Brief: AMSC To Pay Dividend, Remain Public Co Following Sale of Jones Act Biz

Amsc ASA

22/08/2023 07:53

Aug 22 (Reuters) - Amsc ASA  AMSCM.OL :
    * FOLLOWING CLOSING OF TRANSACTION, INTENDS TO RESOLVE PAYING AN ADDITIONAL DIVIDEND OF USD
170
MILLION
    * EXPECTED ADDITIONAL DIVIDEND EQUATES TO ABOUT NOK 25.1 PER SHARE ASSUMING A NOK/USD
EXCHANGE
RATE OF 10.6
    * WILL RETAIN REMAINING CASH PROCEEDS FROM TRANSACTION TO BE USED FOR GENERAL CORPORATE
PURPOSES
AND EQUITY FOR FUTURE INVESTMENTS IN NEW PROJECTS
    * WILL CONTINUE TO OWN NORMAND MAXIMUS ON BAREBOAT CONTRACT TO A SINGLE PURPOSE SUBSIDIARY
OF
SOLSTAD OFFSHORE
    * WILL REMAIN AS A PUBLIC COMPANY WITH SHARES LISTED ON EURONEXT OSLO STOCK EXCHANGE

Source text for Eikon:  ID:nWkrbvyhNC 
Further company coverage:  AMSCM.OL 

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