Allocation of the Rights Issue

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PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS STOCK EXCHANGE NOTICE

 

Oslo, 14 June 2017.

 

The subscription period in the rights issue (the "Rights Issue") in Siem Offshore Inc. (the "Company") ended on 12 June 2017 at 16:30. The board of directors of the Company has now resolved the allocation from the Rights Issue.

 

Subscriptions were received for a total of 101,402,548 shares during the subscription period. A total of 100,000,000 new shares were allocated in the Rights Issue at a subscription price of NOK 1.90 per share, giving gross proceeds of NOK 190 million. 82,984,357 new shares were allocated to Siem Europe S.a r.l.

 

All subscribers that have been allocated new shares will receive a letter confirming the number of new shares allocated to the subscriber and the corresponding amount to be paid. This letter is expected to be distributed on or about 15 June 2017. The payment date for the new shares is 19 June 2017 and delivery will take place on or about 23 June 2017. Following the registration of the issuance of new shares, the total number of shares in the Company will increase by 100,000,000, from 842,021,380 shares to 942,021,380 shares.

 

It is expected that the new shares will be admitted to trading on Oslo Børs on or about 23 June 2017.

 

Swedbank has acted as Manager in the Rights Issue.

 


For further queries, please contact:

CFO, Dagfinn B. Lie, Tel.: +47 90 19 90 51

 

 

This information is subject of the disclosure requirements pursuant to section 5-12 of the

Norwegian Securities Trading Act.

 

Important Information:

 

The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia).This release is an announcement issued pursuant to legal information obligations, and is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction.

Published 14-06-2017 in the Investor category
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