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Renewable Energy Corp ASA Updates on Separation of REC Solar from REC Silicon

Thursday, 25 Jul 2013 02:30am EDT 

Renewable Energy Corp ASA (REC) announced with reference to press release of July 18, 2013 on separation of REC Solar from REC Silicon that the guarantee consortium for the separation has been expanded to include 19 additional shareholders as sub-underwriters in addition to the six original members of the guarantee syndicate. All additional underwriters are shareholders of REC as of July 17, and have been allocated the minimum NOK 4 million underwriting commitment as well as additional underwriting based on their subscription and their relative shareholding in REC ASA. All shareholders who subscribed for participation in the syndicate have thus been allocated a portion of the guarantee, and the 19 guarantors will jointly underwrite NOK 200 million of the anticipated NOK 800 million offering in REC Solar. 

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23 Jan 2015