NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO
The Company had appointed
The Company intends to use the net proceeds from the Private Placement to strengthen the working capital in connection with two three-year back-to-back charterparties on eco-design and scrubber fitted Very Large Crude Carriers ("VLCC"), one of which was placed on subjects on
Notification of conditional allocation expected to be sent to the applicants by the Managers on or about
The completion of the Private Placement is subject to (i) an extraordinary general meeting (the "EGM") of the Company resolving the share capital increases pertaining to the issuance of the Offer Shares and authorizing the Board to resolve any Subsequent Offering (as defined and described below) expected on or about
The Company's share capital following the Private Placement will be
The
The
The Private Placement represents a deviation from the shareholders' pre-emptive right to subscribe for the Offer Shares. The Board has considered the Private Placement in light of the equal treatment obligations under the Norwegian Public Limited Companies Act, the Norwegian Securities Trading Act, the rules on equal treatment under Oslo Rule Book II for companies listed on the
Subject to, inter alia, completion of the Private Placement and approval by the EGM, approval and publication of a prospectus and prevailing market price of the Company's shares being higher than the Offer Price as determined by the Board, the Board intends to conduct a subsequent offering of 14,200,000 new shares at the Offer Price (the "Subsequent Offering"). A Subsequent Offering shall, if made, and on the basis of the prospectus, be directed towards existing shareholders in the Company as of
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This
Contact:
Lars M. Brynildsrud, CFO, lb@huntergroup.no, Ph.: +47 932 60 882
Forward looking statements: This announcement includes forward-looking statements, relating inter alia to the charterparties, financing, VLCC rates, prices, and values, the Private Placement, the Offer Shares, the conditions to the Private Placement, the use of proceeds therefrom and other non-historical statements, and the proposed Subsequent Offering. These forward-looking statements are subject to numerous risks, uncertainties and assumptions, changes in market conditions and other risks. Forward-looking statements reflect knowledge and information available at, and speak only as of, the date they are made. Except as required by law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date hereof or to reflect the occurrence of unanticipated events. Readers are cautioned not to place undue reliance on such forward -looking statements.
Disclaimer: This announcement is made by, and is the responsibility of, the Company. The Managers and their affiliates are acting exclusively for the Company and no-one else in connection with the transactions described in this announcement. They will not regard any other person as their respective clients in relation to the transactions described in this announcement and will not be responsible to anyone other than the Company, for providing the protections afforded to their respective clients, nor for providing advice in relation to the transactions described in this announcement, the contents of this announcement or any transaction, arrangement or other matter referred to herein. In connection with the transaction described in this announcement, the Managers and any of their affiliates, acting as investors for their own accounts, may subscribe for or purchase securities and in that capacity may retain, purchase, sell, offer to sell or otherwise deal for their own accounts in such securities of the Company or related investments in connection with the transactions described in this announcement or otherwise. Accordingly, references in any subscription materials to the securities being issued, offered, subscribed, acquired, placed or otherwise dealt in should be read as including any issue or offer to, or subscription, acquisition, placing or dealing by, the Managers and any of their affiliates acting as investors for their own accounts. The Managers do not intend to disclose the extent of any such investment or transactions otherwise than in accordance with any legal or regulatory obligations to do so.
https://news.cision.com/hunter-group-asa/r/hunter-group-asa---completed-private-placement,c3907260
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