Reference is made to the stock exchange announcement from DOF Group ASA ("DOF" or the "Company") published on 3 July 2024 regarding the successful completion of a private placement raising NOK 1,064 million in gross proceeds at a price per share of NOK 99.00 (the “Private Placement”) and the contemplated subsequent offering of up to 2,014,943 shares at the same subscription price as in the Private Placement (the “Subsequent Offering”).
The Company’s shares have in recent months traded around or below the subscription price in the Private Placement at significant volumes. Following the announcement of the completion of the Private Placement, 31,835,698 of the Company's shares (i.e. more than 15 times the size of the Subsequent Offering) have traded at or below the Subscription Price on the Oslo Stock Exchange (the volume-weighted average price per share for this volume has been NOK 91.9121). Additionally, the closing price per share today (7 October 2024) on the Oslo Stock Exchange was NOK 93.50 (i.e. well below the Subscription Price).
Existing shareholders wishing to neutralize the dilutive effect of the Private Placement, have thus had the opportunity to purchase shares in the market at prices below the price which would have been the subscription price in the Subsequent Offering.
The Company’s board of directors has therefore resolved not to proceed with the Subsequent Offering. The board of directors have in this respect also taken into account that the proceeds from the Subsequent Offering will not be required to fund the contemplated acquisition of Maersk Supply Service A/S nor for general corporate purposes.
Following cancellation of the Subsequent Offering, the separate share issue directed towards Maersk Supply Service Holding ApS (“MSSH”) in connection with, and subject to completion of, the Subsequent Offering will also be cancelled.
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements according to section 5-12 of the Norwegian Securities Trading Act. The information was submitted for publication by Hilde Drønen, CFO, on 7 October 2024 at the time set out above.
