Transfer of Seaway7 shares and subscription rights by Turbin Capital AS
Reference is made to the announcement by Seaway 7 ASA (the "Company" or "Seaway7") today regarding commencement of a fully underwritten rights issue in the Company (the "Rights Issue"). Turbin Capital AS ("Turbin") holds 1,042,116 shares in the Company, corresponding to 0.24% of the share capital of the Company, and has been allocated 1,042,116 subscription rights in the Rights Issue. Turbin is a close associate of Rune Magnus Lundetræ who is the chairperson of the board of directors of Seaway7 and the chairperson of the board of directors of Turbin. Rune Magnus Lundetræ further indirectly controls 33.33% of the shares in Turbin.
As part of a decision by the shareholders to invest separately in the Company, and not through Turbin, Turbin has on 11 October 2022 transferred all of its 1,042,116 subscription rights and 1,042,116 shares in Seaway7, to its direct and indirect shareholders at a price of NOK 6.7 per share and NOK 1.87 per subscription right.
Lunde3 Holding AS, a company controlled by Rune Magnus Lundetræ, has through the above transaction acquired:
(i) 347,372 shares in the Company at a price of NOK 6.7 per share, corresponding to 0.08% of the issued and outstanding shares and votes in the Company, and
(ii) 347,372 subscription rights at a price of NOK 1.87 per subscription right
Subscription of shares by Lunde3 Holding AS
Lunde3 Holding AS has today exercised the 347,372 subscription rights it has acquired to subscribe for 347,372 new shares in the Rights Issue. Following issuance of the new shares, Rune Magnus Lundetræ will, through Lunde3 Holding AS, hold 694,744 shares in the Company corresponding to 0.08% of the Company's shares and votes following completion of the Rights Issue. In addition, Rune Magnus Lundetræ holds 407,574 warrants in the Company.
Please see the attached notifications for further information.
This information is subject to the disclosure requirements in articles 19 of the Regulation EU 596/2014 (the EU Market Abuse Regulation) and section 5-12 of the Norwegian Securities Trading Act.