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Sevan Drilling ASA Announces Details of Subsequent Offering


Wednesday, 13 Feb 2013 02:02am EST 

Sevan Drilling ASA announced, with reference to the previous announcements regarding a private placement of 250,000,000 new shares in the Company and subsequent offering of up to 37,500,000 additional shares, that the Financial Supervisory Authority of Norway has approved a prospectus for listing of new shares on Oslo Bors and offering and listing of the offer shares on Oslo Bors. The subscription period for the subsequent offering commences February 14, 2013 and expires on February 28, 2013. The subscription price per offer share is NOK 3.95, equal to the subscription price in private placement. The subsequent offering will be directed towards existing shareholders of the Company holding less than 300,000 shares in the Company as of January 14, 2013, as registered in the Norwegian Central Securities Depository on January 17, 2013 (record date), who were not allocated new shares in private placement. Each eligible shareholder will be granted 0.748 non-tradable subscription rights for each share registered as held by such eligible shareholder as of record date rounded down to the nearest whole subscription right. Each subscription right will, subject to applicable securities laws, give the right to subscribe for, and be allocated, one offer share. Pareto Securities AS and Swedbank First Securities are acting as joint lead managers and joint bookrunners, and Carnegie AS is acting as co-manager for the private placement and subsequent offering. 

Company Quote

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