Songa Offshore SE Announce Completion of share capital reduction

Songa Offshore SE Announce Completion of share capital reduction

Reference is made to previous stock exchange announcements by Songa Offshore SE (the “Company”) regarding the subsequent offering (the “SubsequentOffering”) and listing of up to 1,418,100,000 shares (the “OfferShares”) and the refinancing announced on 15 March 2016 (the “Refinancing”).
As announced as part of the Refinancing and approved by the Company’s extraordinary general meeting on 13 April 2016, the Company has sought to carry out a reduction in the nominal value of the Company’s ordinary shares from EUR 0.11 to EUR 0.001, by way of a reduction of share capital without distribution.
songaThe nominal value and capital reduction have now been completed. As a consequence, the Offer Shares to be delivered in the Subsequent Offering will be ordinary shares listed on Oslo Børs. The same applies to shares issued as a result of any future exercise of warrants or convertible bonds.
Shares delivered to unsecured lenders as part of the debt conversion under the Refinancing will as described in the Refinancing terms remain as unlisted Class A-Shares until the Company has published its Q3 2016 report.
The subscription period for the Subsequent Offering commenced on 30 May 2016 and expires at 16:30 hours, Oslo time, on 13 June 2016 (the “Subscription Period”). The Prospectus together with the Subscription Form is available at www.songaoffshore.com, www.abgsc.no and www.swedbank.no, and will also be available free of charge at the business offices of the Company, ABG Sundal Collier ASA and Swedbank. The Subsequent Offering is managed by ABG Sundal Collier ASA and Swedbank.
Source: Songa Offshore
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