Final result of rights issue and completion of private placement
Not for distribution or release, directly or indirectly, in or into the united states or any other jurisdiction in which the distribution or release would be unlawful.
The subscription period for the rights issue (the “Rights Issue”) in AqualisBraemar ASA (the “Company”) expired at 16:30 hours (CET) on 8 July 2019. At the expiry of the subscription period, the Company had received subscriptions for a total of 12,992,626 new shares. 8,882,575 new shares (the “Rights Issue Shares”) were offered under the Rights Issue and the Rights Issue was accordingly oversubscribed by 46%.
The final allocation of the Rights Issue Shares has now been completed based on the allocation criteria set out in the Company’s prospectus dated 21 June 2019 (the “Prospectus”).
7,109,740 shares, constituting 80.0% of the Rights Issue Shares, were subscribed for and allocated through the exercise of subscription rights. 1,772,835 shares, constituting 20.0% of the Rights Issue Shares, are allocated pro-rata to subscribers who have oversubscribed based on the number of subscription rights exercised by each subscriber. No allocation has been made to subscribers without subscription rights.
In accordance with the terms of the private placement (the “Private Placement”) previously announced and described in the Prospectus, Braemar Shipping Services plc has agreed to subscribe for and will be allocated 4,375,000 shares (the “Private Placement Shares”) at an issue price of NOK 3.96 per share.
Notifications of allocated Rights Issue Shares and the corresponding subscription amount to be paid by each subscriber are expected to be distributed today. Payment for the allocated Rights Issue Shares falls due on 11 July 2019 in accordance with the payment procedures described in the Prospectus.
The new shares may not be transferred or traded before they have been fully paid and the share capital increase pertaining to the Rights Issue and the Private Placement has been registered with the Norwegian Register of Business Enterprises (Nw. Foretaksregisteret). It is expected that the share capital increase will be registered in the Norwegian Register of Business Enterprises on or about 17 July 2019. It is expected that the Rights Issue Shares and the Private Placement Shares will be transferred to the VPS accounts of the subscribers and admitted to trading on the Oslo Stock Exchange on the same date.
Investors and financial media
Kim Boman, CFO, AqualisBraemar ASA
Telephone: +47 959 63 912
Other media enquiries
Endre Johansen, Corporate Communications AS
Telephone: +47 41 61 06 05
Email: endre.johansen@corpcom.no
About AqualisBraemar ASA
AqualisBraemar ASA (OSE: Aqua) is a public listed company that, through its subsidiaries and associates, offers adjusting, marine, offshore and renewables consultancy services to the energy, shipping and insurance industries. The group employs specialist engineers, naval architects, master mariners, loss adjusters and technical consultants in 48 offices located across 5 continents in 33 countries. AqualisBraemar ASA operates under three distinct brands globally:
- AqualisBraemar: a leading adjusting, marine and offshore consultancy to the energy, shipping and insurance industries
- AqualisBraemar Yacht Services: a specialised marine consultant to the superyacht market
- Offshore Wind Consultants: an independent consultancy to the offshore renewables sector
This information is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
This announcement may not be distributed or sent into the United States or any other jurisdiction in which such distribution would be unlawful or would require registration or other measures. These materials are not an offer for sale of securities in the United States or any other country. The securities referred to herein have not been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), and may not be sold in the United States absent registration or pursuant to an exemption from registration under the U.S. Securities Act. The Company does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States.