Reach Subsea ASA: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
Provider: Wright Reports
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Transit Invest ASA Updates on Combination with Reach Subsea AS and Announces Registration of Share Capital Increase; Changes Name to Reach Subsea ASA
Transit Invest ASA announced, with reference to the completed combination with Reach Subsea AS and private placement with gross proceeds of NOK 42 million, that certain changes in connection with the combination and private placement have been registered with Norwegian Register of Business Enterprises on December 5, 2012. The changes include: change of the Company's name to Reach Subsea ASA; the new Board of Directors in the Company consisting of: Rune Lande (Chairman), Sverre B. Mikkelsen, Martha Kold Bakkevig, Anders Onarheim and Merete Haugli; the appointment of Kare Johannes Lie as new Chief Executive Officer of the Company; the relocation of the Company's registered office to Skillebekkgata 1 B, N-5523 Haugesund, Norway; the change of the Company's objective to also comprise business related to the offshore energy industry; the share capital increases required to (i) issue one new share in order to consolidate the Company's shares in the ratio 20:1, (ii) issue the 13,183,578 consideration shares in relation to the Combination and (iii) issue the 26,250,000 new shares in relation to the private placement. The share consolidation will be effective with respect to trading in the Company's shares as of December 6, 2012 as the per date (ex consolidation). Following the registration of the share consolidation and the share capital increases mentioned above, the Company's new share capital is NOK 43,828,104, divided into 43,828,104 shares with a nominal value of NOK 1 each.
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