Reference is made to the announcement by Prosafe SE
("Prosafe" or the "Company") on 10 November 2016
concerning the letter of intent with Axis Offshore
Pte. Ltd.
for the potential acquisition of all outstanding
shares in the two single purpose companies Axis Nova
Singapore Pte. Ltd. and Axis Vega Singapore Pte. Ltd.,
and 25% of the shares in Dan Swift (Singapore) Pte.
Ltd (the "Transaction").
The agreed consideration for the Transaction of USD
70 million (NOK 579.2 million) will be settled by
Prosafe in kind, through the issuance of 5,868,900
ordinary shares priced at NOK 30 per share and hence
result in a dilution of shareholder share by existing
shareholders.
Following the issuance of 5,868,900 ordinary shares
resulting in a total issued number of 71,399,002
ordinary shares, funds managed by DNB Asset Management
now holds 4,67% of the outstanding shares, equaling 3
332 561 ordinary shares.