Prosafe SE: Update on timetable for refinancing completion

Reference is made to previous announcements concerning the refinancing (the "Refinancing") of Prosafe SE ("Prosafe" or the "Company") as announced on 7 July 2016, and latest the announcement of 13 September 2016 relating inter alia to issuance of the new class A shares in connection with the private placement closed on 12 July 2016.  

According to the timetable set out in the release on 13 September, the new class A shares were delivered to subscribers against payment yesterday, 14 September 2016. Furthermore, the Company has now in accordance with the Refinancing terms redeemed bonds against issuance of new convertible bonds in the aggregate nominal amount of NOK 81,790,013. This redemption was due to a delay in the VPS delivery of bonds finally completed today, with the consequence that the record date for the conversion of bonds to shares will also be today. The timetable for the remaining Refinancing completion will therefore be adjusted by one day as follows: 

Date	Action
15 September 2016	Record date for conversion of bonds to shares
19 September 2016	Conversion of bonds to class A shares
19 September 2016	Listing of all class A shares on the Norwegian OTC list (N-OTC)
19 September 2016	Record date for remaining forced cash conversion of bonds
21 September 2016	Settlement of the remaining bonds forced to cash conversion
21 September 2016	Last day of listing of bonds on Oslo Boers

Prosafe is the world's leading owner and operator of semi-submersible accommodation vessels. The company is headquartered in Larnaca, Cyprus and listed on the Oslo Stock Exchange with ticker code PRS. For more information, please refer to www.prosafe.com (http://www.prosafe.com/).

 

Larnaca, 15 September 2016

Georgina Georgiou, General Manager

Prosafe SE

 

For further information, please contact:

 

Glen Ole Roedland, Interim Chairman

Prosafe SE

Phone: [phone]

 

Stig Harry Christiansen, Acting CEO

Prosafe Management AS

Phone: [phone]

 

Robin Laird, Acting CFO

Prosafe Offshore Services Pte Limited

Phone: [phone]

Cecilie Helland Ouff, Senior Manager Finance and Investor Relations         
Prosafe AS       
Phone: [phone]

 

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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Source: Prosafe SE via Globenewswire