Brief: Siem Offshore Announces Plan For Re-Domiciliation

Sea1 Offshore

08/03/2022 08:48

March 8 (Reuters) - Siem Offshore Inc  SIOFF.OL :
    * SIEM OFFSHORE ANNOUNCES PLAN FOR RE-DOMICILIATION
    * NEW NORWEGIAN HOLDING COMPANY WILL BE ESTABLISHED FOR
SIOFF
GROUP.
    * RE-DOMICILIATION BY WAY OF SIEM RENEWABLES AS MAKING A
SHARE-FOR-SHARE OFFER FOR ALL OUTSTANDING SHARES IN SIOFF
    * SIEM RENEWABLES AS IS CURRENTLY AN EMPTY COMPANY
INDIRECTLY
OWNED BY SIEM INDUSTRIES S.A.
    * SIEM RENEWABLES AS WILL BE CONVERTED INTO A PUBLIC LIMITED
LIABILITY COMPANY AND CHANGE ITS NAME TO SIEM SUSTAINABLE ENERGY
    * IF OFFER IS SUCCESSFUL, SIOFF WILL BECOME A SUBSIDIARY OF
SSE
    * IT WILL BE INTENTION TO DE-LIST SIOFF FROM OSLO STOCK
EXCHANGE
    * SSE WILL APPLY FOR A LISTING ON OSLO STOCK EXCHANGE AS
PART OF
PROCESS.
    * INTENTION IS THAT SIOFF'S EXISTING BUSINESS, WITH A FLEET
MAINLY
DEPLOYED IN OIL AND GAS SECTOR, WILL BE CONTINUED IN SIOFF
    * INTENTION IS TO CARRY OUT A SQUEEZE-OUT OF REMAINING
OUTSTANDING
SHARES IN SIOFF
    * SECURED COMMITMENTS OF AN EQUITY ISSUE OF UP TO NOK 80
MILLION
TO FINANCE A SQUEEZE-OUT.
    * SHAREHOLDERS REPRESENTING APPROX. 38% OF SHARES IN SIOFF
HAVE
EXPRESSED THEIR SUPPORT OF OFFER.
    * COMPANY SEEKS TO COMPLETE RE-DOMICILIATION DURING FIRST
HALF OF
2022.

Source text for Eikon:  ID:nObiXhlPka 
Further company coverage:  SIOFF.OL 

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