Notification pursuant to section 6-8 of the Norwegian Securities Trading Act NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA , CANADA , JAPAN OR THE UNITED STATES On 25 November 2013 Songa Offshore SE (the "Company") announced a proposal for a comprehensive refinancing by way of raising up to USD 425 million in new capital. The new capital will be raised by way of a combination of (i) an equity issue through a private placement with gross proceeds of approximately USD 250 million (the "Private Placement") and a contemplated subsequent repair offering with expected gross proceeds of approximately USD 25 million (the "Subsequent Offering") and (ii) issue of a subordinated convertible bond (the "Convertible Bond") through a private placement of bonds with gross proceeds in the amount of USD 150 million (the "Convertible Bond Issue"). Perestroika AS and certain others of the Company`s shareholders have guaranteed the Private Placement in full at a fixed price of NOK 2.50 per share. The Private Placement and the Convertible Bond Issue have been fully subscribed , and Perestroika AS subscribed for shares securing Perestroika AS and related parties at least a 50,1 % ownership in the Company. Out of the shares to be issued to Perestroika AS in the Private Placement, 132,287,456 shares have been issued today pursuant to an existing board authorization according to the refinancing plan. Until today Perestroika AS and related parties owned 60,292,194 shares in the Company, corresponding to an ownership of 29,7 %. Todays issue of the above mentioned 132,287,456 shares will bring Perestroika AS alone to an ownership of 185,220,650 shares , or 55,26 % of the new total number of shares. Including related parties the ownership is 191,995,650 shares ,corresponding to 57,28 %. The issue of shares to Perestroika AS thus triggers a mandatory offer pursuant to section 6-1 of the Norwegian Securities Trading Act. Perestroika AS will submit such an offer. For further information on the proposed refinancing plan we refer to the announcements made by the Company on November 25th 2013. Bergen, December 17th 2013 Perestroika AS Tom A. Torkildsen chairman Click here for more information: http://www.newsweb.no/index.jsp?messageId=342343
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