Reach Subsea ASA - Final results of the Subsequent Offering
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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