Oslo, 28 July 2021) Saga Pure ASA (Saga, OSE: SAGA) exercises options to
subscribes for shares NOK 30 million in a private placement in Bergen Carbon
Solutions AS (BCS), a company which has developed a technology for converting
CO2 to high value carbon nanofibers (CNF). Saga will have an ownership of 28% in
BCS after the private placement has been completed.
Reference is made to the stock exchange releases from 11, 18 December 2020 and
15 June 2021, where it was announced that Saga had entered into an option
agreement to acquire shares for up to NOK 30 million. Saga is hereby exercising
the options in the option agreement, whereby Saga will subscribe 4,978,000
shares at NOK 6,03 per share following all necessary corporate resolutions by
BCS being implemented. Saga will not have any options in BCS after the private
placement has been completed. The shares from the private placement and the
existing shares in BCS owned by Saga is subject to a lock up until October 2021.
"We are very happy with the development we have seen in BCS over the course of
2021, and numerous companies both domestically and internationally are now
exploring the value BCS can bring to their operations, whether they have a CO2
source, or are developing products where CNF can improve the quality and
performance. The potential for this company going forward is significant," says
Bjørn Simonsen, CEO of Saga Pure.