Oil / Gas Drilling
Sevan Drilling ASA Provides Further Details on Private Placement
Sevan Drilling ASA announced that the Extraordinary General Meeting approved all proposals made by the Company's Board of Directors as set out in the notice issued on January 16, 2013, including the issue of shares in the private placement announced on January 14, 2013 and the authorization of the Board of Directors to issue shares in the subsequent offering following the private placement. With reference to previous announcements, the Company expects that final amendment agreements, documenting revised financing terms, will be executed on or about February 7, 2012, following which the conditions for completion of the USD 175 million private placement will have been fulfilled. It is expected that the private placement shares will be issued on February 13, 2013, following the approval and publication of the prospectus. The subsequent offering is expected to start on or about February 14, 2013.
American Energy Group Ltd Announces Sale of Common Shares
American Energy Group Ltd announced that it has sold 700,000 Common Shares to a private investor for a cash consideration of $0.15 per share or a total consideration of $105,000 to the Company. The proceeds of the sale will be used for general and administrative operating capital and legal expenses.
Sevan Drilling ASA Updates on Private Placement
Sevan Drilling ASA announced, with reference to the announcements dated January 14, 2013 and January 15, 2013 regarding the conducted private placement of NOK 987.5 million, the primary insiders of the Company that have been allocated shares in the primary insider tranche in connection with the private placement, at a price per share of NOK 3.95. The Company's Chief Executive Officer, Scott Kerr, has been allocated 253,200 shares, and will after delivery of such hold 873,300 shares. The Company's Chief Financial Officer, Jon Wilmann, has been allocated 185,600 shares, and will after delivery of such hold 311,988 shares. Board Member Kitty Hall has been allocated 32,900 shares, and will after delivery of such hold 62,900 shares. The Company's Vice President QHSE, Pascal Busch, has been allocated 14,000 shares, and will after delivery of such hold 14,000 shares in the Company. The Company's Vice President HR, Eileen Aspehaug, has been allocated 12,700 shares, and will after delivery of such hold 12,700 shares. The Company's primary insiders will not be allowed to participate in the subsequent offering following the private placement.
Sevan Drilling ASA Updates on Private Placement
Sevan Drilling ASA announced that with reference to the announcement made by the Company earlier regarding a contemplated private placement of USD 175 million through an issue of new shares in the Company directed towards Norwegian and international investors (Private Placement), the Company has raised NOK 987.5 million in gross proceeds through a private placement of 250,000,000 shares, each with a par value of NOK 1 at a price of NOK 3.95 per share. The Private Placement took place as an accelerated bookbuilding process and was managed by Pareto Securities AS and Swedbank First Securities (collectively referred to as the Joint Bookrunners) as joint lead managers and joint bookrunners and Carnegie as co-manager. Rothschild is acting as financial adviser to the Company. The Private Placement was oversubscribed at the subscription price and was supported by existing shareholders, as well as new institutional investors. The net proceeds to the Company from the Private Placement will be used as follows: USD 40 million in payment of deferred liabilities and CAPEX, USD 35 million in pre-payment of bank debt and, and for general corporate purposes. The completion of the Private Placement remains conditional upon the following: approval of the Private Placement and the Subsequent Offering by an Extraordinary General Meeting of the Company to be held on or about February 6, 2013 and payment being received for the shares to be issued in the Private Placement, among others.
Sevan Drilling ASA Announces Amendment to Bank Agreements and Contemplates Private Placement
Sevan Drilling ASA announced amendments to existing loan agreements with lending banks and proposed a private placement of NOK 987 million (equivalent to USD 175 million) through an issue of new shares directed towards Norwegian and international investors. The Company retained Pareto Securities AS and Swedbank First Securities as joint lead managers and joint bookrunners and Carnegie as co-manager for the Private Placement. Rothschild is acting as financial adviser. The Company has been granted extended waivers from its lenders until the end of February 2013. The facilities have been amended in order to make them more self-sufficient and thus limit parent company funding of any shortfall going forward. The gross proceeds from the Placement are expected to amount to NOK 987 million. The price will be determined through an accelerated bookbuilding process. The minimum order and allocation has been set to the number of shares that equals an aggregate purchase price of at least NOK equivalent of EUR 100,000. The net proceeds to the Company from the Placement will be used as follows: USD 40 million in payment of deferred liabilities and CAPEX, USD 35 million in pre-payment of bank debt, and for general corporate purposes. The Company has directed a separate tranche towards the primary insiders. The bookbuilding period commences on January 14, 2013 and may close at any time on short notice. Subject to successful Private Placement, the Board intends to propose subsequent offering.
American Energy Group Ltd Announces Sale Of Common Shares
American Energy Group Ltd announced that it has sold 566,667 Common Shares to two private investors for a cash consideration of $0.15 per share or a total consideration of $85,000 to the Company. The proceeds of the sale will be used for general and administrative operating capital and legal expenses.
Prospector Offshore Drilling SA Completes Share Capital Increase
Prospector Offshore Drilling SA announced the completion of the share capital increase. Following approval by the board, the share capital increase of 2,202,958 shares, and the notarial acknowledgment of the share capital increase have now been received. The share capital increase has been fully paid up, and the shares pursuant to the share capital increase have been validly and legally issued. Following the share capital increase the Company's share capital is 94,497,958 shares, each with a nominal value of USD 0.01.
Scomi Group Berhad Converts Irredeemable Convertible Secured Loan Stocks Into New Ordinary Shares
Scomi Group Berhad announced that it has issued 180,723,876 new ordinary shares of MYR 0.10 each at an issue price of MYR 0.40 per share. The shares were issued as a result of the conversion of 722,895,721 Irredeemable Convertible Secured Loan Stocks (ICSLS) and will be granted listing on December 24, 2012.
Scomi Group Berhad Exercises Warrants Into New Ordinary Shares
Scomi Group Berhad announced the issuance of 19,986,867 new ordinary shares at MYR 0.100 each for an issue price of MYR 0.400 per share pursuant to the exercise of warrants. The new shares will be listed on December 20, 2012.
Prospector Offshore Drilling SA Announces Completion of Subsequent Offering
Prospector Offshore Drilling SA announced, with reference to the announcements from November 21, 2012 and December 11, 2012 regarding approval of a prospectus in relation to the listing of shares pursuant to the private placement of 36,000,000 shares in the Company and the subsequent offering of 2,800,000 shares in the Company to eligible shareholders, that the withdrawal period following the publication of the prospectus supplement dated December 10, 2012 expired at 16:30 (CET) on December 12, 2012, and following such expiry the Company has received subscriptions with subscription rights for 2,202,598 shares at the purchase price of NOK 9.50 per share. As a result of the offering, the Company will receive proceeds of approximately USD 3.6 million, net of fees. Consequently, and following final Board approval at a Board meeting of the Company to take place, 2,202,598 shares in the Company will be issued to the subscribers of shares in the subsequent offering. Following the subsequent offering, the total number of issued shares in the Company will be 94,497,598, each with a nominal value of USD 0.01.
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