Sonata AS, which has fully underwritten the rights issue, has subscribed for, and been allocated, 16,047,034 shares in the rights issue, of which 11,583,165 shares were subscribed for on the basis of granted subscription rights and 4,463,869 shares were subscribed for under the underwriting obligation. Following completion of the rights issue, Sonata AS’s ownership in Belships ASA will amount to 28,584,284 shares corresponding to 60.37% of all issued shares in Belships ASA.
Sonata AS is subject to the rules regarding mandatory bid obligation following subsequent acquisitions pursuant to section 6-6 (2) of the Norwegian Securities Trading Act as a result of previous transactions between consolidated companies which did not trigger the bid obligation.
The subscription and allocation of the new shares in Belships ASA by Sonata AS triggers an obligation to make a mandatory offer for all of the outstanding shares in Belships ASA pursuant to Section 6-1 cf Section 6-6 (2) of the Norwegian Securities Trading Act (the “Offer”). This notification does not constitute an offer. The Offer will only be made on the basis of the offer document and can only be accepted pursuant to the terms of such document.
Sonata AS will make the Offer within the time limit set out in the Norwegian Securities Trading Act. In the context of the Offer, the price of NOK 4 is the highest price paid or agreed to be paid per share in Belships ASA by Sonata AS during the last 6 months.
The Offer will not be made in any jurisdiction in which the making of such offer would not be in compliance with the laws of such jurisdiction.
Sverre J. Tidemand, being the CEO and chairman of the board of directors of Sonata AS, serves as chairman of the board of directors of Belships ASA.
For further information:
Sverre J. Tidemand, CEO and Chairman, Sonata AS
Telephone +47 22 52 76 00 / +47 920 17 257
sverre.tidemand@belships.no
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.