SeaBird Exploration Plc: Listing of warrants
(Thomson Reuters ONE) -
18 May 2015, Limassol, Cyprus
Reference is made to the previous press releases regarding the restructuring
(the "Restructuring") of SeaBird Exploration Plc (the "Company").
The Company announces that 884,687,500 warrants issued to subscribers for shares
in the Restructuring, each convertible into one ordinary share of the Company,
is expected to be distributed to the VPS accounts of the entitled warrant
holders today. The warrants will be listed on Oslo Børs with ticker SBX J from
tomorrow, 19 May 2015. The warrants expire on 15 January 2018, with last day of
listing 10 January 2018. Each warrant can be used to subscribe, within their
expiration, for one share of the Company at an exercise price of NOK 0.10. The
value of the warrants lies in the positive difference, if any, between the
market price of the share price of the shares and the exercise price of the
warrants, or in such expected future difference. The warrants have no value if
exercised at a time when the market price of the shares are lower than the
exercise price of the warrants, as shares could then be acquired at a lower
price in the market. If not exercised until their expiration, the warrants will
lapse with no value. Pursuant to the terms of the warrants, the Company shall
issue the relevant shares within three months of receipt of applicable exercise
notice. The warrants are described in section 5.3 of the Company's prospectus of
30 April 2015, available on www.sbexp.com.
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
For further queries contact:
Dag Reynolds
CEO SeaBird Exploration
Phone: +47 90883737
Nils Haugestad
CFO SeaBird Exploration
Phone: +47 22402717
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#1922017]
Unternehmensinformation / Kurzprofil:
Datum: 18.05.2015 - 13:12 Uhr
Sprache: Deutsch
News-ID 393989
Anzahl Zeichen: 2488
contact information:
Town:
Oslo
Kategorie:
Business News
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