Farstad Shipping ASA – Registration of share capital increase and listing of offer shares
Ålesund, Norway, 22 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") and the prospectus dated 13 March 2017 regarding inter alia the Subsequent Offering.
Pursuant to an advance payment agreement entered into with the Company, Aker Capital AS and Hemen Holding Limited have undertaken to advance payment for the Offer Shares on behalf of the subscribers in the Subsequent Offering. The advance payment was made by Aker Capital AS and Hemen Holding Limited on 21 March 2017.
Accordingly, the share capital increase pertaining to the Subsequent Offering has been duly registered in the Norwegian Register of Business Enterprises, and the Offer Shares have been admitted to listing on the Oslo Stock Exchange.
Following registration of the share capital increase, the Company's share capital is NOK 243,177,033.95 divided into 4,863,540,679 shares, each share having a par value of NOK 0.05. The shares have been delivered to a preliminary VPS account, and are expected to be delivered to subscribers' VPS accounts on or about 28 March 2017, subject to due payment from the subscribers. The Offer Shares are tradable upon delivery to subscribers.
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.