REACH: MANDATORY OFFER - MANDATORY NOTIFICATION OF TRADE
Reference is made to the stock exchange notice dated
7 December 2012 and the offer document of the same
date relating to the mandatory offer made by Accello
Partners I AS ("Accello") to acquire all the issued
and outstanding shares in Reach Subsea ASA ("Reach")
that are not already owned by Accello, at an offer
price of NOK 1.60 per Reach share (the "Mandatory
Today, Accello has received acceptances under the
Mandatory Offer representing in aggregate 3,228
shares in Reach.
Consequently, as of today, Accello owns 15,625,000
Reach shares and has the right and obligation to
acquire a total of 5,113 Reach shares upon
consummation of the Mandatory Offer. Based on this,
Accello will own 15,630,113 Reach shares following
completion of the Mandatory Offer.
The offer period in the Mandatory Offer expires at
16:30 hours (CET) on 7 January 2013.
Accello is represented in the board of directors of
Reach by Anders Onarheim.