SMH is pleased to announce that the Offering has been successfully placed, raising gross proceeds of approx. NOK 750 million through the issuance of 63,497,303 new shares in SMH (the “Offer Shares”), each at a price of NOK 11.82 per share (the “Offer Price”).
SMH has received subscriptions and allocated 58,401,784 Offer Shares based on subscription rights exercised during the subscription period, equal to approx. NOK 690 million. Aker Capital AS (“Aker”) had fully underwritten the Offering, and had undertaken to subscribe for any Offer Shares not allocated to others on the basis of the exercise of subscription rights issued in the Offering. On this basis, Aker has subscribed for 5,095,519 Offer Shares in the Offering. All applicants who have submitted a valid subscription on the basis of subscription rights have received an allocation.
Notifications of allocated Offer Shares and the corresponding amount to be paid by investors are expected to be communicated to investors on or about 13 June 2024. Investors who have access to investor services through their VPS account manager should be able to see how many Offer Shares they have been allocated from 12:00 (CEST) on or about 13 June 2024. Pareto Securities AS (the “Manager”) may also be contacted from 12:00 (CEST) for information regarding allocation, payment and delivery of the shares in the Offering.
Eligible investors are also reminded of SOFF’s stock exchange announcement on 4 June 2024 regarding a possible offering by Solstad Shipholding AS to buy SMH shares after completion of the Offering, directed towards eligible shareholders in SOFF who received 200 or less subscription rights in the Offering and exercised such subscription rights (in part or in whole) during the Offering subscription period. Further details will be communicated on or about 13 June 2024.
The payment for allocated Offer Shares falls due on or about 17 June 2024. Subject to timely payment of the subscription amount in the Offering, SMH expects that the share capital increase pertaining to the Offering will be registered with the Norwegian Register of Business Enterprises on or about 21 June 2024 and that the Offer Shares will be delivered to the VPS accounts of the subscribers to whom they are allocated on or about 24 June 2024, subject to satisfaction of the relevant subscribers’ payment obligation.
Following registration of the new share capital pertaining to the issuance of the Offer Shares in the Offering, SMH will have a share capital of NOK 93,071,711 divided into 465,358,555 shares, each with a par value of NOK 0.20. Following completion of the Offering, Aker Capital AS will own 195 450 849 shares in SMH, corresponding to an ownership interest of approx. 42%, AMSC ASA will own 90,442,601 shares in SMH, corresponding to an ownership interest of approx. 19,4% and Solstad Shipholding AS, a wholly owned subsidiary of SOFF, own 126,903,553 shares in SMH , corresponding to an ownership interest of approx. 27,3%. Solstad Shipholding AS’ ownership in SMH may further change as a result of the possible offering by Solstad Shipholding AS to buy SMH shares as described above.
