Reference is made to the stock exchange announcement dated 30 May 2006.
Simrad Optronics ASA has on 30 May 2006 completed a private placement of a total of 3,722,250 new shares at a subscription price of NOK 4.30 per share. Gross proceeds from the private placement amounted to NOK 16,005,675.
The issued share capital of Simrad Optronics ASA after the private placement will be NOK 27,201,900 equalling 40,944,754 shares, each with a par value of NOK 0.66.
The purpose of this capital increase is to strengthen the equity base and to prepare the company for further growth.
The private placement attracted strong interest and was more than three times over-subscribed.
The Board of Directors has allocated the new shares and allocation letters will be sent to the subscribers today. Payment date is set to Tuesday 6 June 2006. The new shares will in all respects be equal to the existing shares in Simrad Optronics ASA, once the new shares have been issued and registered at the Brønnøysund register centre and the VPS. Such registration is expected to occur on or about 9 June 2006, barring unforeseen circumstances.
The private placement was managed by Orion Securities.
CEO Tore Amundsen +47 900 51 222 CFO Eli Longva +47 934 80 840
