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2014-04-11

Hofseth Biocare ASA : Allocation to primary insiders in the private placement

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, TO THE U.S NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.
Reference is made to the stock exchange notice on 11 April 2014 regarding the results of the private placement in Hofseth BioCare ASA (the "Company", ticker "HBC").The following primary insiders of the Company have subscribed for and been allocated shares in the private placement at a price of NOK 4.50 per share.
Member of the Board and main shareholder, Roger Hofseth, has through related company Roger Hofseth AS subscribed for and been allocated 651,109 shares, conditional upon the completion of the transaction as further described in the stock exchange announcement from HBC. Following completion of the Private Placement, Roger Hofseth AS will own 15,693,735 shares and hold 3,850,000 shares through a forward contract. In addition, Roger Hofseth privately owns 287,374 shares. Total holdings post completion of the Private Placement will thus represent 19,831,109 shares, equal to 20.33% of the shares in the Company.
Chairman of the Board, Kjetil Olsen, has through related company Trolscon AS subscribed for and been allocated a total of 13,962 shares, conditional upon the completion of the transaction as further described in the stock exchange announcement from HBC. Following completion of the Private Placement, Kjetil Olsen and related companies will own 1,003,519 shares, equal to 1.03% of the shares in the Company.
Member of the Board, Bjørn Tunheim, has subscribed for and been allocated 62,221 shares, conditional upon the completion of the transaction as further described in the stock exchange announcement from HBC. Following completion of the Private Placement, Bjørn Tunheim will own 62,221 shares, equal to 0.06% of the shares in the Company.
CEO, Jon Olav Ødegård, has through related company Ødegård Prosjekt AS, subscribed for and been allocated 22,222 shares, conditional upon the completion of the transaction as further described in the stock exchange announcement from HBC. Following completion of the Private Placement, Ødegård Prosjekt AS will own 1,765,706 shares, equal to 1.81% of the shares in the Company.
CFO, Øystein Omvik, has directly and through related company Prisma Consult AS subscribed for and been allocated a total of 12,777 shares, conditional upon the completion of the transaction as further described in the stock exchange announcement from HBC. Following completion of the Private Placement, Øystein Omvik and related company will own 322,777 shares, equal to 0.33% of the shares in the Company.
Accountant, Magne Holsvik, has through related company Økonomiconsult AS subscribed for and been allocated 77,777 shares, conditional upon the completion of the transaction as further described in the stock exchange announcement from HBC. Following completion of the Private Placement, Magne Holsvik and related company will own 213,491 shares, equal to 0.22% of the shares in the Company.
Controller, Leif Arne Giske, has subscribed for and been allocated 22,222 shares, conditional upon the completion of the transaction as further described in the stock exchange announcement from HBC. Following completion of the Private Placement, Leif Arne Giske will own 22,222 shares, equal to 0.02% of the shares in the Company.
Reference is made to the stock exchange notice on 11 April 2014 regarding the conditions for the Private Placement.
For further information, please contact:

Mr. Jon Olav Ødegård, CEO Hofseth BioCare, Mobile: +47 936 32 966
Mr. Øystein Omvik, CFO Hofseth Biocare, Mobile: +47 936 99 400
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Hofseth Biocare ASA via Globenewswire

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