Multipower ASA: Issue of Equity | Company Announcements

Tuesday 23 December, 2008

Multipower ASA

Issue of Equity

RNS Number : 7206K

Multipower ASA

23 December 2008

MultiPower ASA

('MultiPower' or 'the Company')

Issue of Equity

The directors of the Company are pleased to announce that the Company has raised NOK 1.62 million (before expenses) through a placing of 27,062,499 new ordinary shares of NOK 0.025 (the 'Placing Shares'). The Placing Shares were issued at a placing price of NOK 0.06 per share.

The funds raised will be used as working capital to facilitate the expected growth in sales from Multipower's distribution agreement with U2-Soft, which gives the Company access to 22 new markets in the Middle East and Africa.

Application has been made for the Placing Shares to be admitted to AIM and it is expected that trading will commence on 31 December 2008. Following the issue of the Placing Shares, the total number of shares in issue is 215,159,069.

Enquiries:

MultiPower

Jens M. Teigen

Chief Executive Officer

00 47 9004 5073

Hanson Westhouse Limited

Bill Staple

+ 44 20 7601 6100

This information is provided by RNS

The company news service from the London Stock Exchange

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