Minesto's CEO subscribes for shares through P0 warrants

June 05, 2020

Minesto's CEO Dr Martin Edlund has subscribed for 140,000 shares in Minesto AB through the exercise of allotted warrants of series P0.

At the same time, Martin Edlund has sold approximately 88,000 shares, among other things to finance the exercise of the P0 warrants. In total, Martin Edlund's holding in Minesto AB increases by approximately 52,000 shares after the transactions.

In May 2013, the Board of Directors of Minesto decided to issue warrants of series P0 to employees of the company. One (1) P0 warrant gives the holder the right to subscribe for one (1) share in the company at a subscription price of SEK 5.95.

Of the original volume of a total of 712,000 P0 warrants, 28,500 remain to be exercised. The subscription period ends on June 30, 2020.

For additional information please contact

Martin Edlund, CEO

+46 31 29 00 60

press@minesto.com

About Minesto

Minesto is a leading marine energy technology company with the mission to minimise the global carbon footprint of the energy industry by enabling commercial power production from the ocean.

Minesto’s award winning and patented product, Deep Green, is the only verified marine power plant that operates cost efficiently in areas with low-flow tidal streams and ocean currents.

With more than €40 million of awarded funding from the European Regional Development Fund through the Welsh European Funding Office, European Innovation Council and InnoEnergy, Minesto is the European Union’s largest investment in marine energy to date.

Minesto was founded in 2007 and has operations in Sweden, Wales, Northern Ireland and Taiwan. The major shareholders in Minesto are BGA Invest and Midroc New Technology. The Minesto share (MINEST) is traded on Nasdaq First North Growth Market. Certified Adviser is G&W Fondkommission, email: ca@gwkapital.se, telephone: +46 8 503 000 50.

Read more about Minesto at www.minesto.com

Press images and other media material is available for download via bit.ly/Minesto_media.