Today, Oppstartsfase I ASA (to be renamed Wilh. Wilhelmsen ASA – WW ASA) announced the successful completion of its initial Global Offering.
The Board of Directors of WW ASA has resolved to issue 60,000,000 Offer Shares at a price of NOK 24.20. Gross proceeds from the Global Offering amount to NOK 1 452 million. The price of NOK 24.20 per share corresponds to a market value for the Company of approximately NOK 5 324 million after the Global Offering.
“The Board of WW ASA is pleased with the market’s confidence in the Company’s ability to create value for its shareholders,” states Thomas Wilhelmsen, chair of the Board of WW ASA. “With the proposed restructuring we are creating the only listed pure play car/ro-ro and logistics company in the world. The Global Offering gives WW ASA necessary strength, enabling us to act on opportunities arising within sea transportation of rolling cargo and integrated logistics services. The Company is now well positioned for future growth,” says Wilhelmsen.
About 95% (approximately 57 million Offer Shares) of the total number of Offer Shares was allotted to institutional investors, and roughly 5 % (approximately 3 million Offer Shares) was allotted to retail investors in Norway.
“The total number of shareholders will be more than 2 400. The free float is above the listing requirements, and in line with our ambitions,” says Wilhelmsen.
It is assumed that the restructuring will be completed on 22 June 2010, and trading in the WW ASA shares is expected on the Oslo Stock Exchange on or about the 24 June 2010.
For additional information, please refer to the stock exchange notice published 16 June 2010.
For further information, please contact:
Thomas Wilhelmsen, chair of WW ASA, tel +47 67 58 48 27
Jan Eyvin Wang, president and CEO of WW ASA, tel +47 67 58 47 05
Mitra H Negård, investor relations WW ASA, tel +47 67 58 40 00 or mobile +47 95 79 36 31
Oppstartsfase I ASA (to be renamed Wilh. Wilhelmsen ASA upon completion of the restructuring) offers a comprehensive global network of ocean transportation and integrated logistics services for car and ro-ro cargo. WW is the only listed pure play car and ro-ro transportation and logistics company in the world, aiming at being a vehicle for further growth through further consolidation in the car and ro-ro transportation and logistics markets. Through its joint ventures, WW will manifest its position as the world leading operator within this niche, continue to expand its services in emerging markets and explore further synergies between the operating companies in the group. For more, please visit www.wilhelmsenasa.com
Important Notice
The contents of this announcement have been prepared by and are the sole responsibility of the Company. The Joint Global Co-ordinators and Bookrunners and the Joint Lead Managers and Co-Bookrunners are acting exclusively for the Company and no one else and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients, or for advice in relation to the contemplated Global Offering, the contents of this announcement or any of the matters referred to herein.
The Global Offering and the distribution of this announcement and other information in connection with the Global Offering may be restricted by law in certain jurisdictions. The Company assumes no responsibility in the event there is a violation by any person of such restrictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions. This announcement may not be used for, or in connection with, and does not constitute, any offer of securities for sale in the United States or in any other 0jurisdiction. The Global Offering will not be made in any jurisdiction or in any circumstances in which such offer or solicitation would be unlawful.
This announcement is not for distribution, directly or indirectly in or into any jurisdiction in which it is unlawful to make any such offer or solicitation to such person or where prior registration or approval is required for that purpose. No steps have been taken or will be taken relating to the Global Offering in any jurisdiction outside of Norway in which such steps would be required. Neither the publication and/or delivery of this announcement shall under any circumstances imply that there has been no change in the affairs of the Company or that the information contained herein is correct as of any date subsequent to the earlier of the date hereof and any earlier specified date with respect to such information.
Securities may not be offered or sold in the United States absent registration or an exemption from registration. The Offer Shares offered in the Global Offering have not been and will not be registered under the United States Securities Act of 1933, as amended (the “US Securities Act”) or with any securities regulatory authority of any state or other jurisdiction of the United States, and may not be offered or sold within the United States, except in transactions exempt from registration under the US Securities Act, or in any other jurisdiction in which it would not be permissible to offer or sell such Offer Shares. All offers and sales outside the United States will be made in reliance on Regulation S under the US Securities Act.
This document does not constitute an offering circular or prospectus in connection with an offering of securities of the Company. Investors must neither accept any offer for, nor acquire, any securities to which this document refers, unless they do so on the basis of the information contained in the prospectus to be published by the Company. This document does not constitute an offer to sell, or the solicitation of an offer to buy or subscribe for, any securities and cannot be relied on for any investment contract or decision.