Songa Offshore SE: Cancellation of the Subsequent Offering

Songa Offshore SE: Cancellation of the Subsequent Offering Reference is made to the press release dated 20 April 2012 "Completed Private Placement of New Shares", in which Songa Offshore ("Songa" or the "Company") informed that the Board of Directors had resolved to conduct a "subsequent repair offering" to the shareholders in Songa who were not invited to participate in the private placement. The amount indicated for the repair offering was set to the NOK equivalent of USD 10 million. 
 
The subscription price in the subsequent offering was set to NOK 18 per share. Closing share price as per 27 June 2012 was NOK 13.76 at the Oslo Stock Exchange, and the share has for the last weeks been trading below the subscription price. Based on this the Board of Directors has decided not to proceed with the "subsequent repair offering". 
 
Limassol, 28 June 2012. 
 
Questions should be directed to:
Geir Karlsen,  CFO +47 23 01 14 24 / +47 91 60 83 32

 

This content was originally distributed by Thomson Reuters One on 2012-06-28 08:00 CEST
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