NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION INTO OR IN THE UNITED STATES, CANADA, JAPAN OR AUSTRALIA, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO SUBSCRIBE OR PURCHASE ANY OF THE SECURITIES DESCRIBED HEREIN
Subsequent Offering – Preliminary result
Reference is made to the previous announcements by Archer Limited (the “Company”) regarding the subsequent offering of up to 16,800,000 new shares in the Company (the “Subsequent Offering”).
The Company hereby announces the preliminary results of the Subsequent Offering. The subscription period in the Subsequent Offering expired at 16:30 hours (CET) on 19 April 2017. The preliminary results show that a total of 6,205,552 new shares were subscribed for.
Allocation will be made based on the allocation criteria set out in the prospectus dated 31 March 2017. All subscribers being allocated shares will receive an allocation letter confirming the number of shares allocated to the subscriber and the corresponding amount to be paid. This allocation letter is expected to be distributed on or about 20 April 2017. Payment will fall due on or about 24 April 2017 and delivery of the Offer Shares is expected to take place on or about 27 April 2017.
ABG Sundal Collier ASA and Arctic Securities AS (collectively the “Managers”) are acting as Joint Lead Managers and Bookrunners for the Subsequent Offering. Advokatfirmaet BA-HR DA is acting as legal advisor to the Company in connection with the Subsequent Offering.
For further information, please contact:
Joachim Houeland, Corporate Treasurer and Investor Relations
+ 47 51 30 81 75
joachim.houeland@archerwell.com
Important information:
The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia) or any other jurisdiction in which the release, publication or distribution would be unlawful. This release is an announcement issued pursuant to legal information obligations, and is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “US Securities Act”). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the US Securities Act. The Company does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this announcement are not being made and may not be distributed or sent into Australia, Canada, Japan or the United States or any other jurisdiction in which such distribution would be unlawful or would require registration or other measures. The issue, exercise, purchase or sale of subscription rights and the subscription or purchase of shares in the Company are subject to specific legal or regulatory restrictions in certain jurisdictions. Neither the Company nor the Managers assumes any responsibility in the event there is a violation by any person of such restrictions. The distribution of this release may in certain jurisdictions be restricted by law. Persons into whose possession this release comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. The Managers are acting for the Company and no one else in connection with the Subsequent Offering and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients or for providing advice in relation to the Subsequent Offering and/or any other matter referred to in this release.
Forward-looking statements:
This release and any materials distributed in connection with this release may contain certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect the Company’s current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.