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Name | Symbol | Market | Type |
---|---|---|---|
iShares Mortgage Real Estate ETF | AMEX:REM | AMEX | Exchange Traded Fund |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.16 | 0.67% | 24.15 | 24.245 | 23.86 | 23.89 | 815,257 | 00:23:19 |
Fosnavåg, 10 October 2016
Reference is made to the stock exchange announcement of 9 September 2016 regarding the signed merger plan and notices of extraordinary general meetings in Solstad Offshore ASA and Rem Offshore ASA ("REM" or the "Company") as well as the stock exchange announcement released by the Company on 27 June 2016 with detailed information on the proposed financial restructuring of REM.
The extraordinary general meeting in the Company has been held today. Please find the minutes from the meeting attached.
All proposals on the agenda were adopted, including approval of the merger plan regarding the merger of the Company with Solship Invest 1 AS, a wholly owned subsidiary of Solstad Offshore ASA, with Solship Invest 1 AS being the surviving entity, against issuance of consideration shares in Solstad Offshore ASA (the "Merger"). The proposal for a share capital reduction and the proposals for private placements directed towards (i) Forsa AS, a company controlled by Åge Remøy, (ii) the bondholders in REM04 PRO and REM05 and (iii) Vard Group AS were also adopted.
The extraordinary general meetings in Solstad Offshore ASA and Solship Invest 1 AS have also approved the merger plan today. It is expected that the Merger will become effective on or about 24 November 2016, subject to timely satisfaction of conditions precedent for completion.
All documentation pertaining to the extraordinary general meeting, including the minutes of meeting in both Norwegian and English is available on the Company's website www.rem-offshore.no.
For further information, please contact:
Åge Remøy
+47 905 91 292
Ola Beinnes Fosse
+47 975 31 227
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