M Vest Water AS – Stabilisation and over-allotment notice


M Vest Water AS – Stabilisation and over-allotment notice

Bergen, 27 May 2021: Reference is made to the stock exchange release from M Vest Water AS (“M Vest Water ” or the “Company”) on 12 May 2021 regarding completion of a NOK 100 million private placement through the allocation of 8,000,000 shares in the Company at a price of NOK 12.50 (the “Offer Price”) per share in the Company (the “Offering”) in connection with the admission to trading of the Company’s shares (the “Shares”) on Euronext Growth Oslo.

Fearnley Securities AS (the “Manager” and the “Stabilisation Manager”) may engage in stabilisation activities of the Shares from tomorrow, 28 May 2021 to and including 25 June 2021 (the “Stabilisation Period”).

As part of the Offering, the Manager has over-allotted 1,200,000 Shares (the “Additional Shares”), which equals 15% of the Shares allocated in the Offering, excluding the Additional Shares. In order to permit delivery in respect of over-allotments made, the Stabilisation Manager has borrowed a number of Shares equal to the number of Additional Shares from M Vest Invest AS and Norwegian Water Technologies AS. Further, the Company has granted the Stabilisation Manager an option to subscribe, at the Offer Price, a number of shares equal to up to the number of Additional Shares (the “Greenshoe Option”). The Greenshoe Option may be exercised at any time and from time to time, in whole or in part, during the Stabilisation Period. The Stabilisation Manager can use the Greenshoe Option to close out short positions resulting from over-allotments made as part of the Offering and only to the extent such short positions have not been closed out by Shares acquired by the Stabilisation Manager when conducting stabilisation activities.

The Stabilisation Manager may effect transactions with a view to support the market price of the Shares at a level higher than what might otherwise prevail, by buying Shares on Euronext Growth at prices equal to or lower than (but not above) the Offer Price. There is no obligation on the Stabilisation Manager to conduct stabilisation activities and there is no assurance that stabilisation activities will be undertaken. Such stabilisation activities, if commenced, may be discontinued at any time, and will be brought to an end upon or before the expiry of the Stabilisation Period. Stabilisation may result in a price of the shares that is higher than might otherwise prevail, and the price may reach a level that cannot be maintained on a permanent basis.

If stabilisation activities are undertaken, the Company will publish information on the activities no later than seven trading days following such transaction(s). Further, within one week after the expiry of the Stabilisation Period, the Stabilisation Manager will publish information as to whether or not stabilisation activities were undertaken. If stabilisation activities were undertaken, the statement will also include information about: (i) the total amount of Shares sold and purchased; (ii) the dates on which the Stabilisation Period began and ended; (iii) the price range between which stabilisation was carried out, as well as the highest, lowest and average price paid during the Stabilisation Period; and (iv) the date at which stabilisation activities last occurred.

Any stabilisation activities will be conducted based on the same principles as set out in article 5(4) of the EU Market Abuse Regulation and chapter III of the supplemental rules set out in the Commission Delegated Regulation (EU) 2016/1052 with regard to regulatory technical standards for the conditions applicable to buy-back programmes and stabilisation measures

Any net profits from such stabilisation activities conducted by the Stabilisation Manager, if undertaken, will be to the benefit of the Company.

Fearnley Securities AS is engaged as financial advisors to the Company and acted as Manager and Bookrunner in connection with the Offering. Advokatfirmaet Thommessen AS is acting as Norwegian legal counsel to the Company.

For further information, please contact:

Stein Giljarhus, CEO, stein.giljarhus@mvestwater.com, +47 90 54 08 32

Morten Hilton Thomassen, CFO, mht@mvestwater.com, +47 92 25 85 70

About M Vest Water AS: M Vest Water is an environmental technology company who has developed unique products and solutions to the water treatment industry, both Industrial as well as the Municipal markets. Its products are non-toxic, biodegradable and can be left in nature without any harm to the environment. It obtains the highest degree of purification in a cost-efficient arrangement. Established in 2014 and with its shares admitted to trading on Euronext Growth Oslo in end of May 2021. For more information, visit www.mvestwater.com.

Important Notice:

This announcement is not and does not form a part of any offer to sell, or a solicitation of an offer to purchase, any securities of the Company. The distribution of this announcement and other information may be restricted by law in certain jurisdictions. Copies of this announcement are not being made and may not be distributed or sent into any jurisdiction in which such distribution would be unlawful or would require registration or other measures. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions.

The securities referred to in this announcement have not been and will not be registered under the

U.S. Securities Act of 1933, as amended (the “Securities Act”), and accordingly may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and in accordance with applicable U.S. state securities laws.

The Company does not intend to register any part of the offering or its securities in the United States or to conduct a public offering of securities in the United States. Any sale in the United States of the securities mentioned in this announcement will be made solely to “qualified institutional buyers” as defined in Rule 144A under the Securities Act.

In any EEA Member State, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Regulation, i.e., only to investors who can receive the offer without an approved prospectus in such EEA Member State. The expression “Prospectus Regulation” means Regulation 2017/1129 as amended together with any applicable implementing measures in any Member State.

This communication is only being distributed to and is only directed at persons in the United Kingdom that are (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”) or (ii) high net worth entities, and other persons to whom this announcement may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”). This communication must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this communication relates is available only for relevant persons and will be engaged in only with relevant persons. Persons distributing this communication must satisfy themselves that it is lawful to do so.

Matters discussed in this announcement may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as “believe”, “expect”, “anticipate”, “strategy”, “intends”, “estimate”, “will”, “may”, “continue”, “should” and similar expressions. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control.

Actual events may differ significantly from any anticipated development due to a number of factors, including without limitation, changes in investment levels and need for the Company’s services, changes in the general economic, political and market conditions in the markets in which the Company operates, the Company’s ability to attract, retain and motivate qualified personnel, changes in the Company’s ability to engage in commercially acceptable acquisitions and strategic investments, and changes in laws and regulation and the potential impact of legal proceedings and actions. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The Company does not provide any guarantees that the assumptions underlying the forward-looking statements in this announcement are free from errors nor does it accept any responsibility for the future accuracy of the opinions expressed in this announcement or any obligation to update or revise the statements in this announcement to reflect subsequent events. You should not place undue reliance on the forward-looking statements in this announcement.

The information, opinions and forward-looking statements contained in this announcement speak only as at its date, and are subject to change without notice. The Company does not undertake any obligation to review, update, confirm, or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this announcement.

Neither the Manager nor any of its affiliates makes any representation as to the accuracy or completeness of this announcement and none of them accepts any responsibility for the contents of this announcement or any matters referred to herein.

This announcement is for information purposes only and is not to be relied upon in substitution for the exercise of independent judgment. It is not intended as investment advice and under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy any securities or a recommendation to buy or sell any securities in the Company. Neither the Manager nor any of its affiliates accepts any liability arising from the use of this announcement.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation, and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.