Pressemeldinger

16.08.19

Konvertering av obligasjoner

Det vises til børsmelding fra Element ASA ("Selskapet") 15. august 2019 angående varsel om brudd på selskapets Konvertible Lånefasilitet. Selskapet har i dag blitt enige med European Secureitization Fund Manco SA om å konvertere 31 konvertible obligasjoner(med et samlet konverteringsbeløp på 3.100.000 kroner) til 1.937.500 aksjer til pålydende (NOK 1,60). Tvisten om potensiell kontraktsstraff på inntil 601.369 kroner er avtalt å bli avgjort i samsvar med gjeldende lov etter registrering av de nye aksjene i Foretaksregisteret.

16.08.19

Disclosure of shares and rights to shares in Element ASA ("Element") (flagging)

Reference is made to the announcements disclosed on 10 June 2018 and 22 February 2019 and the details provided therein. Reference is further made to the announcement made by Element today regarding the new share capital following issuance of shares. Please note that for the avoidance of doubt, the disclosures below assumes that the conversion of the convertible notes, as disclosed on 8 August 2019, has not occurred, due to delay in effecting the conversion from Element's side. A separate announcement will be made shortly to update and correct the disclosure regarding the conversion of convertible notes.

15.08.19

Notice of breach of convertible loan

Reference is made to Element ASA's (the "Company") zero coupon NOK 500 million convertible note facility with attached warrants (the "Convertible Note Facility") with European High Growth Opportunities Securitization Fund, represented by European High Growth Opportunities Securitization Fund Manco SA (the "Investor"). The Convertible Note Facility was approved by the Company's general meeting on 6 June 2018, and the general meeting approved amended terms of the Convertible Note Facility on 18 March 2019.