The Subsequent Offering will be directed towards existing shareholders of the Company as of June 21, 2012 (as documented by the shareholder register in the VPS as of June 26, 2012), who were not invited to participate in the private placement. Each existing share held as of this date will give the eligible holder a right to subscribe for approximately 0.58 new shares in the Company. The subscription rights will not be tradable. Oversubscription will be allowed.
The subscription price in the Subsequent Offering will be NOK 1.50 per share, and the number of shares offered will hence be 250 million. The subscription period for the Subsequent Offering is expected to commence in August/September 2012. The Subsequent Offering is conditional upon completion of the private placement and hence also on satisfaction of the previously announced conditions for the completion of the private placement.
The Company expects to publish the EGM notice on or about June 29, 2012 and the EGM is expected to be held on or about July 20, 2012.
