REC Silicon - Cancellation of subsequent offering

(Oslo, 12 June 2019) Reference is made to the stock exchange notice of 9 April 2019 regarding the completion of a private placement (the "Private Placement"), and a contemplated subsequent offering (the "Subsequent Offering") of up to 50,000,000 shares directed towards the shareholders of REC Silicon ASA (the "Company") as of 9 April 2019 who were not allocated shares in the Private Placement or participated in the presounding.

The Company has decided not to initiate the Subsequent Offering.

Since the approval of the Private Placement and the authorization of the board to carry out the Subsequent Offering at the May 9 2019 shareholder meeting, the Company's shares have continuously traded on the Oslo Stock Exchange, with sufficient trading volume, at prices below subscription price of the contemplated Subsequent Offering. Shareholders wishing to neutralize the dilution effects of the Private Placement have therefore over a lengthy period had, and continues to have, the opportunity to purchase shares in the open market, at prices below the offer price of the contemplated Subsequent Offering.

For further information, please contact:
James A. May II, Chief Financial Officer
Phone: [phone]
Email: [e-mail]

Nils O. Kjerstad IR Contact
Phone: [phone]
Email: [e-mail]

About REC Silicon
REC Silicon is a leading producer of advanced silicon materials, delivering high-purity polysilicon and silicon gas to the solar and electronics industries worldwide. We combine 30 years of experience and proprietary technology with the needs of our customers, with annual production capacity of more than 20,000 MT of polysilicon from our two US-based manufacturing plants. Listed on the Oslo Stock Exchange (ticker: REC), the company is headquartered in Fornebu, Norway.

For more information, go to: www.recsilicon.com

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

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Source: REC Silicon ASA via Globenewswire