Thor Medical ASA: Disclosure of large shareholding – share lending

Oslo, Norway, 6 January 2025: Reference is made to the stock exchange announcements by Thor Medical ASA (the "Company") on 11 December 2024 regarding a private placement of new shares to be issued by the Company (the "Private Placement") and stock exchange announcement on 6 January 2025 regarding the completion of an extraordinary general meeting.

The extraordinary general meeting resolved to issue the 23,396,380 new shares (the "Offer Shares") in tranche 2 ("Tranche 2") of the Company's completed Private Placement. As part of the settlement arrangements for the Private Placement, the Company has entered into a share lending agreement (the "Share Lending Agreement") with Carnegie AS (the "Manager") and Scatec Innovation AS.

Under the Share Lending Agreement, Scatec Innovation AS has agreed to lend existing and unencumbered shares in the Company, already being traded on Euronext Oslo Børs, to the Manager for the settlement of Tranche 2 of the Private Placement. The borrowed shares will be used for settlement towards investors having been allocated Offer Shares in Tranche 2 of the Private Placement. The Offer Shares will be subscribed for by the Manager and, once issued, delivered to Scatec Innovation AS as redelivery of the shares borrowed for the purpose of the settlement of Tranche 2 of the Private Placement.

Prior to the completion of Tranche 2 of the Private Placement, Scatec Innovation AS held 66,002,256 shares in the Company, representing approx. 23.5% of the issued share capital and votes. Scatec Innovation AS has lent a total of 11,396,380 existing shares which will be delivered to the investors in Tranche 2 of the Private Placement other than Scatec Innovation AS. During the term of the loan, and prior to the redelivery, Scatec Innovation AS' shareholding in the Company will be reduced to 54,605,876, equivalent to approx. 19.5% of the issued share capital and votes. Consequently, Scatec Innovation AS has fallen below the 20% threshold pursuant to section 4-2 (1) and (3) of the Norwegian Securities Trading Act.

In addition, Scatec Innovation AS has controlling interest in Scatec Invest IV AS, which holds 3,165,920 shares in the Company. Scatec Innovation AS aggregated shareholding is thus 57,771,796 after the share lending, equivalent to approx. 20.6% of the issued share capital and votes in the Company.

This announcement is published in accordance with section 4-2 of the Norwegian Securities Trading Act and is subject to disclosure requirements pursuant to the EU Market Abuse Regulation article 19 (3) and the Norwegian Securities Trading Act section and 5-12.

 

Contacts

Brede Ellingsæter, CFO, Thor Medical ASA, +47 472 38 440, brede.ellingseter@thormedical.com

ABOUT THOR MEDICAL ASA

Thor Medical is an emerging supplier of radionuclides, primarily alpha particle emitters, from naturally occurring thorium. Its proprietary production process requires no irradiation or use of nuclear reactors, and provides reliable, environmentally friendly, cost-efficient supply of alpha-emitters for the radiopharmaceutical industry. Thor Medical is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol 'TRMED'.

To learn more, visit www.thormedical.no - https://www.thormedical.no.