Hold the Presses is your online newsportal en brings press releases from around the world. Journalists can use it for free, although it is their responsibilty to check the news. Hold the Presses is in no way responsible for the content of the press releases, the Sender is. We hope you enjoy reading the news we bring you on this website. If a message is published that is not acceptable, we apologize. Please contact us and we will remove the message as soon as possible.

Friday, 4 August 2017

SeaBird Exploration: issue of shares as part of completion of debt restructuring

SeaBird Exploration Plc    

Published: 13:48 CEST 04-08-2017 /GlobeNewswire /Source: SeaBird Exploration Plc / : SBX /ISIN: CY0101162119

SeaBird Exploration: issue of shares as part of completion of debt restructuring

4 August 2017, Limassol, Cyprus

 

Reference is made to the announcement of 1 August 2017 concerning the completion of SeaBird Exploration PLC's debt restructuring.

 

As part of completion of the debt restructuring, the board of directors of SeaBird Exploration PLC has resolved to issue 54,389,711 new shares. The new shares will upon registration by the Registrar of Companies in Cyprus be delivered to investors in the VPS, expected to take place on or around 8 August 2017. After the registration of the new shares, the company will have 57,455,145 issued shares, each with a par value of US$0.10.

SeaBird is a global provider of marine acquisition for 2D/3D and 4D seismic data, and associated products and services to the oil and gas industry. SeaBird specializes in high quality operations within the high end of the source vessel and 2D market, as well as in the shallow/deep water 2D/3D and 4D market. Main focus for the company is proprietary seismic surveys (contract seismic). Main success criteria for the company are an unrelenting focus on Quality, Health, Safety and Environment (QHSE), combined with efficient collection of high quality seismic data. All statements in this press release other than statements of historical fact are forward-looking statements and are subject to a number of risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include SeaBird`s reliance on a cyclical industry and the utilization of the company's vessels. Actual results may differ substantially from those expected or projected in the forward-looking statements.

 

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

 

For further queries contact:

 

Christophe Debouvry
CEO SeaBird Exploration
Phone: +47 22402705

or

Nils Haugestad
CFO SeaBird Exploration
Phone: +47 22402717

 

 





This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of NASDAQ OMX Corporate Solutions clients. Source: SeaBird Exploration Plc, PO Box 1302 Vika, Oslo 0112, Norge
If you would like to unsubscribe and stop receiving these e-mails click here.