NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.
29 March 2022 – Hamilton, Bermuda
Reference is made to the stock exchange announcement by Northern Ocean Ltd (“NOL” or the “Company”) on 10 March 2022 and 14 March 2022 regarding the approval and publication of a prospectus (the “Prospectus”) and commencement of the subscription period in the subsequent offering of up to 8,000,000 existing shares of the Company (the “Subsequent Offer Shares”) at an subscription price of NOK 4.45 per Subsequent Offer Share (the “Subsequent Offering”).
The subscription period for the Subsequent Offering expired on 28 March 2022 at 16:30 (CEST). The final number of subscriptions received by the Company in the Subsequent Offering is 6,796,378. A total of 6,796,378 Notifications of allocated Subsequent Offer Shares and the corresponding subscription amount to be paid by each subscriber in the Subsequent Offering will be distributed today, 29 March 2022.
The due date for payment of allocated Subsequent Offer Shares is 31 March 2022.
For further information about the Subsequent Offering, please see the Prospectus dated 10 March 2022. The Prospectus, including the subscription form in the Subsequent Offering is available electronically on the following website:
https://www.northernocean.no/prospectus/
This information is published in accordance with the requirements of the Continuing Obligations.