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    Prosafe completes acquisition of Dan Swift shares

    Company News // January 4, 2017

    Referring to an earlier announcment concerning execution of definitive agreements to acquire all of the outstanding shares in the two single purpose companies, Axis Nova Singapore Pte Ltd and Axis Vega (Singapore) Pte Ltd, and 25 per cent of the shares in Dan Swift (Singapore) Pte Ltd, Prosafe says the acquisition of Axis Nova and Axis Vega was completed on 16 December 2016 and it has now also completed acquisition of the shares in Dan Swift.

    As part of this, Prosafe has issued to Axis Offshore Pte Ltd as in-kind consideration subordinated zero coupon convertible bonds in the total amount of NKr 82,737,000, convertible into 2,757,900 shares at a conversion price of NKr 30 per share. The bonds have been issued by the Prosafe board based on the approval of and authorisation granted by the Company's extraordinary general meeting on 30 November 2016.

    With this, all steps of the transaction announced on 13 December 2016 have been completed.

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