Reach Subsea (REACH)

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Notice of extraordinary general meeting

Reach Subsea – notice of extraordinary general meeting

With reference to announcements on 17 February 2022 relating to acquisition of iSurvey and equity investment by Wilhelmsen New Energy AS, an extraordinary general meeting of Reach Subsea ASA will be held on 15 March 2022 at 10:00, at Reach Subsea’s headquarters at Garpaskjærvegen 2, Haugesund, Norway. The notice for the extraordinary general meeting, including registration and proxy forms, is attached hereto.
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For more information, please contact:

Jostein Alendal, CEO
Birgitte Wendelbo Johansen, CFO/IR

About Reach Subsea:
Reach Subsea ASA Group offers subsea services as a subcontractor and/or directly to end clients, based out of our head office in Haugesund. The core business of the Group is based on modern, high spec Work ROVs operated by highly-qualified offshore personnel, and supported by onshore engineering resources. The Group’s objective is to be a preferred subsea partner and full-service provider of subsea operations for clients, focusing on safety, environment, financial solidity and profitability.

Kilde

[marrot18]

Er det ikke bare å fylle på med begge hender på fallet idag? Høy oljepris mixet med et Europa som vil bort fra avhengigheten til Ruslands energi og satse på vindkraftutbyggelse må vell være en god cocktail for Reach?

[Graastein]

Jepp, tenker slik selv, og har kjøpt. Det meste annet av oilservice stiger.

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Contract award in the North Sea renewable energy market

Reach Subsea: Contract award in the North Sea renewable energy market

Haugesund, 09 March 2022: Reach Subsea ASA (“Reach”), a provider of subsea services globally, has been awarded a contract in the North Sea for start up early in Q2 2022, representing about 80 project days.
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The project involves the support of an offshore wind farm located in the North Sea and will be performed by the Olympic Challenger spread.
This contract award, other recent smaller contract awards, and tendering activity all point towards good utilisation of our assets and resources in this year’s summer season.

“This contract with a new customer is an important milestone in the development of our renewable energy segment. Our ability to deliver quality solutions with short timelines has been the key contributing factor in winning this contract. We also see great potential to deliver a wider range of our services to this new client,” said Jostein Alendal, CEO of Reach Subsea.
Olympic Challenger is a DP2 IMR and light construction subsea vessel on a charter with Reach Subsea since April 2018.

For further information, please contact:
Birgitte Wendelbo Johansen, CFO of Reach Subsea ASA, bwj@reachsubsea.no

About Reach Subsea:
The Reach Subsea ASA Group’s business concept is to offer subsea services as subcontractor and/or directly to end clients, based out of our head office in Haugesund. The core business of the Group is based on modern, high spec Work ROVs operated by highly-qualified offshore personnel, and supported by onshore engineering resources. The Group’s objective is to be a preferred subsea partner and full-service provider of subsea operations for clients, among others by having focus on safety, environment, financial solidity and profitability.
www.reachsubsea.no

Kilde

[Saksa]

Ny kunde er alltid bra, tydelig at konseptet til Reach er godt og salgbart ;). Blir meget bra dette

[Christian]

Reach Subsea har holdt seg svært godt hittil i krisen. Skulle til å sjekke hvordan det hadde gått med Reach Subsea opp mot OSEBX, men forrige aksje sammenlignet jeg med oljen… Svært mye korrelasjon her.

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Extraordinary general meeting held

Extraordinary general meeting held
Pursuant to notice of 22 February 2022, an extraordinary general meeting of Reach Subsea ASA was held today, 15 March 2022. The main purpose of the extraordinary general meeting was to approve issuance of consideration shares under the iSurvey acquisition and issuance of shares and warrants to Wilhelmsen New Energy AS in a directed private placement, as announced on 17 February 2022.

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All the proposed resolutions set out in the notice of the extraordinary general meeting were adopted in accordance with the board’s proposals. Completion of the iSurvey acquisition and the private placement is expected to occur within end of March 2022.

The minutes from the extraordinary general meeting are attached hereto and will also be made available on the company’s webpage.

For more information, please contact:

Jostein Alendal, CEO
Birgitte Wendelbo Johansen, CFO/IR

About Reach Subsea:
Reach Subsea ASA Group offers subsea services as a subcontractor and/or directly to end clients, based out of our head office in Haugesund. The core business of the Group is based on modern, high spec Work ROVs operated by highly-qualified offshore personnel, and supported by onshore engineering resources. The Group’s objective is to be a preferred subsea partner and full-service provider of subsea operations for clients, focusing on safety, environment, financial solidity and profitability.

