Aker completes Solstad placementCompany News // September 2, 2016
Referring to stock exchange notices published by Solstad Offshore on 7 June and 13 July 2016 regarding a financing plan for Solstad, Aker Capital, a wholly-owned subsidiary of Aker ASA, has subscribed for 20,000,000 new shares in Solstad Offshore at a subscription price of NKr 12.50 per share and an aggregate subscription price of NKr 250,000,000, and for the convertible loan in the amount of NKr 250,000,000 convertible to Solstad shares at a conversion price of NKr 12.50 per share.
At the same time, Solstad Offshore Holding AS, Ivan II AS and Solstad Invest AS, all of which are controlled by the Solstad family, have subscribed for a total of 2,811,189 new shares in SOFF at a subscription price of NKr 12.50 per share and an aggregate subscription price of NKr 35,139,862.50.
Solstad Offshore Holding AS subscribed for 2,811,189 shares, Ivan II AS 365,725 shares and Solstad Invest 288,714 shares.
Referring to a joint stock exchange notice by Solstad and Rem Offshore on 28 July, 2016 in respect of the merger of Rem Offshore with a subsidiary of Solstad, the aggregate issued share capital of Solstad Offshore will increase to 90,241,182 shares and the number of votes to 72,642,757 after giving effect to the creation of a new class B share with 1/10th vote through the merger. This will affect the proportion of shares and votes held by Aker and by the Solstad Family Companies as set forth in the stock exchange notice of 28 July 2016.
Aker holds a right to subscribe for 20,000,000 additional Solstad Offshore shares with one vote each at NKr 12.50 per share through the convertible loan. The effectiveness of the loan and these rights are subject to the same conditions as the registration of the share capital increase towards Aker and the Solstad family companies. The conversion right may be exercised from the date of disbursement of the loan and until 13 July 2021.