Hexagon Composites ASA (HEX)
Flakk Composites AS and Flakk Gruppen AS (together the “Sellers”), have retained DNB Markets, a part of DNB Bank ASA as Sole Bookrunner (the "Manager") to explore a potential block sale of existing shares in Hexagon Composites ASA (the "Company") through a private placement (the “Offering”).
The Sellers are contemplating selling up to approximately 5,000,000 shares in the Company (up to 4,486,783 shares sold by Flakk Composites AS and up to 513,217 shares sold by Flakk Gruppen AS), equivalent to approximately 2.48% of the Company’s outstanding shares. The price in the Offering will be set through an accelerated bookbuilding process and will be denominated in NOK. The Sellers reserve the right, at their sole discretion, to decide the number of shares to be sold, or to sell no shares at all in the Offering.
The bookbuilding period in the Offering will commence today, 27 September 2023 at 16:30 CEST and will close on 28 September 2023 at 08:00 CEST. The Sellers, in consultation with the Manager, reserve the right to close the bookbuilding period at any time at their sole discretion, at short notice. The Offering is expected to be priced and allocated before 08:00 CEST on 28 September 2023 (T). The settlement in the Offering will be conducted on a normal delivery-versus-payment basis (DVP, T+2).
Flakk Composites AS currently owns 20,000,000 shares in the Company, representing approximately 9.92% of the number of outstanding shares in the Company, and will following the Transaction hold 15,513,217 shares assuming all shares are sold as part of the Transaction, representing 7.69% of the number of shares outstanding in the Company. Flakk Composites AS is partially owned and controlled by Knut Flakk, founder and Chairman of the Board in the Company.
Flakk Gruppen AS currently owns 2,203,721 shares in the Company, representing approximately 1.09% of the number of outstanding shares in the Company, and will following the Transaction hold 1,690,504 shares assuming all shares are sold as part of the Transaction, representing 0.84% of the number of shares outstanding in the Company. Flakk Composites partially owned and controlled by Knut Flakk, founder and Chairman of the Board in the Company.
Knut Flakk and related parties hold an additional 5,631,248 shares in the Company, representing approximately 2.79% of the number of shares outstanding in the Company.
The minimum order and allocation in the Offering have been set to the NOK equivalent of EUR 100,000. The Manager may, however, offer and allocate an amount below the NOK equivalent of EUR 100,000 in the Offering to the extent exemptions from prospectus requirements, in accordance with Regulation (EU) 2017/1129, are available.
For more information about the Offering please contact the Manager:
DNB Markets, a part of DNB Bank ASA:
+47 24 16 90 20
This information is considered to include inside information pursuant to the EU Market Abuse Regulation article 7 and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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