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2014-04-30

Hofseth Biocare ASA: Hofseth Biocare ASA:Amendment to proposed resolution at EGM 2 May and update on conditions for the private placement

Reference is made to the stock exchange notice dated 11 April 2014 regarding
notice for an extraordinary general meeting to be held on 2 May 2014.

The Board of Directors makes the following amendments to the proposed
resolutions regarding a private placement and an authorization to the Board
of Directors for issuance of new shares:

* For item 4 regarding a proposal to issue shares in a private placement,
subsections (v) and (vi) are amended to:

"(v) The subscription of the new shares will take place on a
separate
subscription form within 3 May 2014
"

"(vi) The subscription amount for the new shares shall be settled
in cash or by
offsetting as specified for the individual investor in Appendix 2. Cash
payments shall be made to a separate bank account within 5 May 2014 for those
investors who shall settle the subscription amount in cash. For the investors
who shall settle the subscription amount by offsetting, the amounts specified
in Appendix 2 shall be used to settle the subscription amount in its
entirety. The outstanding amounts that will be used to offsetting constitutes
to a total of NOK 22,646,110.50. Such set off shall be deemed to have taken
place from the time the new shares are subscribed"

* For item 5 regarding an authorization to the Board of Directors for
issuance of new shares, the first paragraph is amended to:

"In accordance with the Norwegian Public Limited Liability
Companies Act
section 10-14 the Board is given authorization to increase the share capital
of the company through issuance of new shares with a total par value of up to
NOK 9,753,608, corresponding to 9,753,608, each with a par value of NOK 1.
"

Reference is furthermore made to the conditions to the private placement, as
specified in the company presentation dated 10 April 2014. The conditions
have been met, as specified below:

* All outstanding shareholder loans have been extended until 1 October 2015
with neither amortization nor payment of accrued interest being made prior
to the maturity date of the principal amount.
* The company is in compliance with its existing loan agreements at the time
of the extraordinary general meeting.
* The audited 2013 annual accounts shall be discussed and adopted by the
Board of Directors in a board meeting to be held today, 30 April 2014,
after close of trading on the Oslo stock exchange.

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

---------------------------------------

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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