian Securities Trading Act section 4-2.
Contacts:
ABG Sundal Collier: +47 22 01 60 04
Carnegie: +47 22 00 93 40
Swedbank: +47 23 23 82 08