Preliminary results of the Subsequent Offerings in Solstad Offshore ASA
October 28 2016 - 2:00AM
Reference is made to the previous announcements
made by Solstad Offshore ASA ("Solstad Offshore") and Rem Offshore
ASA ("Rem Offshore") and the prospectus dated 9 September 2016 (the
"Prospectus") related to the subsequent offerings in Solstad
Offshore directed towards (i) shareholders in Solstad Offshore of
up to 3,188,811 class A-shares in Solstad Offshore (the "Solstad
Subsequent Offering"), and (ii) shareholders in Rem Offshore of up
to 1,600,000 class B-shares in Solstad Offshore (the "Rem
Subsequent Offering"), hereinafter referred to as the "Subsequent
Offerings".
The application period of the Subsequent Offerings
expired on 27 October 2016 at 16:30 CET. A preliminary counting of
the applications indicates that the Solstad Subsequent Offering was
oversubscribed with approximately 4,646,840 class A-shares applied
for out of a total of 3,188,811 class A-shares available and that
the Rem Subsequent Offering was not fully subscribed with
approximately 83,965 class B-shares applied for out of a total of
1,600,000 class B-shares available. The total gross proceeds from
the Subsequent Offerings will be approximately NOK 41 million.
Allocation of class A-shares in the Solstad
Subsequent Offering and a conditional allocation of class B-shares
in the Rem Subsequent Offering will be resolved on or about 28
October 2016 by the Board of Directors of Solstad Offshore in
accordance with the allocation criteria set out in the Prospectus.
The final result of the Subsequent Offerings is expected to be
published on or about 28 October 2016. Letters of allocation in the
Solstad Subsequent Offering and conditional letters of allocation
in the Rem Subsequent Offering will be distributed to investors
giving notification of allocated new shares and the corresponding
amount to be paid by each applicant.
Contact details:
Ola Beinnes Fosse
CFO/deputy CEO
+47 975 31 227
This
information is subject of the disclosure requirements acc. to §5-12
vphl (Norwegian Securities Trading Act)
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: REM Offshore ASA via Globenewswire
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