NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.
Reference is made to the stock exchange release by Seabird Exploration Plc (the "Company") on 24 May 2018 regarding the successfully completed private placement (the "Private Placement").
The following key information is given with respect to the Subsequent Offering:
Date of announcement of terms of Subsequent Offering: 24 May 2018
Last day including right to receive subscription rights: 24 May 2018
First day excluding right to receive subscription rights: 25 May 2018
Record date: 28 May 2018
Date of approval of Subsequent Offering: 24 May 2018
Maximum number of Offer Shares: 156,250,000
Subscription price: NOK 0.16 per Offer Share
Other information: The Board of Directors has resolved to carry out a subsequent offering of up to 156,250,000 shares raising proceeds of up to NOK 25 million (the "Subsequent Offering") to its existing shareholders as of close of trading 24 May 2018, as subsequently recorded in the VPS, who did not participate in the Private Placement and who are not resident in a jurisdiction where such offering would be unlawful, or would (in jurisdictions other than Norway) require any prospectus filing, registration or similar action. Such shareholders will be granted non-tradable subscription rights to subscribe for, and, upon subscription, be allocated new shares. One subscription right will entitle the holder to subscribe for one share in the Subsequent Offering. Oversubscription for the relevant shareholders will be allowed. Subscription without subscription rights will not be allowed.
Completion of the subsequent offering is subject to completion of the Private Placement resolved and announced on 24 May 2018 and approval and publication of a prospectus, expected to take place in July 2018.
This information is published in accordance with the requirements of the Continuing Obligations. This information is subject of the disclosure requirements pursuant to section 5 - 12 of the Norwegian Securities Trading Act.