June 25, 2020 / 2:40 PM / 7 days ago

BRIEF-Insr Insurance Group: Contemplated Private Placement

June 25 (Reuters) - Insr Insurance Group ASA:

* CONTEMPLATED PRIVATE PLACEMENT

* HAS RETAINED CARNEGIE TO CONDUCT A CONTEMPLATED PRIVATE PLACEMENT OF 14,815,625 NEW SHARES, CORRESPONDING TO AROUND 10% OF OUTSTANDING SHARE CAPITAL

* SUBSCRIPTION PRICE IN PRIVATE PLACEMENT HAS BEEN SET TO NOK 3.75, RESULTING IN GROSS PROCEEDS OF APPROXIMATELY NOK 55.6 MILLION SUBJECT TO ALL SHARES BEING ISSUED

* NET PROCEEDS FROM PRIVATE PLACEMENT WILL BE USED TO CONTINUE AND FURTHER INTENSIFY DIGITALISATION OF WHITE LABEL STRATEGY AND FOR GENERAL CORPORATE PURPOSES

* PRIVATE PLACEMENT WILL BE DIRECTED TOWARDS EXISTING SHAREHOLDERS, AS WELL AS OTHER NORWEGIAN AND INTERNATIONAL INVESTORS Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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