24 August 2018, Limassol, Cyprus
Reference is made to the announcement of 22 August 2018 concerning a consolidation of shares in SeaBird Exploration PLC ("SeaBird" or the "Company") in a ratio of 10:1, as approved by the shareholders of the Company on 10 August 2018 (the "AGM").
Pursuant to the authority of the Board of Directors of SeaBird to acquire shares granted by the AGM, the Company has purchased 15,000 VPS shares of SeaBird. The transaction was executed at a price of NOK 0.21 per share. Subsequent to the transaction, the aggregate number of own VPS shares held by SeaBird is 15,000. Further, the Company has issued a limited number of new shares to local registered nominee shareholders to ensure that the minimum requirement for locally registered shareholders of the Company in Cyprus is maintained after the consolidation, and to DnB to make the total number of VPS shares in issue prior to the consolidation divisible by ten. Following this share issue, the total number of unconsolidated VPS shares is 2,833,205,150, each at par value USD 0.001.
The last day of trading of unconsolidated shares is expected to be 27 August 2018. The first day of trading of consolidated shares is expected to be 28 August 2018.
As follows from the Company's announcement of 22 August 2018, as a result of the consolidation, the previously announced forthcoming subsequent offering of up to 100,000,000 new shares of USD 0.001 par value, will consist of up to 10,000,000 new shares at USD 0.01 par value.
About SeaBird: 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.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
For further queries, please contact:
Hans Petter Klohs
Phone: +47 22402718
Phone: +47 22402717