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 11
October 2018 sold in total 114 365 shares in Element in market transactions.
EHGO has furthermore on 11 October 2018 sold 900 000 shares in Element as a
block sale.After the transactions EHGO holds (i) 4,170,590 shares in Element, equal to 4.14
% of the registered share capital (the “Registered Share Capital”), 43 000 000
convertible notes convertible to 25 294 118 shares in Element (as at today’s
conversion price, but adjustable if the conversion price is adjusted at the time
of conversion), equal to 25.14% of the Registered Share Capital and (ii)
17,681,159 warrants giving the right to 17,681,159 new shares in Element, equal
to 17.57 % of the Registered Share Capital.Following the transactions, EHGO’s total holding of shares and rights to shares
(through convertible notes and warrants to shares) make up 47 145 867 shares and
votes, equal to 46.85 % of the 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 6.15 % of the Registered Share Capital. Furthermore, ABO has an obligation to
redeliver 5,750,000 borrowed shares in Element pursuant to a loan agreement with
Paschi International Limited and the White November Fund.ABO’s total holding of shares and rights to shares (based on convertible notes
and warrants) on a consolidated basis, make up 53 333 217 shares and votes,
equal to 52.99 % of the 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 44.97%
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=461164
Nyheten er levert av OBI.
http://www.netfonds.no/quotes/release.php?id=20181012.OBI.20181012S17