Argeo: Key Information related to the Subsequent Offering

Asker, 19 March 2024. Reference is made to the stock exchange announcement
published by Argeo AS ("Argeo" or the "Company") on 19 March 2024 announcing the
completion of a private placement of 18,181,818 new shares in the Company, at a
subscription price of NOK 2.75 per share (the "Offer Price"), raising gross
proceeds of NOK 50 million (the "Private Placement").

The board of directors (the "Board") has today resolved to conduct a subsequent
offering (the "Subsequent Offering") with gross proceeds of up to NOK 30,250,000
million by issuing up to 11,000,000 new shares.

Please find key information relating to the Subsequent Offering below:

o	Date on which the terms and conditions of the Subsequent Offering were
announced: 19 March 2024
o	Last day including right: 19 March 2024
o	Ex-date: 20 March 2024
o	Record date: 21 March 2024
o	Date of approval: 19 March 2024 (conditions for completion of the Subsequent
Offering are set out below)
o	Maximum number of new shares: 11,000,000
o	Subscription price: NOK 2.75 per share

Other important information concerning the Subsequent Offering:
To mitigate the dilution of existing shareholders not participating in the
Private Placement, the Board has resolved to undertake a subsequent offering
(the "Subsequent Offering") of up to 11,000,000 new shares directed towards the
Company's shareholders as of close of trading 19 March March 2024, as recorded
in the Norwegian Central Securities Depository (Euronext Securities Oslo) on 21
March 2024, who (i) were not included in the "wall-crossing" phase of the
Private Placement, (ii) were not allocated Offer Shares in the Private Placement
and (iii) are not resident in a jurisdiction where such offering would be
unlawful and (in jurisdictions other than Norway) would require any prospectus,
filing, registration or similar action (the "Eligible Shareholders"). The
subscription price in the Subsequent Offering will be equal to the Offer Price.
The Eligible Shareholders will receive non-transferrable subscription rights in
the Subsequent Offering. Over-subscription will be permitted for Eligible
Shareholders. Subscription without subscription rights will not be permitted in
the Subsequent Offering.

The Subsequent Offering is subject to i) the EGM authorising the Board to issue
shares in the Subsequent Offering, ii) the publication of an offering prospectus
pertaining to the Subsequent Offering and iii) the prevailing market price of
the Company's shares following the Private Placement. The Board may decide that
the Subsequent Offering will not be carried out in the event that the Company's
shares trade at or below the subscription price (i.e. the Offer Price) in the
Subsequent Offering at meaningful volumes.

Advisors:
Pareto Securities AS and SpareBank 1 Markets AS are acting as global
coordinators and bookrunners.

Advokatfirmaet Schjødt AS is acting as legal counsel to the Company. 

***

This information is subject to a duty of disclosure pursuant to the Company's
continuing obligations as a company listed on Euronext Growth Oslo. This
information was issued as inside information pursuant to the EU Market Abuse
Regulation, and was published by Odd Erik Rudshaug, Chief Financial Officer, at
Argeo AS on the date and time provided.

For more information, please contact: 
Trond Figenschou Crantz, CEO
Email: [e-mail] 
Phone: [phone]

About Argeo 

Argeo is an Offshore Service company with a mission to transform the ocean
surveying and inspection industry by utilising autonomous surface and underwater
robotics solutions. Equipped with unique sensors and advanced digital imaging
technology, the Autonomous Underwater Vehicles (AUV's) will significantly
increase efficiency and imaging quality in addition to contributing to
significant reduction in CO2 emissions from operations for the global industry
in which the Company operates. The Company's highly accurate digital models and
digital twin solutions are based on geophysical, hydrographic, and geological
methods from shallow waters to the deepest oceans for the market segments Oil &
Gas, Renewables, Marine Minerals and Offshore Installations. Argeo was
established in 2017 and has offices in Asker (Oslo), Tromsø, Stockholm, Houston,
and Singapore. Since its incorporation, Argeo has carried out complex projects
for some of Norway's largest companies in the field. 

The company is listed on Euronext Growth Oslo under the ticker: ARGEO.

