Ensurge Micropower ASA - Disclosure of Large Shareholdings

Rhea-AI Summary

Ensurge Micropower ASA reported that Viking Power Systems Pte Ltd has been allocated 50,750,000 shares in a recent Private Placement, following the approval of issuance for 500,000,000 shares at the Extraordinary General Meeting on March 14, 2023. This allocation raises Viking Power's shareholding to 6.81% of the total outstanding shares of the Company. The disclosure is mandated by Norwegian law as the shareholder has crossed the 5% threshold for voting rights and shares.

This event is pivotal as it signifies a notable increase in Viking Power's stake in Ensurge Micropower ASA.

Positive

• Viking Power Systems Pte Ltd now holds 6.81% of total outstanding shares, strengthening its position in the Company.

Negative

• None.

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

Reference is made to the announcement by the Company on 14 March 2023 regarding the approval of the Private Placement of 500,000,000 new shares by the Extraordinary General Meeting. Having been allocated new shares in the Private Placement, Viking Power Systems Pte Ltd discloses the following information pursuant to Section 4-2 of the Norwegian Securities Trading Act and the Securities Trading Act Regulations.

Viking Power Systems Pte Ltd will be issued 50,750,000 shares in the Private Placement. Upon registration of the Private Placement in the Norwegian Register of Business Enterprises and subsequent delivery of shares, the shareholding will represent 6.81% of the Company's total number of outstanding shares, holding a total of 50,750,000 shares in the Company. 

The disclosure obligation is triggered by the shareholder crossing above the 5% threshold of total number of voting rights and shares in Ensurge Micropower ASA.

17 March 2023

Ensurge Micropower ASA