Disclosure of shares and rights to shares in Element ASA (“Element”) (flagging)
Reference is made to the announcement disclosed on 10 June 2018 and the further
details provided therein.
European High Growth Opportunities Securitization Fund represented by European
High Growth Opportunities Securitization Fund Manco SA (“EHGO”) has on 27 June
2018 converted bonds in the amount of NOK 16,100,000 against the issuance of
5,750,000 new shares of Element.
After the transaction EHGO owns (i) 6,506,931 shares in Element, equal to 7.98%
of the share capital after registration of the new shares (the “New registered
share capital”), (ii) 31,000,000 outstanding convertible bonds convertible into
11,071,429 new shares in Element (at the time of issuance, but adjustable if the
conversion price is adjusted at the time of conversion), equal to 13.58 % of the
New Registered Share Capital and (iii) 13,333,333 warrants giving the right
13,333,333 new shares in Element, equal to 16.36 % of the New registered share
capital.
EHGO’s total holding of shares and rights to shares (through convertible bonds
and warrants to shares) make up 37.92% % of the New registered share capital.
EHGO is a fund managed by Alpha Blue Ocean Inc. (“ABO”). ABO owns 6,187,350
warrants in Element giving the right to 6,187,350 new shares in Element, equal
to 7.59% of the New registered share capital.
ABO’s total holding of shares and rights to shares on a consolidated basis,
based on convertible bonds and warrants make up 37,099,043 shares and votes,
equal to 48.11% of the New registered share capital.
The disclosure regulation (flaggereglene) requires that the disclosure
thresholds regarding rights to shares (i.e. notes and warrants) are calculated
on the basis of registered share capital of the issuer at the time of disclosure
and do not give the correct view taking into account the situation at the time
of conversion/exercise of rights to shares. On a fully diluted basis, taking
into account all share issuances pursuant to convertible bonds and warrants,
ABO’s consolidated holding of shares and rights to shares will amount to 33.09%
of the share capital of Element.
**
About Alpha Blue Ocean Inc.
Alpha Blue Ocean Inc. is an international business company incorporated under
the laws of the Republic of Seychelles, represented by Mr. Pierre Vannineuse.
Mr. Pierre Vannineuse is the sole shareholder and sole Director of Alpha Blue
Ocean Inc. Alpha Blue Ocean Inc. is a member of the Blue Ocean Investment Group.
Alpha Blue Ocean Inc. was created by Pierre Vannineuse and manages an asset
portfolio of around 300 million dollars for a group of funds. Blue Ocean
specializes in providing flexible, innovating and non-invasive debt and capital
financing arrangements to listed companies throughout the world and in various
sectors such as healthcare, energy, mining and high tech. Alpha Blue Ocean Inc.
has offices in London and Geneva.
Ekstern link: http://www.newsweb.no/index.jsp?messageId=454677
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