Oceanteam Contemplates a Private Placement of Shares

Oceanteam ASA has retained Pareto Securities AS to advise on and effect a private placement of shares directed towards professional and international investors.

The board of directors of Oceanteam has proposed to issue a maximum of 1,384,353 new shares, equal to 10% of the existing share capital of the Company.

The price to be paid for each share will be set through a book-building process to be conducted by the Manager. The indicative price range is proposed to be set from NOK 73 to NOK 78.

The new shares offered in the Private Placement will comprise of already listed shares made available to the Manager by the main shareholder Oceanteam Holding B.V. based on a Stock Lending Agreement entered into by the Manager, the Company and Oceanteam Holding B.V. All shares offered in the Private Placement are tradable subject to resolution by the board of directors. The shares borrowed from Oceanteam Holding B.V. will be returned by issue of new shares subsequent the registration of the share capital increase in the Norwegian Registry of Business Enterprises.

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