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MultiPower ASA

 

(the 'Company')

Director and other shareholding

Mr Jens Teigen, interim CEO of the Company, has notified the Company today that he has transferred part of his interest in the Company to Megard AS. 

As announced on 28 July 2008 Mr Teigen held 48,785,802 ordinary shares in the Company ('Ordinary Shares') through his interests in Springfield AS. This holding of 48,785,802 Ordinary Shares was sold to Megard AS, a company controlled by Mr Teigen, on 22 December 2008 for NOK 0.05per Ordinary Share.

    

Prior to this transaction and as announced on 16 October 2008 Mr Teigen held, through his interest in Megard AS, 20,000,000 Ordinary Shares acquired from SoftCity Holding AS (another company controlled by Mr Teigen). Following the transaction on 22 December Megard AS's total interest in the Company is 68,785,802 Ordinary Shares.

Springfield AS now holds 6,364,583 Ordinary Shares subscribed for in the recent private placing at NOK 0.06 carried out by the Company and announced in the notice of Extraordinary General Meeting on 19 November 2008 (the 'Placing'). The shares were admitted to trading on AIM on 23 December 2008.

In addition, Mr Teigen has a 24.9 per cent interest in Maribu Holdings AS which holds 19,142,840 Ordinary Shares.

Following the above transaction Mr Teigen now has an interest in the following Ordinary Shares:

 

		Number of shares	Percentage Holding
Megard AS		68,785,802	31.97
Springfield AS		6,364,583	2.96
Maribu Holdings AS		19,142,840	8.90
		94,293,225	43.82

In addition the Company was also notified today that GladiNOK AS holds 9,333,333 Ordinary Shares representing 4.34 per cent of the issued share capital of the Company having subscribed for 1,833,333 in the Placing.

Enquiries:

HansonWesthouse

Bill Staple Martin Davison

020 7601 6100

 

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