Reach Subsea ASA – Final results of the Subsequent Offering
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA, SOUTH AFRICA, NEW ZEALAND, JAPAN, THE UNITED STATES, THE UNITED KINGDOM OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
Haugesund, 28 March 2023: Reference is made to the stock exchange announcement published by Reach Subsea ASA ("Reach" or the "Company") (Oslo Børs: REACH) on 12 March 2023 regarding the commencement of a subsequent offering (the "Subsequent Offering") and registration of a national prospectus dated 10 March 2023 (the "Prospectus").
The subscription period expired on 27 March 2023 at 16:30 (CET). By the end of the subscription period, the Company had received valid subscriptions for 312,635 Offer Shares in the Subsequent Offering. The Company's board of directors has today resolved that a total of 312,635 Offer Shares will be allocated based on subscription rights in accordance with the allocation criteria set out in the Prospectus.
The Company will raise NOK 1,328,698.75 in gross proceeds through the Subsequent Offering.
Notifications of allocated Offer Shares in the Subsequent Offering and the corresponding amount to be paid by each subscriber will be available via each subscriber's VPS account on or about 28 March 2023. The due date for payment of the Offer Shares is on 30 March 2023.
Subject to duly payment of the Offer Shares by the subscribers, the share capital increase relating to the Subsequent Offering is expected to be registered with the Norwegian Register of Business Enterprises on or about 4 April 2023 and the Offer Shares will be delivered to the VPS accounts of the subscribers to whom they are allocated on or about 5 April 2023.
This information is subject to a duty of disclosure pursuant to the Company's continuing obligations as a company listed on Oslo Børs.
For more information please contact:
Birgitte Wendelbo Johansen
Chief Financial Officer Reach Subsea ASA
bwj@reachsubsea.no
About Reach Subsea:
Reach Subsea ASA Group offers subsea services as a subcontractor and/or directly to end clients, based out of our head office in Haugesund. The core business of the Group is based on modern, high spec Work ROVs operated by highly-qualified offshore personnel, and supported by onshore engineering resources. The Group’s objective is to be a preferred subsea partner and full-service provider of subsea operations for clients, focusing on safety, environment, financial solidity and profitability. www.reachsubsea.no