Reference is made to the stock exchange announcements published by Thin Film Electronics ASA (“Thinfilm” or the “Company”) on 28 April 2020 and 30 June 2020 regarding a Private Placement and the result of a Subsequent Offering in the Company. In connection with the Private Placement and the Subsequent Offering, the Extraordinary General Meeting resolved on 20 May 2020 to issue two Warrants to each subscriber for each share issued. The first warrant (“Warrant A”) has an exercise price of NOK 0.11 per share and is exercisable at any time from the date of grant until 31 December 2020. The second warrant (“Warrant B”) has an exercise price of NOK 0.25 per share and is exercisable at any time from the date of grant until 20 August 2021.
The following is the procedure connected to the exercise of Warrants A and/or Warrants B in Thinfilm:
1. Notice of exercise (“Notice”) must be submitted by the Warrant holder (the “Holder”) in writing (email) to email@example.com
2. The Notice must specify (i) the number of Warrants exercised, (ii) whether the notice relates to Warrants A and/or Warrants B, (iii) the aggregate exercise price to be paid; (iv) the holder’s VPS account to which the new shares shall be issued; and (v) the contact information for the Holder, including full name, organization number (if a legal entity) or personal ID number (if an individual), address, telephone number and e-mail address. A template of the Notice is available for download below.
3. An acknowledgement of receipt of the Notice will be submitted by Thinfilm to the Holder.
4. The Board of Directors of Thinfilm will approve the share capital increase associated with the Warrant exercise (“Board Approval”).
5. The aggregate Warrant exercise price shall be paid by the Holder to: Account number: 1644 33 79537; Name: Thin Film Electronics ASA; IBAN: NO04 1644 3379 537; BIC (SWIFT): DNBANOKKXXX; Bank: DNB Bank ASA.
6. Thinfilm will register the share capital increase with the Norwegian Register of Business Enterprises (“Registration”); and deliver the new shares to the Holder in the VPS.
7. NOTE that Thinfilm reserves the right to undertake Board Approval and Registration in connection with Warrant exercises no more than once every 14 calendar days. NOTE also that the Registration will be handled in the ordinary course, without any request for expedited handling to the Register of Business Enterprises.
8. The Holder will be responsible for ensuring compliance with any applicable disclosure obligations for large shareholders (Nw.: Flaggeplikt) in accordance with Section 4-3 of the Securities Trading Act.