Ensurge Micropower ASA – Issuance of Shares in connection with Share Consolidation

Rhea-AI Summary

Ensurge Micropower ASA announced on 24 February 2022 that its Extraordinary General Meeting approved an authorization for the board to issue shares for a share consolidation. Following this, the board has resolved to increase the share capital by NOK 0.44, moving from NOK 210,563,602.48 to NOK 210,563,602.92. This increase involves the issuance of 4 new shares, each priced at NOK 0.11. Post-registration, the total share capital will be NOK 210,563,602.92, divided into 1,914,214,572 shares, each with a par value of NOK 0.11.

Positive

• Share capital increase indicates company is maintaining investor confidence.

Negative

• Issued shares may lead to dilution of existing shareholder value.

Reference is made to the announcement by Ensurge Micropower ASA (the "Company") on 24 February 2022, wherein the Extraordinary General Meeting approved, inter alia, an authorization to the board to issue shares in connection with the contemplated share consolidation in the Company.

Pursuant to the board authorization, which may solely be used to make the total number of shares in the Company dividable by 9, the Company has consequently resolved to increase the Company’s share capital with NOK 0.44 from NOK 210,563,602.48 to NOK 210,563,602.92 by issuance of 4 new shares, each share having a par value of NOK 0.11, for a subscription price per share of NOK 0.11.    

Upon registration of this share capital increase, the Company's share capital will be NOK 210,563,602.92 divided into 1,914,214,572 shares, each share having a par value of NOK 0.11.

Contact
Ståle Bjørnstad - Investor Relations 
E-mail: stale.bjornstad@ensurge.com
Phone: +47 99 16 76 72
Kevin Barber - Chief Executive Officer 
E-mail: kevin.barber@ensurge.com

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

FAQ

What was announced by Ensurge Micropower ASA on February 24, 2022?

The company announced an authorization for the board to issue shares related to a share consolidation.

How much did Ensurge Micropower ASA increase its share capital?

The company increased its share capital by NOK 0.44.

How many new shares were issued by Ensurge Micropower ASA?

Ensurge Micropower issued 4 new shares.

What will be the new total share capital of Ensurge Micropower ASA?

The new total share capital will be NOK 210,563,602.92.

What is the par value of shares after the capital increase?

The par value of each share will be NOK 0.11 after the increase.