THIN - Intent of Private Placement

Reference is made to the strategy presentation by Thin Film Electronics ASA (the “Company") announced on Oslo Børs on 26 February 2020. In connection with the updated corporate strategy of the Company, and as foreshadowed by its Q4 2019 report, the Company plans to begin the process of raising capital during the first quarter of 2020.

The extraordinary restrictions and consequences caused by the global outbreak of the coronavirus (Covid-19) provides practical challenges in respect of the fundraising process.

On this background, the Company hereby submits this announcement to set out its intent to undertake a private placement of shares in order to raise additional working capital in the Company. The intent is to undertake and complete the private placement in April 2020, and the Board will shortly call and convene an extraordinary general meeting for this purpose.



The offer would be directed to less than 150 persons or entities. However, it is anticipated that the private placement would exceed 20% of the share capital, which, as a consequence, would require a listing prospectus in order for the contemplated new shares to be admitted to trading on Oslo Børs.

 

The intent is that the private placement can be directed toward both existing shareholders and new investors. Thinfilm hereby invites persons and/or entities, who may be interested to participate in the private placement, to submit a Notification of Interest to the Company. Such Notification of Interest should be sent by letter or e-mail to the following address:

(if by post):

Thin Film Electronics ASA

c/o Advokatfirmaet Ræder AS

P.O. Box 2944 Solli

NO-0230 Oslo, Norway

Attn.: Carl Garmann Clausen

(if by e-mail):

E-mail: with a copy to and

Thinfilm hereby requests that such Notification of Interest be submitted to the Company by no later than Friday 3 April 2020 at 17:30 hrs. (Oslo time). The Notification of Interest should, at the very least, include name, address, telephone, telefax and e-mail address of the interested party. The Company will contact the persons and entities, which have submitted a Notification of Interest.

 

Upon receipt of Notifications of Interest and upon further consideration and resolutions by the Board of Directors and the Extraordinary General Meeting to be called, Thinfilm would issue a subscription offer, which would include the detailed terms and conditions of the placement, hereunder the number of shares that may be subscribed for and the subscription price per share. The final resolution by the Board of Directors to proceed with a private placement would be announced in the Oslo Børs disclosure system.

Note that this announcement does not constitute an offer of securities for sale or issuance.

25 March 2020

Thin Film Electronics ASA

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