Songa Offshore SE : Adjustment to awarded synth...

Reference is made to previously announced synthetic share option awards, to the private placement announced 25 November 2013 and to the subsequent offering announced 25 February 2014.

Awarded synthetic share options have, with effect as per today, been adjusted in accordance to the "General Rules for Derivative Contracts" published by Oslo Stock Exchange.

Following the adjustments, the CEO, Mr. Bjørnar Iversen, now holds 1,625,149 stock appreciation rights (each a "Right"). Each Right gives the holder a right to receive, upon exercise, a cash compensation equal the quoted share price of the shares in Songa Offshore SE, less the strike price. The strike price has been adjusted to NOK 3.51. Mr. Iversen also holds 1,415,000 shares in the company.

CFO, Jan Rune Steinsland, holds 812,575 Rights after the adjustment. The strike price has been adjusted to NOK 3.726. Mr. Steinsland also holds 580,000 shares in the company.

Limassol, Cyprus
4 June, 2014

 

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Songa Offshore SE via Globenewswire

HUG#1790384