Brief: Morrow Bank Cancels Subsequent Offering

Morrow Bank ASA

15/08/2023 10:57

Aug 15 (Reuters) - Morrow Bank ASA  MOBAM.OL :
    * MORROW BANK ASA: CANCELLATION OF SUBSEQUENT OFFERING
    * PURPOSE OF POTENTIAL SUBSEQUENT OFFERING WAS TO LIMIT
DILUTIVE
EFFECT FOR SHAREHOLDERS WHO DID NOT PARTICIPATE IN PRIVATE
PLACEMENT
    * FOLLOWING ANNOUNCEMENT, A SIGNIFICANT VOLUME OF SHARES HAS
BEEN
TRADED AT OR BELOW SUBSCRIPTION PRICE IN SUBSEQUENT OFFERING
    * SHARE PRICE IS CURRENTLY TRADING AT NOK 3.95 AS OF END OF
TRADING ON 14 AUGUST 2023, WHICH REPRESENTS A DISCOUNT OF 12 %
COMPARED TO SUBSCRIPTION PRICE IN SUBSEQUENT OFFERING
    * ACCORDINGLY, SHAREHOLDERS WISHING TO REDUCE DILUTIVE
EFFECT OF
PRIVATE PLACEMENT HAVE HAD OPPORTUNITY TO PURCHASE SHARES IN
COMPANY IN MARKET AT PRICES AT OR BELOW SUBSCRIPTION PRICE IN
SUBSEQUENT OFFERING
    * AS A RESULT OF THIS, COMPANY'S BOARD OF DIRECTORS HAVE
RESOLVED
TO NOT PROCEED WITH SUBSEQUENT OFFERING

Source text for Eikon:  ID:nObirZXBxa 
Further company coverage:  MOBAM.OL 

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