SeaBird Exploration Plc: Approval of prospectus
April 30 2015 - 7:52AM
30 April 2015, Limassol, Cyprus
Reference is made to previous press releases
regarding the restructuring (the "Restructuring") of SeaBird
Exploration PLC (the "Company"), i.a. the press release dated 3
March 2015 where the Company announced the issue of new preference
shares, warrants convertible into new ordinary shares and a new
secured bond. The Financial Supervisory Authority of Norway has on
30 April 2015 approved a prospectus concerning (i) the listing and
admission to trading on Oslo Børs of 3,007,846,500 new shares, each
with a par value of USD 0.0001, (ii) the application for listing
and admission to trading on Oslo Børs of Bonds issued by the
Company's subsidiary SeaBird Exploration Finance Limited in SBX04,
being a USD 29.3 million first lien callable bond issue 2015/2018
and (iii) the application for listing of 884,687,500 warrants
maturing in 2018. The Prospectus is available on the Company's web
site www.sbexp.com.
The new ordinary shares which are covered by the
prospectus are not yet listed on the Oslo Stock Exchange. They are
expected to be listed on the Oslo Stock Exchange after a settlement
period in the VPS, currently expected to be on or around 7 May
2015. The Company will give an announcement on the effective day of
the listing of the new ordinary shares. The new bonds and warrants
are not yet listed.
SeaBird is a global provider of marine acquisition
for 2D/3D and 4D seismic data, and associated products and services
to the oil and gas industry. SeaBird specializes in high quality
operations within the high end of the source vessel and 2D market,
as well as in the shallow/deep water 2D/3D and 4D market. Main
focus for the company is proprietary seismic surveys (contract
seismic). Main success criteria for the company are an unrelenting
focus on Health, Safety, Security, Environment and Quality (HSSEQ),
combined with efficient collection of high quality seismic data.
All statements in this press release other than statements of
historical fact are forward-looking statements and are subject to a
number of risks, uncertainties and assumptions that are difficult
to predict, and are based upon assumptions as to future events that
may not prove accurate. These factors include SeaBird`s reliance on
a cyclical industry and the utilization of the company's vessels.
Actual results may differ substantially from those expected or
projected in the forward-looking statements.
This information is subject of the disclosure
requirements pursuant to section 5-12 of the Norwegian Securities
Trading Act.
For further queries contact:
Dag Reynolds
CEO SeaBird Exploration
Phone: +47 90883737
Nils Haugestad
CFO SeaBird Exploration
Phone: +971 4 427 1700
SBX Prospectus 2015
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: SeaBird Exploration Plc via Globenewswire
HUG#1917473
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