NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, SWITZERLAND, CANADA, JAPAN, 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.
Oslo, 15 August 2018
Reference is made to the stock exchange announcement dated 1 August 2018 regarding the commencement of the subsequent offering of up to 156,250,000 new shares (the "Offer Shares") in SeaBird Exploration PLC ("SeaBird" or the "Company") at a subscription price of NOK 0.16 per share (the "Subsequent Offering").
The subscription period in the Subsequent Offering expired on 15 August at 12:00 CET. By the end of the subscription period, the Company had received valid subscriptions for approximately 214 million Offer Shares. Hence, 156,250,000 Offer Shares will be issued.
Notifications of allocated Offer Shares in the Subsequent Offering and the corresponding amount to be paid by each subscriber will be set out in a separate letter to each subscriber to whom Offer Shares have been allotted. The allocation letters are expected to be sent tomorrow.
The following allocation have been given to primary insiders in the Company:
Chairman of the Board, Heidar Engebret, has been allocated 2,800,000 shares. Following the transaction he owns 6,600,000 shares in the Company representing 0.23% of the issued share capital after completion of the Subsequent Offering.
The Offer Shares may not be transferred or traded before they are issued and registered in the Norwegian Central Securities Depository. The Company will send an announcement when the Offer Shares are issued. The Company expects that the Offer Shares will be issued on or about 20 August 2018, and be admitted to trading on or about 20 August 2018.
ABG Sundal Collier ASA and SpareBank 1 Markets AS are acting as Managers for the Subsequent Offering. Advokatfirmaet Schjødt AS acts as Norwegian legal counsel to the Company.
For further information, please contact:
Hans Petter Klohs
CEO SeaBird Exploration
Phone: +47 22 40 27 18
CFO SeaBird Exploration
Phone: +47 22 40 27 17
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
About Seabird Exploration:
SeaBird is a global provider of marine acquisition for 2D/3D and 4D seismic data, and associated products and services to the oil and gas industry. SeaBird specializes in high quality operations within the high end of the source vessel and 2D market, as well as in the shallow/deep water 2D/3D and 4D market. Main focus for the company is proprietary seismic surveys (contract seismic). Main success criteria for the company are an unrelenting focus on Quality, Health, Safety and Environment (QHSE), combined with efficient collection of high quality seismic data.