ACCELLO LAUNCHES MANDATORY OFFER FOR ALL THE SHARES IN REACH SUBSEA ASA

12/7/2012 9:57 AM EST

Accello Partners I AS ("Accello") has resolved to 
launch an unconditional mandatory offer for all the 
issued and outstanding shares in Reach Subsea ASA 
("Reach") at a price of NOK 1.60 per Reach Share 
(the "Mandatory Offer").

The offer period in the Mandatory Offer runs from and 
including 10 December 2012 to 16:30 hours (CET) on 7 
January 2013.

Pareto Securities AS acts as receiving agent in 
relation to the Mandatory Offer.
   
The complete terms of the Mandatory Offer are set out 
in an offer document dated 7 December 2012, approved 
by Oslo Børs, and which will be distributed to all 
shareholders in Reach with known addresses and that 
legally may receive such document and accept the 
Mandatory Offer.

The offer document is also available free of charge 
at the website of the receiving agent 
(www.paretosec.com) and at the office of the 
receiving agent (Address: Pareto Securities AS, 
Dronning Mauds gate 3, P.O. Box 1411 Vika, 0115 Oslo, 
Norway, Tel: +47 22 87 87 00).

For further information please contact Accello 
Partners I AS:

Bjørge Gretland, tel: +47 92 60 98 10

Anders Onarheim, tel: +47 97 40 15 11 

About Accello Partners I AS
Accello Partners I AS is a newly established company 
initiated by Convexa AS, Spitsbergen AS and Staff-
Gruppen AS. It intends to be a long term active owner 
in Reach Subsea ASA and support the management team 
in building a leading subsea company.