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REC Subsequent Offering: Mandatory Notification Of Trade

published: 2012-09-04 14:58

Reference is made to the ongoing subsequent offering (the "Subsequent Offering" of minimum 1 and maximum 250,000,000 new shares (the "Offer Shares") at a subscription price of NOK 1.50 per Offer Share in Renewable Energy Corporation ASA ("REC" or the "Company"). The table below gives an overview of subscriptions for Offer Shares and sales of shares carried out by primary insiders in REC. The subscriptions for Offer Shares and sales of shares included in the table were conducted yesterday, August 30, 2012.

Name of primary insider

Total shareholding before transactions

Subscription rights received

Number of Offer Shares subscribed for

Total shareholding after transactions*

Kjell Christian Bjørnsen (1)

5,703

3,590

3,900

5,693

Bjørn Brenna (2)

85,511

53,826

60,000

89,340

Ole Enger

32,941

20,736

50,000

53,677

Odd Christopher Hansen (3)

600,000

62,950

300,000

662,950

Øyvind Hasaas

6,065

3,817

5,000

9,882

Kristin Meyer Jacobsen

1,290

812

1,520

2,102

Silje Johnsen

3,569

2,246

5,000

5,815

Florian Krumbacher

2,043

1,286

2,043

3,329

Peter Ruzicka

520,000

327,340

512,590

847,340

Tore Torvund

16,486

10,377

15,000

26,863

Mikkel Tørud

4,666

2,937

4,000

7,603

Does not include Offer Shares (if any) allocated due to oversubscription but includes specified sales of shares

(1) Primary insider Kjell Christian Bjørnsen has in addition sold 3,600 shares at a price of NOK 1.77 per share

(2) Primary insider Bjørn Brenna has in addition sold 50,000 shares at a price of NOK 1.80 per share

(3) Primary insider Odd Christopher Hansen bought 500,000 shares on July 30, 2012 that did not qualify for subscription rights in the Subsequent Offering. All shares are included in the specification of the shareholdings above.

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