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Reach Subsea ASA (REACH.OL)

REACH.OL on Oslo Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Reach Subsea: Gets subscriptions for 3.4 mln shares in subsequent offering
Tuesday, 14 Mar 2017 05:49am EDT 

Reach Subsea ASA : Says has received subscriptions for total of 3.4 million new shares which were covered by subscription rights . Subsequent offering consisted of up to 6,399,070 new shares . Total of 3,388,560 new shares in Reach to be issued at price of 1.75 Norwegian crowns per share .Share capital will as a consequence increase by 3.4 million Norwegian crowns ($395,924) to 143.2 million crowns.  Full Article

Reach Subsea Q4 EBIT swings to loss of NOK 3.0 million
Thursday, 16 Feb 2017 01:25am EST 

Reach Subsea ASA : Q4 total operating income 66.1 million Norwegian crowns ($7.93 million) versus 135.6 million crowns year ago . Q4 EBITDA ex. items 10.5 million crowns versus 10.8 million crowns year ago .Q4 EBIT loss 3.0 million crowns versus profit 4.5 million crowns year ago.  Full Article

Reach Subsea: allocation of shares in Reach private placement
Tuesday, 7 Feb 2017 07:47am EST 

Reach Subsea ASA : Accello has been allocated 12,465,457 shares in reach in private placement approved by EGM in Reach . Accello will own 40,109,711 shares in reach after transaction, representing 28.7 pct of outstanding shares in Reach. . North Energy Capital has been allocated 1,820,243 shares in same private placement in Reach .North Energy Capital will own a total of 10,765,562 shares in Reach.  Full Article

Reach Subsea: MMT signs a project in spain within a JV with Reach Subsea
Friday, 3 Feb 2017 07:03am EST 

Reach Subsea ASA : MMT has entered into a contract with Medgaz in Spain for inspection of offshore pipeline between Algerie and Spain . Project will be performed within Joint Venture agreement between MMT and Reach Subsea utilizing vessel Edda Fonn .Pipeline transports gas from Algerie to Spain and crosses the Mediterranean at a maximum depth of 2.155 metres of water.  Full Article

Reach Subsea: contract for Edda Fonn
Wednesday, 1 Feb 2017 05:46am EST 

Reach Subsea ASA : Contract for Edda Fonn . Has entered into ROV/survey contract covering next 40 days for Edda Fonn .Says details in contract are confidential.  Full Article

Reach Subsea: contemplated private placement for gross proceeds of about NOK 75 mln
Thursday, 12 Jan 2017 10:43am EST 

Reach Subsea ASA : Says has mandated Arctic Securities AS and Clarksons Platou Securities AS as joint lead Managers and Bookrunners to assist the Company in a contemplated private placement for issue of 42,858,000 new shares for gross proceeds of about 75 million Norwegian crowns ($587,771.99) . Offer price has been set to 1.75 crowns . Net proceeds from private placement will be used for acquisition of ROV spreads and general corporate purposes .Preliminary figures for 2016 indicate a full-year revenue of 320 million crowns and EBITDA of around 20 million crowns (with Q4 16 EBITDA in excess of 5 million crowns).  Full Article

North Energy Capital ups stake in Reach Subsea to 9.8 pct
Friday, 23 Sep 2016 09:29am EDT 

Reach Subsea ASA : North Energy Capital bought on Sept. 23 total of 4.6 million shares in Reach Subsea .After transaction North Energy Capital owns 8.9 mln shares in Reach Subsea, corresponding to 9.80 pct of company's share capital.  Full Article

West Supply II Operation sells its entire stake in Reach Subsea
Friday, 23 Sep 2016 09:21am EDT 

Reach Subsea ASA : West Supply II Operation AS sold on Sept. 23 total of 5 million shares in Reach Subsea, correspodning to 5.48 percent of share capital .After transaction West Supply II Operation does not own any shares in Reach Subsea.  Full Article

Reach Subsea Q2 EBITDA down at 12.6 million crowns
Tuesday, 30 Aug 2016 01:30am EDT 

Reach Subsea ASA : Q2 total operating income 89.5 million Norwegian crowns ($10.80 million) versus 219.4 million crowns year ago .Q2 EBITDA 12.6 million crowns versus 18.7 million crowns year ago.  Full Article

Reach Subsea enters into contracts with different international clients
Thursday, 11 Aug 2016 05:14am EDT 

Reach Subsea ASA :Reach Subsea have entered into short/medium term contracts with different international clients for Normand Reach and Edda Fonn securing high utilisation of equipment and personnel in Q3.  Full Article

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