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2016-12-22

Viking Supply Ships AB: Outcome of Viking Supply Ships AB's rights issue

This press release may not be disclosed, published or distributed,
directly or indirectly in or to the USA, Australia, Japan, Canada or
any other jurisdiction where such measure entirely or partially is
subject to legal restrictions.

22 December 2016

The final statement of outcome in the new share issue in Viking Supply
Ships AB ("Viking Supply Ships" or "the Company") with preferential
rights for the Company's shareholders shows that 107,983,029 shares
(whereof 6,748,258 A-shares and 101,234,771 B-shares), corresponding
to approximately 78.2 percent of the offered shares were subscribed
for by exercise of subscription rights. In addition, 2,428,793 shares
(whereof 2,301,144 A-shares and 127,649 B-shares) have been allocated
to persons who have subscribed for shares on the basis of secondary
preferential rights or without preferential rights. The remaining
27,600,424 B-shares, corresponding to 20.0 percent of the offered
shares were assigned to Kistefos (through the wholly owned subsidiary
Viking Invest AS) acting as guarantor.

The Company's largest shareholder Kistefos AS has (directly or
indirectly through the wholly owned subsidiary Viking Invest AS)
("Kistefos") on the basis of primary preferential rights, secondary
preferential rights or without preferential rights, and pursuant to
the guarantee undertaking, been allocated in total 6,934,963 A-shares
and 120,123,468 B-shares equivalent to approximately 76.6 percent and
93.1 percent of the offered A-shares and B-shares, respectively,
corresponding to in total approximately 92.1 percent of the offered
shares.

The allotment of shares that were subscribed for without subscription
rights has been made in accordance with the principles outlined in
the prospectus that was prepared in conjunction with the rights issue
and published on 1 December 2016. Notification regarding the
allotment of shares that have been subscribed for with secondary
preferential rights will shortly be sent to those who have been
allotted shares. Through the rights issue, Viking Supply Ships will
receive approximately SEK 207 million before deduction of transaction
costs. The share capital will increase by SEK 138,012,246 from SEK
177,444,318 to SEK 315,456,564, and the number of shares will
increase by 9,049,402 A-shares and 128,962,844 B-shares, from
177,444,318 shares to 315,456,564 shares when the rights issue has
been registered with the Swedish Companies Registration Office
("SCRO").

The new shares subscribed for with subscription rights are expected to
be registered with the SCRO on or about 22 December 2016, and are
expected to start trading on Nasdaq Stockholm on or about 4 January
2017. The new shares subscribed for on the basis of secondary
preferential rights or without preferential rights are expected to be
registered with SCRO on or about 30 December 2016 and are expected to
start trading on or about 4 January 2017.

Furthermore, subscription and allotment have also been made in the
share issue with payment against set-off for Kistefos (through the
wholly owned subsidiary Viking Invest AS) in respect of the guarantee
fee for Kistefos' undertaking as guarantor in the rights issue.
Through the share issue with payment against set-off for Kistefos,
the share capital will increase by SEK 1,838,490 and the number of
shares will increase by 1,838,490 B-shares, when the share issue has
been registered with the SCRO. The new shares are expected to be
registered with the SCRO on or about 30 December 2016, and are
expected to start trading on Nasdaq Stockholm on or about 2 January
2017.

Through the rights issue, the two new issues with payment against
set-off to Viking Invest AS and Odin Viking SPV AS, respectively, in
which the outcome was announced through a press release on 20
December 2016, the directed new issue to Odin Viking SPV AS in which
subscription was made on 19 December 2016 and the new issue with
payment against set-off to Viking Invest AS for the guarantee fee for
Kistefos' guarantee undertaking in the rights issue, the share
capital of the Company will increase with SEK 194,456,933 from SEK
177,444,318 to SEK 371,901,251, and the number of shares will
increase with 9,049,402 new A-shares and 362,851,849 new B-shares,
from 177,444,318 shares to in total 371,901,251 shares when all above
mentioned share issues have been registered with the SCRO.

Through the five above mentioned share issues, Kistefos will increase
its holdings in the Company to in total 12,892,783 A-shares and
295,526,354 B-shares equivalent to approximately 62.3 percent and
84.1 percent of the total number of A-shares and B-shares in the
Company, respectively, corresponding to in total approximately 82.9
percent of the total number of shares in the Company after completion
of the share issues.

Financial and legal advisors

Swedbank Corporate Finance is acting as financial adviser to Viking
Supply Ships in conjunction with the transactions. Mannheimer
Swartling Advokatbyrå is acting as legal advisor in conjunction with
the share issues.

Investor relations

Bengt A. Rem, Interim CEO, tel. +47 94 01 71 71, e-mail
bengt.rem@kistefos.no

Morten G. Aggvin, IR & Treasury Director, tel. +47 41 04 71 25, e-mail
mga@vikingsupply.com

Important information

The information in this press release does not contain or constitute
an offer to acquire, subscribe or otherwise trade in shares,
subscription rights or other securities in Viking Supply Ships AB.

This press release may not be published or distributed, directly or
indirectly in or into the United States, Australia, Japan, Canada or
any other jurisdiction where such action is wholly or partially
subject to legal restrictions or where such action would require
additional prospectuses, registrations or other actions in addition
to what follows from Swedish law. Nor may the information in this
press release be forwarded, reproduced or disclosed in such a manner
that contravenes such restrictions or would require such
requirements. Failure to comply with this instruction may result in a
violation of applicable securities laws.

No subscription rights, BTAs (interim shares) or new shares will be
registered under the United States Securities Act of 1933
("Securities Act") or securities legislation in any other state or
other jurisdiction in the United States and may not be offered,
subscribed, sold or transferred, directly or indirectly within the
United States, other than pursuant to an exemption from the
registration requirements of the Securities Act and in accordance
with securities laws in relevant state or other jurisdiction in the
United States.

This press release may contain forward-looking statements which
reflect Viking Supply Ship's current view on future events and
financial and operational development. Words such as "intend",
"expect", "anticipate", "may", "believe", "plan", "estimate" and
other expressions which imply indications or predictions of future
development or trends, and which are not based on historical facts,
are intended to identify forward-looking statements. Forward-looking
statements inherently involve both known and unknown risks and
uncertainties because they depend on future events and circumstances.
Forward-looking statements do not guarantee future results or
development and the real outcome could differ materially from the
forward-looking statements.

Viking Supply Ships AB is the parent company of a Swedish shipping
group with its main office in Gothenburg, Sweden. The Group conducts
its business in four segments: Anchor Handling Tug Supply ships
(AHTS), Platform Supply Vessels (PSV), Services and Ship Management.
The business is focused within offshore and ice-breaking primarily in
Arctic and subarctic areas. The Group has approximately 500 employees
and its revenue for 2015 amounted to MSEK 1,114. The Company's series
B share is listed at Nasdaq Stockholm, Small Cap segment.
www.vikingsupply.com.

This information is information that Viking Supply Ships AB is obliged
to make public pursuant to the EU Market Abuse Regulation. The
information was submitted for publication, through the agency of the
contact person set out above, at 12:30 a.m. CET on 22 December 2016.

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http://feed.ne.cision.com/client/waymaker1/WOLReleaseFile.aspx?id=384973...
http://mb.cision.com/Main/509/2155590/607691.pdf

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