Asetek A/S Launches Initial Public Offering

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Monday, 04 March 2013 13:00

PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS STOCK EXCHANGE NOTICE

Bronderslev, 4 March 2013 – The board of directors of Asetek A/S (“Asetek” or the “Company”) has today resolved to offer between 3,600,000 and 4,350,000 New Shares with the aim of raising gross proceeds of up to NOK 144 million (approx. USD 25 million) in the Initial Public Offering (the “Offering”) to be completed in connection with the listing of the Company’s shares on the Oslo Stock Exchange, alternatively Oslo Axess. Furthermore, existing shareholders have resolved to offer up to 2,000,000 Secondary Shares and granted the joint bookrunners an over-allotment option of up to approx. 15% of the base deal. The indicative price range has been set at between NOK 33 to NOK 40 per share, implying a market capitalisation of Asetek prior to the Offering (including conversion of a USD 3 million convertible loan) of between NOK 327 million and NOK 392 million (approx. USD 57 - 68 million).

For further information, please contact:
André S. Eriksen, CEO: +1 408 398 7437
www.asetek.com

About Asetek:

Asetek is the leading provider of energy-efficient liquid cooling systems for data centers, servers, workstations, gaming and high performance PCs. The Company's products are used for reducing power and greenhouse gas emissions, lowering acoustic noise, and achieving maximum performance by leading OEMs and channel partners around the globe. Asetek's products are based upon the Company's patented all-in-one liquid cooling technology, with more than 1.3 million liquid cooling units sold and deployed in the field.

Important notice:
These materials are not an offer for sale of securities.

Copies of this announcement are not being made and may not be distributed or sent into the United States, Canada, Australia, Hong Kong, Japan or any other jurisdiction in which such distribution would be unlawful or would require registration or other measures.

The securities have not been registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act. The Company does not intend to register any part of the offering in the United States or to conduct a public offering of securities in the United States.

Any offering of securities will be made by means of a prospectus that may be obtained from the issuer or the joint-lead managers and that will contain detailed information about the Company and management, as well as financial statements. This document is an announcement and not a prospectus for the purposes of Directive 2003/71/EC (together with any applicable implementing measures in any Member State, the "Prospectus Directive"). Investors should not subscribe for any securities referred to in this document except on the basis of information contained in the prospectus.

In any EEA Member State other than Norway that has implemented the Prospectus Directive, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Directive, i.e., only to investors who can receive the offer without an approved prospectus in such EEA Member State.

This communication is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (iii) above together being referred to as "relevant persons"). The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

Matters discussed in this release 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," "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. 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 information, opinions and forward-looking statements contained in this release speak only as at its date, and are subject to change without notice.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
 

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