Farstad Shipping ASA – Reminder of last day of subscription period of the subsequent offering
NOT FOR PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, HONG KONG, CANADA, JAPAN, SWITZERLAND OR THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA).
Ålesund, Norway, 20 March 2017 – Reference is made to previous announcements of Farstad Shipping ASA ("Farstad" or the "Company") concerning the subsequent offering in the Company announced on 13 March 2017 (the "Subsequent Offering").
The subscription period for the Subsequent Offering of 142,857,142 new shares in the Company (the "Offer Shares") at a subscription price of NOK 0.35 per Offer Share expires tomorrow, 21 March 2017, at 16:30 hours, Oslo time.
The Subsequent Offering is directed towards eligible shareholders and eligible bondholders as further set out in the Company's stock exchange announcement dated 13 March 2017 and on such terms and conditions as set in the prospectus dated 13 March 2017 that has been prepared by the Company inter alia for the Subsequent Offering (the "Prospectus").
Please note that subscription rights that are not used to subscribe for Offer Shares before the expiry of the subscription period will have no value and will lapse without compensation to the holder.
The Subsequent Offering is managed by ABG Sundal Collier ASA and Pareto Securities AS (the "Managers").
The Prospectus, including the subscription form, is available at www.farstad.com, www.abgsc.no and www.paretosec.com and is also available free of charge at the business offices of the Company at Skansekaia 4A, 6002 Ålesund, Norway and may be obtained by contacting one of the Managers.
Subscriptions may be made by duly completing and delivering the subscription form, in accordance with the terms and conditions set out in the Prospectus, to one of the subscription offices set out therein. Subscribers who are Norwegian citizens may also subscribe for Offer Shares by following the link on www.abgsc.no or www.paretosec.com, which will redirect the subscriber to the VPS online subscription system. In order to use the online subscription system, the subscriber must have, or obtain, a VPS account number. All online subscribers must verify that they are Norwegian citizens by entering their national identity number (Norwegian: "personnummer").
For further information, please contact:
CEO Karl-Johan Bakken, tel. +47 901 05 697
CFO Olav Haugland, tel. +47 915 41 809
Farstad Shipping’s fleet currently consists of 56 vessels (27 AHTS, 22 PSV and 7 SUBSEA). The Company’s operations are managed from Aalesund, Melbourne, Perth, Singapore, Macaé and Rio de Janeiro with a total of 1,500 employees engaged onshore and offshore. The Company’s strategy is to be a leading quality provider of large, modern offshore service vessels to the oil industry.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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Important information:
The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Hong Kong, Canada, Japan, Switzerland 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. The securities mentioned herein have not been, and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act") or under the securities laws of any state of the United States and accordingly, the securities may be offered or sold in the United States pursuant only to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and any applicable state securities laws. 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. The securities referred to herein have not been and will not be registered under the applicable securities laws of Australia, Canada, Hong Kong, Japan or Switzerland and may not be offered, sold, taken up, exercised, resold, delivered or transferred, directly or indirectly, in or into Australia, Canada, Hong Kong, Japan or Switzerland. Copies of this announcement are not being made and may not be distributed or sent into Australia, Canada, Hong Kong, Japan, Switzerland or the United States. The subscription or purchase of shares in the Company is subject to specific legal or regulatory restrictions in certain jurisdictions. Neither the Company nor the Managers assumes any responsibility in the event there is a violation by any person of such restrictions.
The distribution of this release may in certain jurisdictions be restricted by law. Persons into whose possession this release comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute violation of the securities laws of any such jurisdiction. The Managers are acting for the Company and no one else in connection with the Subsequent Offering and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients or for providing advice in relation to any other matter referred to in this release.
Forward-looking statements:
This release and any materials distributed in connection with this release may contain certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect the Company's current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.