Reference is made to the announcement by Prosafe SE (Prosafe) on 13 December concerning execution of definitive agreements to acquire all of the outstanding shares in the two single purpose companies Axis Nova Singapore Pte. Ltd. (Axis Nova) and Axis Vega (Singapore) Pte. Ltd. (Axis Vega), and 25% of the shares in Dan Swift (Singapore) Pte. Ltd (Dan Swift Shares).
The acquisition of Axis Nova and Axis Vega was completed on 16 December 2016. Today Prosafe reports the completion also of the acquisition of the Dan Swift Shares. As part of this, Prosafe has ssued to Axis Offshore Pte. Ltd. as in-kind consideration subordinated zero coupon convertible bonds in the total amount of NOK 82,737,000, convertible into 2,757,900 shares at a conversion price of NOK 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. For further details on the transaction, please refer to the detailed announcement of 10 November 2016, including the presentation material attached thereto.
Clarksons Platou Securities and Schjodt act as advisors to Prosafe on the transaction. Danske Bank has delivered a fairness opinion on the terms of the transaction to the Board of Prosafe.