Please visit www.argeo.no for more information.

Important notice:
This announcement is not and does not form a part of any offer to sell, or a
solicitation of an offer to purchase, any securities of the Company. Copies of
this announcement are not being made and may not be distributed or sent into any
jurisdiction in which such distribution would be unlawful or would require
registration or other measures.

The securities referred to in this announcement have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the "Securities
Act"), and accordingly may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements of
the Securities Act and in accordance with applicable U.S. state securities laws.
The Company does not intend to register any part of the offering in the United
States or to conduct a public offering of securities in the United States. Any
sale in the United States of the securities mentioned in this announcement will
be made solely to "qualified institutional buyers" as defined in Rule 144A under
the Securities Act.

In any EEA Member State, this communication is only addressed to and is only
directed at qualified investors in that Member State within the meaning of the
Prospectus Regulation, i.e., only to investors who can receive the offer without
an approved prospectus in such EEA Member State. The expression "Prospectus
Regulation" means Regulation (EU) 2017/1129 as amended (together with any
applicable implementing measures in any Member State.

This communication is only being distributed to and is only directed at persons
in the United Kingdom that are (i) investment professionals falling within
Article 19(5) of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005, as amended (the "Order") or (ii) high net worth entities,
and other persons to whom this announcement may lawfully be communicated,
falling within Article 49(2)(a) to (d) of the Order (all such persons together
being referred to as "relevant persons"). This communication must not be acted
on or relied on by persons who are not relevant persons. Any investment or
investment activity to which this communication relates is available only for
relevant persons and will be engaged in only with relevant persons. Persons
distributing this communication must satisfy themselves that it is lawful to do
so.

Matters discussed in this announcement may constitute forward-looking
statements. Forward-looking statements are statements that are not historical
facts and may be identified by words such as "believe", "expect", "anticipate",
"strategy", "intends", "estimate", "will", "may", "continue", "should" and
similar expressions. The forward-looking statements in this release are based
upon various assumptions, many of which are based, in turn, upon further
assumptions. Although the Company believe that these assumptions were reasonable
when made, these assumptions are inherently subject to significant known and
unknown risks, uncertainties, contingencies and other important factors which
are difficult or impossible to predict and are beyond their control. Actual
events may differ significantly from any anticipated development due to a number
of factors, including without limitation, changes in public sector investment
levels, changes in the general economic, political and market conditions in the
markets in which the Company operates, the Company's ability to attract, retain
and motivate qualified personnel, changes in the Company's ability to engage in
commercially acceptable acquisitions and strategic investments, and changes in
laws and regulation and the potential impact of legal proceedings and actions.
Such risks, uncertainties, contingencies and other important factors could cause
actual events to differ materially from the expectations expressed or implied in
this release by such forward-looking statements. The Company does not make any
guarantee that the assumptions underlying the forward-looking statements in this
announcement are free from errors nor does it accept any responsibility for the
future accuracy of the opinions expressed in this announcement or any obligation
to update or revise the statements in this announcement to reflect subsequent
events. You should not place undue reliance on the forward-looking statements in
this announcement. 

The information, opinions and forward-looking statements contained in this
announcement speak only as at its date and are subject to change without notice.
The Company does not undertake any obligation to review, update, confirm, or to
release publicly any revisions to any forward-looking statements to reflect
events that occur or circumstances that arise in relation to the content of this
announcement.

Neither the Manager nor any of its affiliates makes any representation as to the
accuracy or completeness of this announcement and none of them accepts any
responsibility for the contents of this announcement or any matters referred to
herein.

This announcement is for information purposes only and is not to be relied upon
in substitution for the exercise of independent judgment. It is not intended as
investment advice and under no circumstances is it to be used or considered as
an offer to sell, or a solicitation of an offer to buy any securities or a
recommendation to buy or sell any securities of the Company. Neither the Manager
nor any of its affiliates accepts any liability arising from the use of this
announcement.

The distribution of this announcement and other information may be restricted by
law in certain jurisdictions. Persons into whose possession this announcement or
such other information should come are required to inform themselves about and
to observe any such restrictions.

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange