Ensurge Micropower ASA - Warrant Exercise

Rhea-AI Summary

On August 25, 2021, Ensurge Micropower ASA announced the exercise of a total of 195,813,603 Warrants B and an additional 46,955 Warrants C, increasing its share capital by NOK 21,544,661.38. The board confirmed that Warrants B have expired and may no longer be exercised. Following the new issuance, the total share capital will amount to NOK 192,114,763.72, divided into 1,746,497,852 shares with a par value of NOK 0.11 each. This update follows previous announcements regarding shareholder resolutions for private placements and share offerings.

Positive

• Successful exercise of 195,813,603 Warrants B and 46,955 Warrants C, increasing capital.
• Total share capital raised will now be NOK 192,114,763.72.

Negative

• Warrants B have expired, limiting future capital raising from this source.

Oslo, 25 August 2021

Reference is made to the announcements by Ensurge Micropower ASA (the "Company") on 20 May and 19 August 2020, regarding the Extraordinary General Meetings where the shareholders resolved to issue warrants to participants in two separate Private Placements and Subsequent Offerings of shares, and to the announcements on 30 June and 16 September 2020 regarding the results of such Subsequent Offerings.

The Company has received further notices of exercise for a total of 195,813,603 Warrants B. Furthermore, the Company has noted that two timely Warrant C exercise notices by inadvertence had not been included in the resolution by the board announced on 19 July 2021. Therefore, the board has resolved to include the Warrant C exercises for a total of 46,955 Warrants C in the current round of exercises. The Company has consequently resolved to increase the Company's share capital by NOK 21,544,661.38 in connection with the issuance of shares upon said exercises. Both Warrants B and Warrants C have an exercise price of NOK 0.25 per share.

Upon registration of this share capital increase, the Company's share capital will be NOK 192,114,763.72 divided into 1,746,497,852 shares, each share having a par value of NOK 0.11.

Warrants B are now expired and may no longer be exercised.

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 is the impact of the warrant exercises for ENMPY on share capital?

The warrant exercises will increase Ensurge Micropower's share capital by NOK 21,544,661.38, resulting in a total capital of NOK 192,114,763.72.

How many Warrants B and C were exercised by Ensurge Micropower?

A total of 195,813,603 Warrants B and 46,955 Warrants C were exercised.

What is the exercise price for the exercised Warrants B and C of ENMPY?

Both Warrants B and Warrants C had an exercise price of NOK 0.25 per share.

When did Ensurge Micropower announce the warrant exercise?

The warrant exercise was announced on August 25, 2021.

What will be the new total number of shares for ENMPY after the warrant exercises?

After the warrant exercises, Ensurge Micropower will have a total of 1,746,497,852 shares.