Kilde

[Christian]

Godt å se at alt ser ut til å gå etter planen. Jeg blir egentlig litt overrasket hvis ikke dette ender opp med at Wilhelmsen New Energy AS bruker opsjonene de får på 4kr for å øke eierandelen sin. Enten når Reach Subsea trenger penger for neste fase, eller rett før utløp.

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Operational figures

Operational figures

Reach Subsea ASA (“Reach”) releases monthly operating figures on or before the 15th day following a month end. Please find attached the company’s monthly operating figures for February 2022.
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For further information, please contact:
Birgitte Wendelbo Johansen (CFO)
www.reachsubsea.no

Kilde

[Christian]

Så langt i år 89% mer ROV days sold enn i fjor
Offshore personell ca likt som i fjor
Vessel days opp 34% fra i fjor

Q1 tall fra de to foregående årene:

EPS for Q1 i fjor var på 8 øre / aksjen. Utfra hvordan de skalerte fra Q1 2020 til Q1 2021, hvor utgiftene ikke gikk så veldig mye opp samtidig som omsetningen økte, så synes jeg det ser ut som vi kan få et knallbra Q1 i år.

Nå blir det garantert endel engangsutgifter for å gjøre oppkjøpene osv, men det har jo helt klart vært et bra opplegg.

[Saksa]

Dette blir meget bra, ja, aktiviteten er mye høyere hittil i mars og stigende…Bull

[Saksa]

REACH SUBSEA: SB1M øker kursmålet til NOK 5,5 (4,5), gjentar kjøp.

[AkuttBistand]

Noen som har tilgang til analysen?

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Reach Subsea – Closing of acquisition of the offshore survey company iSurvey

Reach Subsea – Closing of acquisition of the offshore survey company iSurvey

Haugesund, 22 March 2022: Reference is made to previous announcements by Reach Subsea ASA (“Reach” or the “Company”) on 17 February 2022 regarding the acquisition of the offshore survey company iSurvey for NOK 135 million, as well as the resolution made by the Company’s extraordinary general meeting held on 15 March 2022 approving the related share capital increase by issuance of consideration shares.
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The parties have today initiated closing of the acquisition, and has as part thereof completed the subscription of and payment (in kind through set-off) for the 33,846,153 consideration shares to be issued. The only remaining step of the acquisition is now registration of the share capital increase with the Norwegian Register of Business Enterprises (Nw.: Foretaksregisteret). Following such registration, the new share capital of the Company will be NOK 178,786,861, divided into 178,786,861 shares, each with a nominal value of NOK 1.

For further details, see announcement of 17 February 2022 available on www.newsweb.no.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

For more information, please contact:

Jostein Alendal, CEO
Birgitte Wendelbo Johansen, CFO/IR

About Reach Subsea:
Reach Subsea ASA Group offers subsea services as a subcontractor and/or directly to end clients, based out of our head office in Haugesund. The core business of the Group is based on modern, high spec Work ROVs operated by highly-qualified offshore personnel, and supported by onshore engineering resources. The Group’s objective is to be a preferred subsea partner and full-service provider of subsea operations for clients, focusing on safety, environment, financial solidity and profitability.

Kilde

[TekBot]

Reach Subsea – Issuance of shares to iSurvey Holding AS - new share capital registered

Reach Subsea – Issuance of shares to iSurvey Holding AS - new share capital registered

Haugesund, 23 March 2022: Reference is made to the announcement made by Reach Subsea ASA (“Reach” or the “Company”) on 22 March 2022 regarding the closing of the acquisition of iSurvey.
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The share capital increase pertaining to the issuance of 33,846,153 consideration shares has today been registered with the Norwegian Register of Business Enterprises (Nw.: Foretaksregisteret). The Company’s new share capital is NOK 178,786,861, divided into 178,786,861 shares, each with a nominal value of NOK 1.

The consideration shares will be placed on separate ISIN (being ISIN NO0012478421) and will hence not be tradeable on Oslo Børs until the Company publishes a prospectus, which have been approved by the Norwegian Financial Supervisory Authority.

