REC Silicon Annual Report 2019

88 Notes to the financial statements, REC Silicon ASA REC Silicon Annual Report 2019 EQUITY (USD INTHOUSAND) SHARE CAPITAL SHARE PREMIUM OTHER EQUITY AND RETAINED EARNINGS (UNCOVERED LOSSES) TOTAL Equity at January 1, 2018 310,033 238,854 1,268 550,155 Loss for the year 0 -238,854 -97,133 -335,988 Equity at December 31, 2018 310,033 0 -95,865 214,167 Share issue 2,915 16,115 0 19,030 Share Capital reduction -279,029 0 279,029 0 Loss for the year 0 -16,115 -68,857 -84,972 Equity at December 31, 2019 33,918 0 114,307 148,225 At December 31, 2019, REC Silicon ASA had 24,878 shareholders (24,553 at December 31, 2018). The total number of outstanding shares was 279,820,066 at December 31, 2019 and 2,543,818,785 at December 31, 2018, each with a par value of NOK 1. PRIVATE PLACEMENTOF EQUITY On May 14, 2019 new share capital reflecting the issue of the 25,438,187 new A-shares approved at the Company’s annual general meeting (AGM) was registered in the Norwegian Register of Business Enterprises. As of that date, the Company’s share capital was NOK 2,569,256,972, consisting of 2,543,818,785 ordinary shares and 25,438,187 class A-shares, all of NOK 1 par value. The A-shares were issued at NOK 6.70 each with 10 voting rights. The net proceed was NOK 166,100 thousand (USD 19,030 thousand) after deduction of NOK 4,336 thousand (USD 497 thousand). SHARE CAPITAL REDUCTION The share capital reduction was implemented by reducing the par value of the ordinary share fromNOK 1.00 to NOK 0.10. Total reduction equal to USD 279,029 thousand was transferred to other equity according to the AGMdecision. On July 3, 2019 the share capital reduction and the conversion of the Class A Shares was completed and registered with the Norwegian Register of Business Enterprises. Consequently, the new share capital of the Company was NOK 279,820,065.50 divided on 2,798,200,655 ordinary shares, each with a par value of NOK 0.10. At the same time, 5 shares were issued with a par value of NOK 0.10. The Company share capital was NOK 279,820,066 divided on 2,798,200,660 ordinary shares, each with a par value of NOK 0.10. REVERSE SHARE SPLIT On July 9, 2019 the Company’s shares were combined in a ratio of 10:1, whereby 10 old shares were combined to give 1 new share. Subsequent to the share consolidation, the Company has 279,820,066 shares in issue, each with a nominal value of NOK 1. After the reverse share split, all shares have the same voting rights. G