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2022-06-03 11:10:00
Reach Subsea - Approved prospectus for listing of shares
Haugesund, 3 June 2022: Reference is made to previous announcements made by
Reach Subsea ASA ("Reach" or the "Company") on 23 March 2022 and on 25 March
2022 regarding the issuance of a total of 79,972,720 new shares in the Company
(the "New Shares").
The New Shares consists of (i) 33,846,153 new consideration shares issued to
iSURVEY Holding AS in connection with the acquisition of ISURVEY Group AS, and
(ii) 46,126,567 new ordinary shares issued in a private placement directed
towards Wilhelmsen New Energy AS.
The Financial Supervisory Authority of Norway (Norwegian: Finanstilsynet) has
today approved a prospectus (the "Prospectus") relating to the listing of the
New Shares on Oslo Børs. The prospectus will be available in electronic format
at the Company's web site at:
https://reachsubsea.no/investors/financial-reports/.
The New Shares, which currently are registered in book-entry form with Euronext
Securities Oslo under a separate ISIN (being ISIN NO0012478421), are expected to
be transferred to the ordinary ISIN of the Company's shares (being ISIN
NO0003117202) on or about 8 June 2022 and become tradeable on the Oslo Stock
Exchange under the Company's trading symbol "REACH".
Advokatfirmaet Schjødt AS acts as legal advisor to the Company and Fearnley
Securities AS acted as financial advisor to the Company in connection with the
transactions.
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
For more information, please contact:
Jostein Alendal, CEO
Birgitte Wendelbo Johansen, CFO/IR
About Reach Subsea:
Reach Subsea ASA Group offers subsea services as a subcontractor and/or directly
to end clients, based out of our head office in Haugesund. The core business of
the Group is based on modern, high spec Work ROVs operated by highly-qualified
offshore personnel, and supported by onshore engineering resources. The Group's
objective is to be a preferred subsea partner and full-service provider of
subsea operations for clients, focusing on safety, environment, financial
solidity and profitability.