For further details, see the announcement of 17 February 2022.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

For more information, please contact:

Jostein Alendal, CEO
Birgitte Wendelbo Johansen, CFO/IR

About Reach Subsea:
Reach Subsea ASA Group offers subsea services as a subcontractor and/or directly to end clients, based out of our head office in Haugesund. The core business of the Group is based on modern, high spec Work ROVs operated by highly-qualified offshore personnel, and supported by onshore engineering resources. The Group’s objective is to be a preferred subsea partner and full-service provider of subsea operations for clients, focusing on safety, environment, financial solidity and profitability.

Kilde

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REACH SUBSEA ASA – SHAREHOLDING DISCLOSURE

REACH SUBSEA ASA – SHAREHOLDING DISCLOSURE
Reference is made to announcement by Reach Subsea ASA (“Reach Subsea” or the Company") on 23 and 25 March 2022 concerning completion of issuances of new shares in Reach Subsea ASA to iSurvey Holding AS and Wilhelmsen New Energy AS.

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As a consequence of these issuances, North Energy ASA’s holding of 46 126 567 shares in Reach Subsea now constitutes 20.51% of the issued shares and votes in Reach Subsea.

This announcement is made pursuant to section 4-2 of the Norwegian Securities Trading Act.

Kilde

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Reach Subsea – Issuance of shares and warrants to Wilhelmsen New Energy AS - new share capital registered

Reach Subsea – Issuance of shares and warrants to Wilhelmsen New Energy AS - new share capital registered

Haugesund, 25 March 2022: Reference is made to previous announcement made by Reach Subsea ASA (“Reach” or the “Company”) on 17 February 2022, and the resolutions made by the Company’s extraordinary general meeting held on 15 March 2022 regarding issuance of new shares and warrants to Wilhelmsen New Energy AS.
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The share capital increase pertaining to the issuance of 46,126,567 new shares and the issuance of 44,766,864 warrants have today been registered with the Norwegian Register of Business Enterprises (Nw.: Foretaksregisteret). The Company’s new share capital is NOK 224,913,428, divided into 224,913,428 shares, each with a nominal value of NOK 1.

These new shares will be placed on separate ISIN (being ISIN NO0012478421) and will hence not be tradeable on Oslo Børs until the Company publishes a prospectus, which have been approved by the Norwegian Financial Supervisory Authority. The warrants will also be placed on separate ISIN (being ISIN NO0012478439).

For further details on the private placement, see announcement of 17 February 2022.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

For more information, please contact:

Jostein Alendal, CEO
Birgitte Wendelbo Johansen, CFO/IR

About Reach Subsea:
Reach Subsea ASA Group offers subsea services as a subcontractor and/or directly to end clients, based out of our head office in Haugesund. The core business of the Group is based on modern, high spec Work ROVs operated by highly-qualified offshore personnel, and supported by onshore engineering resources. The Group’s objective is to be a preferred subsea partner and full-service provider of subsea operations for clients, focusing on safety, environment, financial solidity and profitability.

Kilde

[TekBot]

Flaggemelding Reach Subsea ASA

Sober AS eier i dag, 25.03.2022, 10.963.446 aksjer i Reach Subsea ASA. Etter den nylige registrerte kapitalforhøyelsen går eierandelen ned fra 7,564% til en eierandel på 4,875%.
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Kilde

[Saksa]

– Veksthistorien spiller seg ut nå

[Christian]

Må si at Reach Subsea er MVP-en i porteføljen for tiden

Meglerhuset Fearnley Securities oppjusterer kursmålet på Reach Subsea, som blant annet driver med undersøkelser med undervannsfartøy, til 5,5 kroner per aksje, fra tidligere 3,8 kroner per aksje og opprettholder kjøpsanbefaling.

Det fremkommer av en analyse publisert tirsdag.

Siden Fearnley sist gjorde en analyse på Reach Subsea har selskapet kjøpt opp Octio og iSurvey og sikret finansiering for Remote-prosjektet.

«Med forbedrede interne tjenester og sikret finansiering materialiseres nå Reachs veksthistorie», skriver meglerhuset.

Reach Subsea-aksjen stiger tirsdag formiddag 4,45 prosent til kurs 3,99 kroner. Selskapet har en markedsverdi på 897 millioner kroner.

Ref: Jekker opp Reach Subsea-kursmålet - E24 Aksjelive