NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE’S REPUBLIC OF CHINA, SOUTH AFRICA, NEW ZEALAND, JAPAN, THE UNITED STATES, THE UNITED KINGDOM OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
Reference is made to the stock exchange announcement published by ADS Maritime Holding Plc (the “Company”) on 3 October 2022 regarding the subsequent offering (the “Subsequent Offering”) of up to 34,190,476 existing ordinary shares in the Company held by B T Larsen & Co Ltd. (the “Offer Shares”) at a price of NOK 2.10 per Offer Share (the “Offer Price”).
The application period for the Subsequent Offering will expire at 16:30 hours (CEST) today, on 18 October 2022.
Correctly completed application forms must be received by Arctic Securities AS (the “Manager”) before the end of the application period. The allocation rights (“Allocation Rights”) that are not used to apply for offer shares in the Subsequent Offering before the expiry of the application period will expire and have no value.
If the market price of the Company’s shares exceed the Offer Price, the Allocation Rights will have financial value. If the market price of the Company’s shares is below the Offer Price, the Allocation Rights will not have financial value because it will be possible to buy shares in the market at lower prices than the Offer Price, subject to sufficient volume of shares being available for purchase.
For further information about the Subsequent Offering, please refer to the prospectus dated 3 October 2022 (the “Prospectus”). The Prospectus, including the application form in the Subsequent Offering, is available electronically at the Manager’s website: https://www.arctic.com/secno/en/offerings.
For further information, please contact:
Terje Bodin Larsen, CEO
+47 905 35 543
tbl@ads.no
Dagfinn Andersen, CFO
+47 922 91 001
dagfinn.andersen@ads.no
About ADS Maritime Holding Plc
ADS Maritime Holding Plc is a public limited company listed on the Euronext Growth at the Oslo Stock Exchange (ticker ADS). The Company is incorporated and domiciled in Cyprus and has Norwegian subsidiaries based in Arendal, Norway. For more information, visit www.adsmh.com
Important information
This release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan Hong Kong or the United States (including its territories and possessions, any state of the United States and the District of Columbia). This release is an announcement issued pursuant to legal information obligations and is subject to the disclosure requirements of section 5-12 of the Norwegian Securities Trading Act. It is issued for information purposes only and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “US Securities Act”). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the US Securities Act. The Company does not intend to register any portion of any offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this announcement are not being made and may not be distributed or sent into Australia, Canada, Japan or the United States.
The issue, subscription or purchase of shares in the Company is subject to specific legal or regulatory restrictions in certain jurisdictions. Neither the Company nor the Manager assume any responsibility in the event there is a violation by any person of such restrictions. The distribution of this release may in certain jurisdictions be restricted by law. Persons into whose possession this release comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.
The Manager is acting for the Company and no one else in connection with the Private Placement in the Company, and will not be responsible to anyone other than the Company providing the protections afforded to its clients or for providing advice in relation to the Private Placement and/or any other matter referred to in this release.