Notice regarding Voluntary Exchange Offer
(Thomson Reuters ONE) -
NOT FOR PUBLIC DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED
STATES OF AMERICA, CANADA, AUSTRALIA OR JAPAN
14 July 2010 - Reference is made to the stock exchange notices from BW Offshore
Limited ("BW Offshore" or "BWO") of 21 June 2010 and 30 June 2010 regarding the
intention to make a voluntary exchange offer (the "Offer") for all of the issued
and outstanding shares of Prosafe Production Public Limited ("Prosafe
Production") not currently owned by BW Offshore.
BWO has resolved to proceed with the Offer, and the detailed terms and
conditions of the Offer will be contained in an offer document (the "Offer
Document"). The consideration in the Offer will be 1.2 BWO shares and NOK 2.00
in cash per Prosafe Production share. As further detailed in the Offer Document,
the cash consideration of the Offer will be NOK 5.25 per Prosafe Production
share in the event the sale of Prosafe Production's Turret Business is completed
on conditions as announced by Prosafe Production in its stock exchange notice of
22 March 2010 no later than two Norwegian business days prior to expiry of the
acceptance period for the Offer. The Offer will in other respects contain the
conditions as set forth in the stock exchange notice from BW Offshore of 21 June
2010.
BW Offshore expects to issue the Offer Document by the end of the week starting
19 July 2010.
For further information, please contact:
Carl K. Arnet, CEO, +65 9630 3290
Knut R. Sæthre, CFO, +47 9111 7876
About BW Offshore
BW Offshore is one of the world's leading FPSO contractors and a market leader
within advanced offshore loading and production systems to the oil and gas
industry. BW Offshore has more than 25 years' experience and has successfully
delivered 14 FPSO projects and 50 turrets and offshore terminals. BW Offshore's
technology division APL has delivered solutions for production vessels, storage
vessels and tankers in a wide range of field developments. Adapting through
competence, in-house technology, solid project execution and operational
excellence, BW Offshore ensures that customer needs are met through versatile
solutions for offshore oil and gas projects. BW Offshore has a global network
with offices in Europe, Asia Pacific, West Africa and the Americas. BW Offshore
has 1,100 employees and is listed on the Oslo Stock Exchange. For more
information, please visit www.bwoffshore.com and www.apl.no.
This information is subject to the disclosure requirements according to Section
5-12 of the Norwegian Securities Trading Act.
This announcement is not an offer for sale of any securities in the United
States. Securities may not be offered or sold in the United States absent
registration or an exemption from registration under the U.S. Securities Act. BW
Offshore has not registered and does not intend to register any portion of any
offering of shares in the United States or to conduct a public offering of any
securities in the United States.
[HUG#1431588]
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: BW Offshore via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 14.07.2010 - 13:11 Uhr
Sprache: Deutsch
News-ID 23894
Anzahl Zeichen: 0
contact information:
Town:
Oslo
Kategorie:
Business News
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"Notice regarding Voluntary Exchange Offer"
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