Reference is made to the stock alternate secret agent dated thirteen May well well 2019 where Aqualis ASA (the 'Firm') and Braemar Shipping Products and services plc ('Braemar') announced an agreement wiring the firm would get three enterprise lines (Adjusting, Marine and Offshore, jointly 'BTS') from Braemar representing the broad majority of the Braemar Technical Products and services division (the 'Transaction'). The Firm hereby announces that each and each stipulations for completion of the Transaction were fulfilled, and that the Transaction has been completed. As resolved by the annual frequent meeting of the Firm held on eleven June 2019 (the 'AGM'), the Firm's name is AqualisBraemar ASA ('AqualisBraemar') with close from currently. Thru this transaction, clients of AqualisBraemar can luxuriate in the benefit of entry to contemporary capabilities, greater suite of products and services, bigger team of workers and increased geographical footprint to enable even faster operational make stronger at or in shut proximity to their offices and assets 'I actually luxuriate in heritage forward to for the time being.
Combining our corporations affords us higher severe mass internal the marine and energy markets and manner we are in a position to be significantly better positioned going forward With our higher scale, more sources and our proficient of us, we are in a position to enhance our capability to fulfill our clients' wants globally. Our ambition is to fulfill the rising expectations of our trade globally and to be recognized because the ' Toddle to' advisor of the transport and energy markets.
The work for guaranteeing a successful integration begins now', says David Wells, CEO of AqualisBraemar. With the acquisition of BTS, AqualisBraemar is now represented with 48 offices in 33 worldwide locations across 5 continents.
'We're taking a eye forward to welcoming our highly expert contemporary colleagues. Collectively we are in a Position to work for a instant and soft integration of of us, cultures, products and services and modern work', says Reuben Segal, COO of AqualisBraemar.
As resolved by the AGM, Braemar CEO James Kidwell currently started his time length as member of the Board of Directors of AqualisBraemar. Following completion of the Transaction, Braemar has subscribed for and might might just just dispensed 14,865,621 shares (the 'Consideration Shares') and 5,973,556 efficiency-essentially based exclusively exclusively warrants (the 'Warrants'). The issuance of the Consideration Shares will catch bigger The Firm's allotment capital by NOK 1,486,562.10 to NOK 5,715,886 and is anticipated to be registered within the Firms Registry (Norwegian: Foretaksregisteret) on or about 24 June 2019. Equipped that the prospectus is authorized by the FSA in due time, listing of the Consideration Shares Sign that the Consideration Shares are discipline to a 24-month lock-up agreement as further described within the stock alternate secret agent dated thirteen May well well 2019.
Following This, Braemar will prefer 14,865,621 shares reminiscent of 26% of the shares and balloting rights within the Firm. Assuming beefy vesting of the Warrants, Braemar will prefe r 20,839,177 shares and rights to shares reminiscent of 33% of the shares and votes of the Firm. As further described within the stock alternate notices dated thirteen May well well 2019 and seven June 2019, and as authorized by the AGM on eleven June 2019, the Firm will attain underwritten fairness concerns raising damaging proceeds of roughly USD 6 million. Braemar has dedicated to Subscribe for USD 2 million in a non-public placement,such USD four million will doubtless be raised thru a in point of fact underwritten rights say with preferential rights granted to Aqualis shareholders as of eleven June 2019. Equipped that the prospectus is authorized by the FSA in due time, the subscription length for the Rights Advise will commence on 24 June 2019 or as soon as imaginable after. The subscription tag within the fairness concerns will doubtless be NOK three.
Ninety six per allotment Please consult with the referenced stock alternate notices for further info. Merchants and monetary media Kim Boman, CFO, AqualisBraemar ASA Cellphone: +47 959 sixty three 912 Other media enquiries Endre Johansen, Corporate Communications AS Cellphone: +47 forty one sixty one 06 05 Email: endre.johansen@corpcom.
no About AqualisBraemar ASA AqualisBraemar ASA (OSE: Aqua) is a public listed firm that, thru its subsidiaries and mates, supplies adjusting, marine, offshore and renewables consultancy products and services to the energy, transport and insurance protection industries. The community employs specialist engineers, naval architects , grasp mariners, loss adjusters and technical consultants in 48 offices positioned across 5 continents in 33 worldwide locations. AqualisBraemar ASA operates below three obvious manufacturers globally: AqualisBraemar: a number one adjusting, marine and offshore consultancy to the energy, transport and insurance protection industries AqualisBraemar Yacht Products and services: a specialised marine advisor to the superyacht market Offshore Wind Consultants: an impartial consultancy to the offshore renewables sector Essential secret agent This file is discipline of the disclosure requirements pursuant to share 5-12 of the Norwegian Securities Trading Act and share three.four of the Persevering with Duties for Listed Firms.
This announcement is just not an offer within the marketplace of securities within the United States or another country. The securities referred to herein have not been registered below the US Securities Act of 1933, as amended (the 'U.
S. Securities Act'), and might might just not equipped within the United States absent registration or pursuant to an exemption from registration below the US Securities Act. AqualisBraemar would not intend to register any share of the offering of the securities within The United States or to behavior a public offering of the securities within the United States. Copies of this announcement aren't being made and might maybe just not dispensed or despatched into the United States, Canada, Australia, Japan or another jurisdiction by which Such distribution would be unlawful or would require registration or other measures.
Obvious statements included internal this announcement possess forward-taking a eye files, in conjunction w Ith, with out limitation, these relating to) forecasts, projections and estimates, statements of management's plans, dreams and recommendations for AqualisBraemar, corresponding to planned expansions, investments or other projects, management, as properly as statements preceded by 'expected', ' Scheduled', 'focused', 'planned', 'proposed', 'supposed' or identical statements. Despite the reality of AqualisBraemar believes that the expectations reflected in such forward-taking a eye statements are inexpensive, these forward-taking a eye statements Assorted means might have maybe maybe trigger our staunch results to fluctuate materially from these projected in a forward-taking a eye assertion or have an effect on the Extent to which a explicit projection is realized. No smuggling, please, or revise any forward-taking a eye statements, whether or not as a results of contemporary files, future events or in another case . Related Attachments Fashioned doc Permalink Disclaimer Aqualis ASA published this boom material on 21 June 2019 and is exclusively accountable for the recommendations contained therein.
Allotted by Public, unedited and unaltered, on 21 June 2019 thirteen:09:05 UTC.