SeaBird Exploration Plc: Bondholders' meeting held, amendments approved
(Thomson Reuters ONE) -
18 February 2015, Limassol, Cyprus
Reference is made to the press release dated 29 January 2015 regarding the
restructuring (the "Restructuring") of SeaBird Exploration Plc (the "Company"),
which includes the conversion of the outstanding amounts under the SeaBird
Exploration Plc Senior Secured Callable Bond Issue 2011/2015 ("SBX03") into a
combination of (i) a new secured bond ("SBX04") and (ii) equity, as further
described in said press release. Reference is also made to press release dated
11 February 2015, regarding the calling of a bondholders meeting in SBX03 for
the approval of the Restructuring by the SBX03 bondholders.
The bondholders of SBX03 have today, with requisite majority, resolved to
approve the Restructuring. Implementation of the Restructuring remains subject
to conditions, including approval by the shareholders meeting scheduled for 19
February 2015 and final documentation required to implement the Restructuring,
including final documentation on revised terms with trade creditors. There are
no guarantees that all conditions for the Restructuring will be fulfilled in a
timely manner.
SeaBird is a global provider of marine acquisition for 2D/3D and 4D seismic
data, and associated products and services to the oil and gas industry. SeaBird
specializes in high quality operations within the high end of the source vessel
and 2D market, as well as in the shallow/deep water 2D/3D and 4D market. Main
focus for the Company is proprietary seismic surveys (contract seismic). Main
success criteria for the Company are an unrelenting focus on Health, Safety,
Security, Environment and Quality (HSSEQ), combined with efficient collection of
high quality seismic data. All statements in this press release other than
statements of historical fact are forward-looking statements and are subject to
a number of risks, uncertainties and assumptions that are difficult to predict,
and are based upon assumptions as to future events that may not prove accurate.
These factors include SeaBird`s reliance on a cyclical industry and the
utilization of the Company's vessels. Actual results may differ substantially
from those expected or projected in the forward-looking statements.
This announcement is made with reference to the Norwegian Trading Act section
5-12.
For further queries contact:
Dag Reynolds
CEO SeaBird Exploration
Phone: +47 90883737
Nils Haugestad
CFO SeaBird Exploration
Phone: +971 4 427 1700
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire 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: SeaBird Exploration Plc via GlobeNewswire
[HUG#1895472]
Unternehmensinformation / Kurzprofil:
Datum: 18.02.2015 - 15:09 Uhr
Sprache: Deutsch
News-ID 372453
Anzahl Zeichen: 3267
contact information:
Town:
Oslo
Kategorie:
Business News
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"SeaBird Exploration Plc: Bondholders' meeting held, amendments approved"
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