Avance Gas Holding Ltd.

10/20/2021 | Press release | Distributed by Public on 10/20/2021 00:27

Avance Gas Holding Ltd – Updated and final results of mandatory offer to acquire all shares in Avance Gas Holding Ltd

THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. Reference is made to announcement made by Hemen Holding Limited ("Hemen") on 13 October 2021 regarding the results of the mandatory offer to acquire all outstanding shares in Avance Gas Holding Ltd (the "Company"). Based on final counting, acceptances of in total 27,080,838 shares were received by Hemen under the mandatory offer, corresponding to approximately 34.98% of the registered share capital and voting rights in the Company. Following settlement, Hemen will own 59,382,696 shares in the Company, representing approximately 76.70% of the registered share capital and voting rights in the Company. In addition, Frontline Ltd, a company in which Hemen holds approximately 40.0% of the shares, owns a total of 442,384 shares in the Company, resulting in Hemen and Frontline having an aggregate holding of 59,825,080 shares equalling approximately 77.27% of the share capital and voting rights in in the Company. Settlement of the mandatory offer will take place on or about 22 October 2021. This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.