NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN, SWITZERLAND, HONG KONG OR THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.
The subscription period in the Subsequent Offering commences on 5 December 2017 at 09:00 CET and will end on 19 December 2017 at 16:30 CET (the "Subscription Period"). The subscription price in the Subsequent Offering is NOK 0.10 per Offer Share, which is the equal to the subscription price in the Private Placement.
Eligible Shareholders will be granted 1.51 Subscription Rights for each share held. Each Subscription Right will give the right to subscribe for one (1) Offer Share. The Subscription Rights will not be tradable or listed on the Oslo Stock Exchange. Oversubscription is permitted.
In order to subscribe for shares, one of the Managers must receive a complete and duly signed subscription form within the end of the Subscription Period. Further instructions regarding the subscription procedure is available in the Prospectus. Subscription Rights not used to subscribe for Offer Shares prior to 16:30 CET on 19 December 2017 will lapse without compensations to the holder and consequently be of no value.
Notifications of allocation in the Subsequent Offering are expected to be issued on or about 20 December 2017. The due date for payment of allocated Offer Shares is 27 December 2017 (the "Payment Due Date"). Delivery of the Offer Shares to investors' VPS accounts is expected to take place on or about 29 December 2017.
ABG Sundal Collier and Arctic Securities acted as joint bookrunners in the Private Placement and the Subsequent Offering. Advokatfirmaet Schjødt AS acted as Norwegian legal counsel to the Company.
For additional information, please contact:
CEO SeaBird Exploration
Phone: +47 22402705
CFO SeaBird Exploration
Phone: +47 22402717