Solstad Farstad ASA
Solstad Farstad ASA
05/09/2022 | Press release | Distributed by Public on 05/09/2022 12:22
Exercise of warrants, conversion of convertible loan
Tid09.05.2022, 18:12:53
MeldingsID561604
UtstederIDSOFF
MarkedOslo Børs
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Exercise of warrants, conversion of convertible loan
Reference is made to the stock exchange notice by Solstad Offshore ASA (the
"Company") dated 7 April 2022 regarding the sale of the vessels "Far Santana",
"Normand Ivan", "Normand Trym", "Normand Vibran", "Rem Supplier" and "Sea
Trout"(the "Vessels"). Further reference is made to the warrants issued to
certain banks by decision of the Company's general meeting held on 20 October
2020 giving such banks (as well as other banks) the right to receive new shares
in the Company as compensation for any part of their claim against SOFF related
to certain vessels (including the Vessels) not covered by the proceeds from the
sale of such vessels (the "Warrants"). Reference is also made to the Company's
stock exchange notice of 20 October 2020 regarding the issuance of a convertible
loan to Aker Capital AS and Jarsteinen AS as an anti-dilution measure following
completion of i.a. the exercise of warrants as set out above.
Following completion of the sale of the Vessels, 399,788 new shares have been
issued today as a result of exercise of Warrants, while 135,002 new shares have
been issued following partial conversion of the convertible loan, in total
534,790 new shares.
As a result, the Company's share capital is now NOK 77,308,609 consisting of
77,308,609, each with a par value of NOK 1.
Skudeneshavn, May 9th 2022
Contacts
Lars Peder Solstad CEO, at +47 91 31 85 85
Kjetil Ramstad CFO, at +47 90 75 94 89
Solstad Offshore ASA
www.solstad.com
This information is subject of the disclosure requirements pursuant to section
4.2.4 of Rule Book II for companies listed on Euronext Oslo Børs.
"Company") dated 7 April 2022 regarding the sale of the vessels "Far Santana",
"Normand Ivan", "Normand Trym", "Normand Vibran", "Rem Supplier" and "Sea
Trout"(the "Vessels"). Further reference is made to the warrants issued to
certain banks by decision of the Company's general meeting held on 20 October
2020 giving such banks (as well as other banks) the right to receive new shares
in the Company as compensation for any part of their claim against SOFF related
to certain vessels (including the Vessels) not covered by the proceeds from the
sale of such vessels (the "Warrants"). Reference is also made to the Company's
stock exchange notice of 20 October 2020 regarding the issuance of a convertible
loan to Aker Capital AS and Jarsteinen AS as an anti-dilution measure following
completion of i.a. the exercise of warrants as set out above.
Following completion of the sale of the Vessels, 399,788 new shares have been
issued today as a result of exercise of Warrants, while 135,002 new shares have
been issued following partial conversion of the convertible loan, in total
534,790 new shares.
As a result, the Company's share capital is now NOK 77,308,609 consisting of
77,308,609, each with a par value of NOK 1.
Skudeneshavn, May 9th 2022
Contacts
Lars Peder Solstad CEO, at +47 91 31 85 85
Kjetil Ramstad CFO, at +47 90 75 94 89
Solstad Offshore ASA
www.solstad.com
This information is subject of the disclosure requirements pursuant to section
4.2.4 of Rule Book II for companies listed on Euronext Oslo Børs.