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BW Ideol AS – End of stabilization period and partial exercise of greenshoe option

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BW Ideol
·4-min read
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NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

Oslo, 16 April 2021: Reference is made to the stock exchange notice by BW Ideol AS (the “Company”) on 18 March 2021 where the Company announced the beginning of the stabilization period following a private placement of new shares in the Company (the "Private Placement") and admission to trading of the Company's shares on Euronext Growth.

Carnegie AS (the “Stabilization Manager”) has informed the Company that the stabilization period has ended. Stabilization activities have been undertaken between 18 March 2021 and 16 April 2021 (the “Stabilization Period”) and comprise a total of 1,178,418 shares in the Company, purchased at an average price of NOK 46.5490 as further set out in the attached stabilization notification.

In order to permit delivery of 1,595,745 shares in the Company which were borrowed from BW Offshore Holding Pte. Ltd., the Stabilization Manager has in part exercised the greenshoe option and will subscribe for 417,327 new shares in the Company at the offer price of NOK 47.00 per Offer Share. The new shares will together with the shares purchased through stabilization activities be redelivered to BW Offshore Holding Pte. Ltd., in accordance with the terms of the share lending agreement between the parties. Following issuance of the new shares, the number of shares outstanding in the Company will be 31,510,525, each with a par value of NOK 0.1.

For further information, please contact:
Carnegie AS
Stefan Schander Slemdal
Tel: +47 22 00 94 26

This information is subject of the disclosure requirements pursuant to Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 section 6 (3).

Important Notice

This announcement is not and does not form a part of any offer to sell, or a solicitation of an offer to purchase, any securities. The distribution of this announcement and other information may be restricted by law in certain jurisdictions. Copies of this announcement are not being made and may not be distributed or sent into any jurisdiction in which such distribution would be unlawful or would require registration or other measures. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions.

Matters discussed in this announcement may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe", "expect", "anticipate", "strategy", "intends", "estimate", "will", "may", "continue", "should" and
similar expressions. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control.

The information, opinions and forward-looking statements contained in this announcement speak only as at its date, and are subject to change without notice. The Company undertakes no obligation to review, update, confirm, or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this announcement.

This announcement is for information purposes only and is not to be relied upon in substitution for the exercise of independent judgment. It is not intended as investment advice and under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy any securities or a recommendation to buy or sell any securities of the Company. Neither the Company, the Managers nor any of their respective affiliates accepts any liability arising from the use of this announcement.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange release was published by Marie Bayard-Lenoir, Communication Officer at BW Ideol, on April 16, 2021 at 18:40 CET.

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