Prosafe SE: Update on bondholders' Cash-out Option and Convertible Bond
(Thomson Reuters ONE) -
Reference is made to previous announcements concerning the proposed refinancing
(the "Refinancing") of Prosafe SE ("Prosafe" or the "Company"), including the
summons letter dated 27 July 2016 (the "Summons") calling for Bondholders'
Meeting in the Company's bond loans PRS08, PRS09, PRS10 and PRS11 to be held on
12 August 2016 at 1:00 pm CEST.
The periods for (i) exercise of the bondholders' Cash-out Option and (ii)
requesting Convertible Bond conversion under the Refinancing, as described in
the Summons, have now expired. In total, the Cash-out Option has been exercised
for NOK 242 million. As the Cash-out Option has been exercised for less than the
minimum cash-out amount of NOK 336 million, the clearing price has per the terms
of the proposed Refinancing been set to 35% of current face value of the bonds
and the difference between NOK 84.7 million (35% of NOK 242 million) and the
minimum cash-out amount (NOK 336 million) will be applied for a pro-rata
redemption across remaining bonds.
Based upon received requests from bondholders, the convertible bond will be NOK
82.79 million convertible into 331,163,764 new shares in Prosafe. Adjusted for
the cash-out amount and the convertible bond, remaining bonds will be converted
to 1,396,836,250 new shares in Prosafe through a debt to equity conversion.
As a result of the minimum cash-out amount being exercised, the Company will
issue 4,368,000,000 new shares to investors that participated in the private
placement that was closed on 12 July 2016.
Completion of the cash-out, convertible bond, debt to equity conversion and
allocation of shares in the private placement remains subject to completion of
the Refinancing. For further details, please see the Company's notice of 7 July
2016 and the Summons.
Prosafe is the world's leading owner and operator of semi-submersible
accommodation vessels. The company operates globally and is headquartered in
Larnaca, Cyprus. Prosafe is listed on the Oslo Stock Exchange with ticker code
PRS. For more information, please refer to www.prosafe.com
Larnaca, 11 August 2016
Georgina Georgiou, General Manager
Prosafe SE
For further information, please contact:
Stig Harry Christiansen, Acting CEO
Prosafe Management AS
Phone: +47 51 64 25 17 / +47 478 07 813
Robin Laird, Acting CFO
Prosafe Offshore Services Pte Limited
Phone: +65 65 59 19 90 / +65 81 27 21 01
Cecilie Helland Ouff, Senior Manager Finance and Investor Relations
Prosafe AS
Phone: +47 51 64 25 20
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
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: Prosafe SE via GlobeNewswire
[HUG#2034559]
Unternehmensinformation / Kurzprofil:
Datum: 11.08.2016 - 08:29 Uhr
Sprache: Deutsch
News-ID 488521
Anzahl Zeichen: 3498
contact information:
Town:
Larnaca
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 180 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Prosafe SE: Update on bondholders' Cash-out Option and Convertible Bond"
steht unter der journalistisch-redaktionellen Verantwortung von
Prosafe SE (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
