News

Oslo, Thursday, March 17, 2011
Stock Exchange Notification
TERMS OF RIGHTS OFFERING

Reference is made to Blom’ stock exchange notification dated 24 February 2011.

The board of directors of Blom has today resolved to propose to the extraordinary general meeting to be held on 18 March 2011 that the company’s share capital be increased by a minimum of NOK 0.10 and a maximum of NOK 24 360 381.60 through the issuance of a minimum of 1 and a maximum of 243 603 816 new shares. The company’s shareholders as of 18 March 2011 (as registered in the company’ shareholders’ registry in the VPS on 23 March 2011) will have pre-emptive rights to subscribe for the new shares. Shareholders will receive six subscription rights for each share held as of such date. Each subscription right will give the right to subscribe for one new share. The new shares will be issued at a subscription price of NOK 0.30 per share.

If the subscriptions in the rights offering amount to less than NOK 50 million or 166,666,667 new shares, the Bondholders will have the right to convert NOK 50 million of the existing bond loan  into a new zero-coupon convertible bond with a conversion price of NOK 0.30 per share as described in the notice of the extraordinary general meeting.

This information is subject to the disclosure requirements according to Section 5-12 of the Securities Trading Act.

 

For further information please contact the CEO, Dirk Blaauw, on tel. +47 22 13 19 20 or CFO Lars Bakklund, on tel: +47 22 13 19 34.

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