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Belships ASA Announces Preliminary Result of Mandatory Offer by Sonata AS


Monday, 16 Sep 2013 11:25am EDT 

Belships ASA announced, with reference to the mandatory offer made by Sonata AS (the Offeror) to acquire all outstanding shares in the Company that are not already owned by the Offeror, at a price of NOK 4 per share (the Offer), that the acceptance period of the Offer expired on September 16, 2013, at 16:30 CET. The preliminary result shows that the Offeror has received acceptance of the Offer for a total of 35,107 shares in the Company, representing approximately 0.074% of the issued shares in the Company. There may be adjustments to the preliminary result. The final result of the Offer will be announced at settlement of the Offer. Together with the 28,584,284 shares already held by the Offeror in the Company, the Offeror will, at completion of the Offer, hold 28,619,391 shares in the Company, representing 60.4% of all the issued shares of the Company. In addition, Sverre J. Tidemand and Atalanta AS, being close associate of the Offeror own 587,782 and 236,639 Belships Shares, respectively. In accordance with the terms and conditions set out in the Offer Document, settlement according to the Offer will take place as soon as possible and no later than on September 30, 2013. On the settlement date, the shares in the Company accepted and sold under this Offer will be transferred to Sonata against consideration payable in cash. Settlement will be made in Norwegian Kroner (NOK). ABG Sundal Collier Norge ASA is acting as financial advisor and receiving agent for the Offeror. 

Company Quote

5.0
0.09 +1.83%
7:14am EDT