NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES OR ANYOTHER 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.
Mandatory notification of trade
Lysaker, 11 October 2019
Reference is made to the stock exchange announcement from Axxis Geo Solutions ASA ("Axxis" or the "Company") published on 10 October 2019 regarding a successfully placed private placement of 37.5 million shares raising gross proceeds of NOK 225 million (the “Private Placement”).
The following primary insiders of the Company have been allocated shares in the Private Placement:
Havila Holding AS, represented on the Board of Directors of the Company through Njål Sævik, was allocated 12,393,393 shares in the Private placement. Following the Private Placement, Havila Holding AS will hold 15,549,434 shares in Axxis (26.44% of total outstanding shares in the Company).
Songa Investments AS, represented on the Board of Directors of the Company through Fredrik Platou, was allocated 3,000,000 shares in the Private placement. Following the Private Placement, Songa Investments AS will hold 6,399,283 shares in Axxis (10.88% of total outstanding shares in the Company).
Rome AS represented on the Board of Directors of the Company through Jogeir Romestrand, were allocated 1,250,000 shares in the Private placement. Following the Private Placement Rome AS will hold 3,699,257 shares in Axxis (6.29% of total outstanding shares in the Company).
Rolf Rønningen, Chairman of the Board of Directors, was allocated 17,000 shares in the Private placement. Following the Private Placement, Rolf Rønningen will hold 17,000 shares in Axxis (0.03% of total outstanding shares in the Company).
Svein Knudssen, Chief Financial Officer, through his wholly owned company Copenhagen AS, was allocated 17,000 shares in the Private placement. Following the Private Placement Svein Knudssen will hold 17,000 shares in Axxis (0.03% of total outstanding shares in the Company).
Kristian Zahl, Vice President Sales, through his wholly owned company Nessekongen AS, was allocated 16,666 shares in the Private placement. Following the Private Placement Kristian Zahl will hold 16,666 shares in Axxis (0.03% of total outstanding shares in the Company).
This information is published in accordance with the requirements of the Continuing Obligations. This information is subject of the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.
For further information:
Lee Parker, CEO
Lee.Parker@axxisgeo.com
Svein Knudsen, CFO
Svein.Knudsen@axxisgeo.com
+47 906 94 170
About AGS
Axxis Geo Solutions (AGS) is a pure-play ocean bottom node seismic company uniquely positioned to pursue both contract and multi-client seismic. AGS specializes on delivering tailored seismic solutions and flexible project management and execution to oil and gas companies world-wide. Its operations are based on a scalable asset-light setup through chartering of vessels and nodes to complete seismic surveys.
AGS is listed on Oslo Axess and traded under the ticker AGS.
More information on www.axxisgeo.com
Important information:
The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia). This release is an announcement issued pursuant to legal information obligations, and is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "US Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the US Securities Act. The Company does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this announcement are not being made and may not be distributed or sent into Australia, Canada, Japan or the United States. The issue, subscription or purchase of shares in the Company is subject to specific legal or regulatory restrictions in certain jurisdictions. The Company does not assume any responsibility in the event there is a violation by any person of such restrictions. The distribution of this release may in certain jurisdictions be restricted by law. Persons into whose possession this release comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.
Forward-looking statements: This release and any materials distributed in connection with this release may contain certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect the Company's current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.