Ensurge Micropower ASA - Disclosure of Large Shareholdings

Rhea-AI Summary

On 13 May 2024, Ensurge Micropower ASA successfully placed a private placement of 54,775,545 new shares. This placement involved a share lending agreement with Skandinaviska Enskilda Banken AB and Robert Keith, who temporarily disposed of 51,154,871 shares. Consequently, Keith's holdings dropped from 63,201,813 shares (11.47% of total shares and votes) to 14,555,661 shares (2.4% of total shares and votes). This disclosure aligns with Section 4-2 of the Norwegian Securities Trading Act and was necessary due to Keith's holdings crossing below the 10% and 5% thresholds of total voting rights and shares.

Positive

• Successfully placed 54,775,545 new shares.
• Share lending agreement facilitated settlement of the private placement.

Negative

• Robert Keith's shareholdings decreased from 63,201,813 shares (11.47%) to 14,555,661 shares (2.4%).
• Crossing below 10% and 5% thresholds of total shares and votes may signify reduced influence.

Oslo, 14 May 2024 

This disclosure is sent on behalf of a certain large shareholder in Ensurge Micropower ASA (the "Company" or "Ensurge"). 

The Company disclosed on 13 May 2024 that it had successfully placed a private placement of 54,775,545 new shares in the Company. In connection with the private placement, a share lending agreement was entered into by the manager Skandinaviska Enskilda Banken AB (publ), the Company and Robert Keith. 

Robert Keith has lent shares in connection with the settlement of the private placement. As a result of the share lending, Robert Keith discloses the following information pursuant to Section 4-2 of the Norwegian Securities Trading Act and the Securities Trading Act Regulations: 

On 13 May 2024, following allocation in the private placement, execution of the share loan and the subsequent temporary disposal of 51,154,871 shares in the Company, Robert Keith's holdings of shares went from 63,201,813 shares, representing 11,47 % of the total number of shares and votes in the Company, to 14,555,661 shares, representing 2,4 % of the total number of shares and votes in the Company. 

The disclosure obligation was triggered by Robert Keith crossing below the 10% and 5% thresholds of total number of voting rights and shares in Ensurge.

FAQ

What was the outcome of Ensurge Micropower's recent private placement?

Ensurge Micropower successfully placed 54,775,545 new shares in the private placement on 13 May 2024.

How did the share lending agreement impact Robert Keith's holdings in Ensurge Micropower?

Due to the share lending agreement, Robert Keith's holdings decreased from 63,201,813 shares (11.47%) to 14,555,661 shares (2.4%).

What regulatory requirement triggered Robert Keith's disclosure regarding his shareholdings in Ensurge Micropower?

The disclosure was triggered by Keith's holdings crossing below the 10% and 5% thresholds of total voting rights and shares, as per Section 4-2 of the Norwegian Securities Trading Act.

When did Ensurge Micropower disclose the private placement of new shares?

Ensurge Micropower disclosed the private placement of new shares on 13 May 2024.

What percentage of total shares and votes did Robert Keith hold after the private placement?

After the private placement, Robert Keith held 2.4% of the total shares and votes in Ensurge Micropower.