Completion of offering of new shares in NKT A/S in connection with directed issue and private placement

Company Announcement

13 May 2020
Announcement No. 11

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR SOUTH AFRICA OR IN ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

Completion of offering of new shares in NKT A/S in connection with directed issue and private placement

The offering (the Offering) of up to 4,951,106 new shares in NKT A/S (NKT or the Company) has now been successfully completed through an accelerated book-building process. Reference is made to company announcement no. 9 of 13 May 2020.

NKT has successfully completed a directed issue and private placement of 4,951,106 new shares (the New Shares) at an offer price of DKK 138 per share, raising gross proceeds to NKT of approximately DKK 683 million.

The Offering was made pursuant to applicable exemptions from the obligation to publish a prospectus in a directed issue and private placement and subscribed for by eligible institutional and professional investors in Denmark and in certain other jurisdictions at market price and without pre-emption rights for NKT’s existing shareholders.

On 13 May 2020, NKT announced its plan to strengthen its capital base, cf. Company announcement no. 8. The Offering is the first step in the execution of such capital plan and the net proceeds from the Offering will be used to strengthen NKT's capital base as set out in said announcement.

As the Offering was oversubscribed, an individual allocation of the New Shares was made.

Capital increase

Subject to settlement, a share capital increase will be registered with the Danish Business Authority and the share capital of NKT will hereafter consist of 32,232,027 shares of DKK 20 each, equivalent to a registered share capital of DKK 644,640,540.

The New Shares represent approximately 18.15 % of NKT’s registered share capital before the capital increase and will account for approximately 15.36 % of NKT’s registered share capital upon completion of the capital increase.

Admission to trading and official listing

The New Shares will be issued under the temporary ISIN code DK0061283942. No application for admission to trading and official listing has been, or will be, filed for the New Shares issued under the temporary ISIN code, and the temporary ISIN code will only be registered with VP Securities A/S for subscription of the New Shares. The temporary ISIN code in VP Securities A/S will be merged with the permanent ISIN code for the existing shares, DK0010287663, as soon as possible following registration of the share capital increase with the Danish Business Authority. The New Shares are expected to be admitted to trading and official listing on Nasdaq Copenhagen A/S on or around 18 May 2020.