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Reach Subsea ASA Updates on Unconditional Mandatory Offer Made by Accello Partners I AS


Monday, 7 Jan 2013 11:11am EST 

Reach Subsea ASA announced that with reference to the unconditional mandatory offer made by Accello Partners I AS (Accello) to acquire all the issued and outstanding shares in Reach Subsea ASA (Reach) not already owned by Accello at an offer price of NOK 1.60 per Reach share, which was announced on December 7, 2012 (Mandatory Offer), on January 7, 2013, at 16:30 hours Central European Time (CET), the offer period in the Mandatory Offer expired. During the offer period, Accello has received acceptances under the Mandatory Offer representing 6,754 shares in Reach. Consequently, as of January 7, 2013, Accello owns 15,625,000 Reach shares and has the right and obligation to acquire a total of 6,754 Reach shares upon consummation of the Mandatory Offer. Based on this, Accello will own 15,631,754 Reach shares following completion of the Mandatory Offer, corresponding to 35.67% of the shares and votes in Reach. Accello is represented in the Board of Directors of Reach by Mr. Anders Onarheim. 

Company Quote

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18 Dec 2014