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Subsequent to our previous stock exchange announcements on 8 July 2021 and 30 September 2021, regarding the combination of OHT ASA (the “Company”) and the offshore fixed wind business of Subsea 7 (the “Transaction”), we are pleased to announce that the Transaction has been completed today.
Effective from closing of the Transaction:
The Company expects the new shares to be registered with the Norwegian Register of Business Enterprises on 4 October 2021, following which the share capital of the Company will be NOK 43,656,257.50 divided into 436,562,575 shares, each with a nominal value of NOK 0.10.
The Company’s shares will continue to be traded on Euronext Growth. The Company’s name and ticker symbol are in the process of being changed to Seaway 7 ASA and SEAW7 respectively. The name and ticker are expected to change prior to start of trading on 5 October 2021.
The market will be informed when the new shares have been registered with the Norwegian Register of Business Enterprises and the Company will confirm when the first day of trading with the new name and ticker will take place.
Stuart Fitzgerald, incoming CEO of Seaway 7, commented “We are very pleased to reach this milestone and begin operations as the newly combined Seaway 7 Group. The industrial logic of the combination, which strengthens and broadens our offering, whilst adding differentiated assets to a market leading capability and track record, has been well understood by our clients, investors and employees. We look forward to positioning Seaway 7 as one of the market leaders in the delivery of bottom-fixed offshore wind farm solutions, contributing to an efficient and sustainable energy supply for the future.”
For further information, please contact:
Mark Hodgkinson, Chief Financial Officer