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SeaBird Exploration Plc: completion of acquisition of BOA Thalassa and issue of consideration shares

By GlobeNewswire,  June 13, 2019, 10:27:00 AM EDT


13 June 2019, Limassol, Cyprus

Reference is made to previous stock exchange notices of 11 April 2019, 12 April 2019, 29 April 2019 and 24 May 2019 regarding the acquisition by SeaBird Exploration PLC (the "Company") of BOA Thalassa and BOA Galatea.

The Company has today completed the acquisition of BOA Thalassa for a purchase price of NOK 92,500,000. NOK 64,833,553 has been paid in cash, and NOK 27,666,447 has been paid in the form of 23,055,373 new shares of the Company. The new shares will be delivered on ISIN CY0108430915 and will be transferred to the ordinary ISIN CY0101162119 and listed on Oslo Børs upon approval of a prospectus, estimated in June 2019.

Following issue of the new consideration shares, the Company has 515,876,015 shares outstanding, each of par value USD 0.01.  

The completion of acquisition of BOA Galatea is in progress and will complete later, expected in July/August 2019.



SeaBird is a global provider of marine acquisition for 2D/3D and 4D seismic data, and associated products and services to the oil and gas industry. SeaBird specializes in high quality operations within the high end of the source vessel and 2D market, as well as in the shallow/deep water 2D/3D and 4D market. Main focus for the company is proprietary seismic surveys (contract seismic). Main success criteria for the company are an unrelenting focus on Quality, Health, Safety and Environment (QHSE), combined with efficient collection of high quality seismic data. All statements in this press release other than statements of historical fact are forward-looking statements and are subject to a number of risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include SeaBird`s reliance on a cyclical industry and the utilization of the company's vessels. Actual results may differ substantially from those expected or projected in the forward-looking statements. This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

  



For further information, please contact:



Hans Petter Klohs

CEO SeaBird Exploration

Phone: +47 22 40 27 18   





Nils Haugestad

CFO SeaBird Exploration

Phone: +47 22 40 27 17   





This announcement is distributed by West Corporation on behalf of West Corporation clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: SeaBird Exploration Plc via Globenewswire



This article appears in: News Headlines

Referenced Stocks: SBX










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