Songa Offshore SE : Preliminæry result of ...

Reference is made to the stock exchange notice dated 27 May 2016 and the prospectus dated 26 May 2016 regarding the subsequent offering (the "Subsequent Offering") of up to 1,418,100,000 new shares in Songa Offshore SE ("Songa Offshore"). Songa Offshore hereby announces the preliminary results of the Subsequent Offering.

The subscription period in the Subsequent Offering expired at 16:30 hours (CET) on 13 June 2016.

The offering was fully subscribed. As a result, Songa Offshore will issue 1,418,100,000 Shares at NOK 0.15 per Offer Share raising gross proceeds of NOK 212,715,000.

Allocation of  Offer Shares will be made based on the allocation  criteria set out in the prospectus dated 26 May 2016. All subscribers being allocated Offer Shares will receive an allocation letter confirming the number of Offer Shares allocated to the subscriber and the corresponding amount to be paid. This allocation letter is expected to be distributed on or about 14 June 2016.

Payment of the Offer Shares will fall due on or about 17 June 2016 and delivery of the Offer Shares will take place on or about 23 June 2016.

The Offer Shares may not be transferred or traded before they are fully paid, and the Offer Shares are registered in the Norwegian Central Securities Depository (VPS). The Offer Shares will be admitted to trading on the Oslo Stock Exchange upon delivery, expected to be on or about 23 June 2016. Following the offering the total number of ordinary shares in Songa Offshore will increase by 1,418,100,000 from 873,912,544 to 2,292,012,544 shares. In addition, Songa Offshore has 8,466,839,157 Class A Shares in issue, which will convert ordinary shares and be admitted to trading on the Oslo Stock Exchange following release of Songa Offshore's Q3 2016 report.

Important information:

The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia).

This release is an announcement issued pursuant to legal information obligations, and is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction.  The securities mentioned herein have not been, and will not be registered under the United States Act of 1933, as amended (the "Securities Act").  The Securities may not be offered or sold in United States except pursuant to an exemption from the registration requirements of the Securities Act.  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 United States. Copies of this announcement are not being made and may not be distributed or sent into Australia, Canada, Japan or the United States.  The subscription or purchase of shares in the Company is subject to specific legal or regulatory restrictions in certain jurisdictions.  Neither the Company nor the Managers assumes any responsibility in the event there is a violation by any person of such restrictions.

The distribution of this release may in certain jurisdictions be restricted by law. Persons into whose possession this release comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute violation of the securities laws of any such jurisdiction. The Managers are acting for the Company and no one else in connection with the Subsequent Offering and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients or for providing advice in relation to any other matter
referred to in this release.

Forward-looking statements:

This release and any materials distributed in connection with this release may contain certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect the Company's current expectations and assumptions as to future events and circumstances that may not prove accurate.  A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

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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

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