Reference is made to the stock exchange announcement made by Morrow Bank ASA (the "Company") on14 June 2023 regarding the successfully completed private placement and the potential subsequent offering of up to 6,800,000 new shares at a subscription price ofNOK 4.50 per share (the "Subsequent Offering"). The purpose of the potential Subsequent Offering was to limit the dilutive effect for shareholders who did not participate in the private placement. Following the announcement, a significant volume of shares has been traded at or below the subscription price in the Subsequent Offering. The share price is currently trading atNOK 3.95 as of end of trading on14 August 2023 , which represents a discount of 12 % compared to the subscription price in the Subsequent Offering. Accordingly, shareholders wishing to reduce the dilutive effect of the private placement have had the opportunity to purchase shares in the Company in the market at prices at or below the subscription price in the Subsequent Offering. As a result of this, the Company's board of directors have resolved to not proceed with the Subsequent Offering.
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