SeaBird Exploration: New share capital




SeaBird Exploration: New share capital

With reference to the EGM held on 2 October 2017 and previous announcements regarding the private placement of class A shares, the share capital increase reflecting the issue of 1 billion new Class A shares in the private placement has now been registered with the Cyprus Registrar of Companies. The shares will be delivered to the subscribers in the private placement shortly. The new issued share capital is US$6,745,514.50, consisting of 57,455,145 ordinary shares with par value of US$ 0.1 and 1,000,000,000 Class A shares with par value of US$ 0.001.

The Class A shares will be delivered on a separate ISIN, and will not be tradeable on Oslo Stock Exchange until approval of a listing prospectus and the effective completion of the reduction of the Company’s share capital through the reduction of the nominal value of its ordinary shares from USD 0.1 to USD 0.001, as proposed resolved by the extraordinary general meeting to be held on 23 October 2017. The ordinary shares and the Class A shares have the same rights related to voting and dividends, and will be sought merged based on a 1 to 1 ratio following the share capital reduction.


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