SAGA Saga Pure

SAGA PURE – RESOLUTION TO INCREASE THE SHARE CAPITAL INCREASE IN CONNECTION WITH SUBSEQUENT OFFERINGS

SAGA PURE – RESOLUTION TO INCREASE THE SHARE CAPITAL INCREASE IN CONNECTION WITH SUBSEQUENT OFFERINGS

Oslo, 10 January 2021

Reference is made to the stock exchange announcement on 30 December 2020 regarding information on three subsequent offerings in Saga Pure ASA ("Saga" or the "Company"). The board of directors of Saga has today, 10 January 2021, pursuant to the authorisation granted to it by the extraordinary general meeting held on 10 November 2020, resolved to increase the share capital by up to a total of NOK 137,000 through issuance of up to a total of 13,700,000 new shares, each with a par value of NOK 0.01, in connection with subsequent offerings in the Company.

The share capital increases have been resolved to carry out; (i) a subsequent offering following the private placement completed on 14 December 2020 ("Subsequent Offering I"), (ii) a subsequent offering following the private placement completed on 21 December 2020 ("Subsequent Offering II"), and (iii) a subsequent offering following the private placement completed on 29 December 2020 ("Subsequent Offering III" and together with Subsequent Offering I and Subsequent Offering II, the "Subsequent Offerings").

The share capital increases are divided as following, (i) a share capital increase by up to NOK 40,000 in the Subsequent Offering I, through issuance of up to 4,000,000 new shares at a subscription price of NOK 2.10, (ii) a share capital increase by up to NOK 49,000 in the Subsequent Offering II, through issuance of up to 4,900,000 new shares at a subscription price of NOK 2.90, and (iii) a share capital increase by up to NOK 48,000 in the Subsequent Offering III, though issuance of up to 4,800,000 new shares at a subscription price of NOK 4.10.

The completion of the Subsequent Offerings is conditional upon the approval by the Financial Supervisory Authority of Norway of a prospectus and the publication of the same by the Company. The prospectus is expected to be approved during the week commencing 11 January 2020, and the subscription periods in the Subsequent Offerings will commence shortly thereafter. Further information will be provided in due course.

For additional information, please contact:

Bjørn Simonsen, CEO,

Espen Lundaas, CFO,

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act



EN
10/01/2021

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