Reach Subsea ASA: Commencement of the subscription period in the Subsequent
Offering
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN
AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S
REPUBLIC OF CHINA, SOUTH AFRICA, NEW ZEALAND, JAPAN, THE UNITED STATES, THE
UNITED KINGDOM OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR
DISTRIBUTION WOULD BE UNLAWFUL.
Haugesund, 14 March 2023: Reference is made to the stock exchange notice
published by Reach Subsea ASA ("Reach" or the "Company") (Oslo Børs: REACH) on
12 March 2023 regarding the commencement of a subsequent offering (the
"Subsequent Offering") and registration of a national prospectus dated 10 March
2023 (the "Prospectus").
The subscription period in the Subsequent Offering commences today, on 14 March
2023 and ends on 27 March 2023 at 16:30 hours (CET).
The Subsequent Offering is directed towards shareholders of the Company as of 15
February 2023 (as registered with the VPS on 17 February 2022) (the "Record
Date") who (i) were not included in the wall-crossing phase of the Private
Placement, (ii) were not allocated shares in the Private Placement, and (iii)
who are not resident in a jurisdiction where such offering would be unlawful or
(for jurisdictions other than Norway) would require any prospectus, filing,
registration or similar action) ("Eligible Shareholders").
Each Eligible Shareholder will receive 0.03 non-tradeable Subscription Rights
for each share held by such Eligible Shareholder in the Company as of the Record
Date, rounded down to the nearest whole right. Each Subscription Right will,
subject to applicable securities laws, give the preferential right to subscribe
for, and be allocated, one Offer Share in the Subsequent Offering.
Over-subscription by Eligible Shareholders will be permitted