Anchor completes mandatory offer for REC Silicon shares

Anchor completes mandatory offer for REC Silicon shares

Anchor AS has successfully completed its mandatory offer to acquire all remaining shares in REC Silicon ASA, following a period of intense activity and regulatory compliance. The offer, which was initially announced on July 31, 2025, aimed to acquire all issued and outstanding shares of REC Silicon ASA at an offer price of NOK 2.20 per share.

The acceptance period for the offer expired on August 29, 2025, at 16:30 (CEST). As of the expiry of the offer, Anchor AS received acceptances for 62,314,929 shares, corresponding to approximately 14.81% of the issued and outstanding share capital and voting rights of REC Silicon ASA. This acceptance will increase Anchor AS's shareholding in the company from 184,839,587 shares to 247,154,516 shares, representing approximately 58.76% of all outstanding shares [1].

The settlement of the offer is scheduled to be made by September 12, 2025, to shareholders who accepted the offer in accordance with the terms of the offer document. DNB Carnegie, a part of DNB Bank ASA, acted as the financial advisor and receiving agent, while Advokatfirmaet Wiersholm served as the legal advisor and First House AS as the communications adviser to the offeror. Arctic Securities AS and Advokatfirmaet Schjødt AS acted as the financial and legal advisors to REC Silicon ASA, respectively [1].

The completion of this mandatory offer is significant for Anchor AS, as it will allow the company to cross the 50% threshold for disclosure of major shareholding pursuant to the Norwegian Securities Trading Act section 4-2. This threshold is crucial for Anchor AS as it will enable the company to gain more control over REC Silicon ASA's operations and strategic decisions [1].

The offer has been subject to regulatory scrutiny and compliance, with Anchor AS and REC Silicon ASA both adhering to the legal requirements and disclosures stipulated by the Norwegian Securities Trading Authority. The completion of the offer marks a milestone in Anchor AS's strategic expansion into the renewable energy sector, where REC Silicon ASA plays a pivotal role in producing high-purity polysilicon for solar panels.

References:
[1] https://www.marketscreener.com/quote/stock/REC-SILICON-ASA-1413255/news/
[2] https://www.tradingview.com/news/reuters.com,2025-08-29:newsml_MFN4dpLmc:0-rec-silicon-preliminary-results-for-the-mandatory-offer-to-acquire-all-remaining-shares-in-rec-silicon-asa-and-disclosure-of-major-shareholding/