Songa Offshore SE : Completion of subscription ...

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES

Reference is made to the prospectus dated 4 February 2014 and the stock exchange announcement dated 5 February 2014 regarding the subsequent offering (the "Subsequent Offering") of up to 61,000,000 shares (the "Offer Shares") in Songa Offshore SE (the "Company") at a subscription price of NOK 2.50 per Offer Share.

The subscription period in the Subsequent Offering expired as at the end of 24 February 2014. The Subsequent Offering was fully subscribed and it is expected that the Company as a result of the Subsequent Offering will issue 61,000,000 Offer Shares at NOK 2.50 per share raising gross proceeds of NOK 152,500,000.

All subscribers being allotted Offer Shares will receive a letter confirming the number of Offer Shares allotted to the subscriber and the corresponding amount to be paid. This letter is expected to be distributed on or about 26 February 2014.

Payment for the Offer Shares will fall due on 28 February 2014 and delivery will take place on or about 7 March 2014. Following issue of the Offer Shares the total number of issued shares in the Company is expected to increase by 61,000,000 shares, from 812,912,544 shares to 873,912,544 shares.

The Offer Shares may not be transferred or traded before they are fully paid and delivered to the investors' accounts with the Norwegian Central Securities Depository (VPS). The Offer Shares will be admitted to trading on Oslo Børs immediately following delivery.

Fearnley Securities AS and Swedbank First Securities are acting as joint lead managers and joint bookrunners for the Subsequent Offering.

Limassol, 25 February 2014

****

For further information, please contact:

Jan Rune Steinsland, CFO ([phone])

****

This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be offered or sold in the United States absent registration or an exemption from registration as provided in the U.S. Securities Act of 1933, as amended. The Company does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this announcement are not being made and may not be distributed or sent into the Australia, Canada, Japan or the United States.

Certain statements contained herein that are not statements of historical fact, may constitute forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual results or events concerning the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. Although the Company has attempted to identify important factors that could cause actual events or results to differ from those described in forward-looking statements contained herein, there can be no assurance that the forward-looking statements will prove to be accurate as actual future events could differ materially from those anticipated in such statements. Except as may be required by applicable law or stock exchange regulation, the Company undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

---

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Songa Offshore SE via Globenewswire

HUG#1764283