Thursday, June 19, 2008
Reference is made to the announcement published June 11, 2008 regarding private placement.
The shares issued have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the `U.S. Securities Act`), or any state securities laws, and were offered within the United States only to qualified institutional buyers (`QIB`), as defined in Rule 144A under the U.S. Securities Act (`Rule 144A`), through affiliates of the Joint Lead Managers, in reliance upon the exemption from the registration requirements provided by section 4(2) of the U.S. Securities Act Rule 144A, and to certain non-U.S. persons in offshore transactions in reliance on Regulation S under the U.S. Securities Act. The shares issued are subject to certain restrictions on transfer. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the shares.
The increase of the share capital of the Company by the issuance of the 17,804,000 new shares issued in the private placement has been registered with the Norwegian Register of Business Enterprises. The total registered share capital of the Company is NOK 39,169,109.20 consisting of 195,845,546 shares, each with par value of NOK 0.20. All shares in the Company carry equal rights.
Sevan Marine ASA
Dated: 19 June 2008
Sevan Marine ASA is listed on Oslo Børs (ticker SEVAN) and is specializing in building, owning and operating floating units for offshore applications. The Company has developed a cylinder shaped floater, suitable in all offshore environments. Presently Sevan Marine has four floating production, storage and offloading units (FPSOs) and three drilling units contracted to clients. The Company is also developing other application types for its cylindrical Sevan hull, including floating LNG production and power plants with CO2 capture.
For more information, please refer to www.sevanmarine.com.
Jan Erik Tveteraas, CEO Sevan Marine ASA (Media)
+47 37404000 office
+47 95214925 mobile
Egil Kvannli, CFO Sevan Marine ASA (Analysts)
+65 96830133 mobile