- 14th March 2019
- Posted by: Awilco Drilling
- Category: 2019
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES OR ANY OTHER 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.
14 March 2019
Reference is made to the stock exchange release by Awilco Drilling Plc (the “Company”) on 11 March 2019 regarding the successfully completed private placement of 5,550,000 new shares (the “Private Placement”). The Board of Directors of the Company has approved the share capital increase relating to the issuance of the new shares in the Private Placement and the new shares have been issued today. The new shares will not be admitted to trading on Oslo Børs until a listing prospectus has been published in respect of the new shares.
The Company’s new share capital is GBP 354,779.75 divided into 54,581,500 shares, each with a nominal value of GBP 0.0065.
ABG Sundal Collier ASA, Fearnley Securities AS and Clarksons Platou Securities AS have acted as managers for the Private Placement (the “Managers”).
In connection with the settlement of the Private Placement, the Company and the Managers entered into a share lending agreement with Awilhelmsen Offshore AS in order to facilitate delivery of the shares on a delivery versus payment basis. As a result, the delivery of shares under the Private Placement (except for 2,320,876 shares allocated to Awilhelmsen Offshore AS) has been settled with existing and unencumbered shares in the Company that are already listed on Oslo Børs. The shares delivered to the subscribers were therefore tradable on Oslo Børs upon allocation.
The share loan has been settled by way of the new shares being issued to Awilhelmsen Offshore AS. Since these shares are not yet admitted to trading on Oslo Børs, they will be held on a separate VPS account blocked in favour of the Managers until a listing prospectus for the shares has been approved by the Financial Supervisory Authority of Norway, expected in May 2019.
For further information, please contact:
Cathrine Haavind, IR Manager
Phone: +47 93 42 84 64
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.