Prosafe SE: Completed bondholders' meeting and update on refinancing
(Thomson Reuters ONE) -
Reference is made to previous announcements concerning the proposed refinancing
(the "Refinancing") of Prosafe SE ("Prosafe" or the "Company") as announced on
7 July 2016.
Bondholders' meetings in the Company's bond loans PRS08, PRS09, PRS10 and PRS11
were held today, 12 August 2016, at 1:00 pm CEST. As follows from the attached
notice, the Refinancing and the equitization of the bonds as proposed in the
summons letter dated 27 July 2016 (the "Summons") was supported by qualified
majorities in all four bond loans, and thus duly approved.
Completion of the Refinancing remains inter alia subject to final bank approval
and approval by shareholders at the extraordinary general meeting of the Company
to be held on 23 August 2016. For further details, please see the Company's
notice of 7 July 2016 and the Summons.
Subject to these conditions being fulfilled in a timely manner, the Company
expects to complete the Refinancing ultimo August 2016/primo September 2016,
including by delivery of the shares in the private placement closed on 12 July
2016 and issuance of shares and convertible bonds resulting from the debt
conversion. As reported on 10 August 2016, the Company will issue (i) a
convertible bond of NOK 82.79 million convertible into 331,163,764 new shares;
(ii) 1,396,836,250 new shares as consideration for the bond conversion and (iii)
4,376,600,000 (and not 4,368,000,000 as incorrectly reported yesterday) new
shares as part of the private placement.
With respect to the subsequent equity offering, this will be launched upon
publication of an offering and listing prospectus to be approved by relevant
authorities, currently expected ultimo September 2016. As previously announced,
shareholders that did not subscribe in the private placement as of close of
trade on 12 July 2016 (as recorded in the VPS on 14 July 2016), and that will,
inter alia, subject to applicable restrictions, receive non-transferable
subscription rights for a subsequent equity offering of up to USD 15 million.
The subscription price in the subsequent equity offering will be NOK 0.25.
Further information on timing, terms and how to participate, will be announced
in due course, and described in the prospectus to be prepared in connection
therewith. Pending completion of the publication of the prospectus for the
subsequent equity offering and completion of the capital reduction described in
the Refinancing terms, the shares to be issued as part of the private placement
and debt conversion will be unlisted Class A shares (OTC listing may be sought).
Prosafe is the world's leading owner and operator of semi-submersible
accommodation vessels. The company is headquartered in Larnaca, Cyprus and
listed on the Oslo Stock Exchange with ticker code PRS. For more information,
please refer to www.prosafe.com
Larnaca, 12 August 2016
Georgina Georgiou, General Manager
Prosafe SE
For further information, please contact:
Stig Harry Christiansen, Acting CEO
Prosafe Management AS
Phone: +47 478 07 813
Robin Laird, Acting CFO
Prosafe Offshore Services Pte Limited
Phone: +65 81 27 21 01
Cecilie Helland Ouff, Senior Manager Finance and Investor Relations
Prosafe AS
Phone: +47 51 64 25 20 / +47 991 09 467
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
Notice from bondholders meeting:
http://hugin.info/64729/R/2034936/757866.PDF
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#2034936]
Unternehmensinformation / Kurzprofil:
Datum: 12.08.2016 - 13:43 Uhr
Sprache: Deutsch
News-ID 488880
Anzahl Zeichen: 4420
contact information:
Town:
Larnaca
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 256 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Prosafe SE: Completed bondholders' meeting and update on refinancing"
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).
