SeaBird Exploration Plc: Listing of warrants
May 18 2015 - 07:12AM
18 May 2015, Limassol, Cyprus
Reference is made to the previous
press releases regarding the restructuring (the "Restructuring") of
SeaBird Exploration Plc (the "Company").
The Company announces that 884,687,500 warrants
issued to subscribers for shares in the Restructuring, each
convertible into one ordinary share of the Company, is expected to
be distributed to the VPS accounts of the entitled warrant holders
today. The warrants will be listed on Oslo Børs with ticker SBX J
from tomorrow, 19 May 2015. The warrants expire on 15 January 2018,
with last day of listing 10 January 2018. Each warrant can be used
to subscribe, within their expiration, for one share of the Company
at an exercise price of NOK 0.10. The value of the warrants lies in
the positive difference, if any, between the market price of the
share price of the shares and the exercise price of the warrants,
or in such expected future difference. The warrants have no value
if exercised at a time when the market price of the shares are
lower than the exercise price of the warrants, as shares could then
be acquired at a lower price in the market. If not exercised until
their expiration, the warrants will lapse with no value. Pursuant
to the terms of the warrants, the Company shall issue the relevant
shares within three months of receipt of applicable exercise
notice. The warrants are described in section 5.3 of the Company's
prospectus of 30 April 2015, available on www.sbexp.com.
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: +47 22402717
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#1922017
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