Reference is made to the press releases as of 25 November 2016 and 14 June 2017 regarding incentive programs established for employees of Songa Offshore.
In order to fulfil its obligations thereunder, Songa Offshore SE has today issued 346,607 new shares at par value for delivery under the Long Term Incentive Program (LTIP). Following such issuance and before distribution to the employees, the LTIP holds 348,053 shares, which is equal to the number of shares due for the initially scheduled 1 July 2018 vesting. Due to the contemplated transaction with Transocean, an accelerated vesting will take place, due to applicable change of control clause in the LTIP plan and in order for the relevant shares to be tendered in the Offer Period.
Following the share issue, the number of ordinary shares in the Company has increased to 138,484,769.
22 December 2017
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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