Dockwise Ltd : Final results of the rights issue

5/31/2012, 10:37 AM (Source: GlobeNewswire)

THIS ANNOUNCEMENT (AND THE INFORMATION CONTAINED HEREIN) OR ANY COPY OF IT IS NOT FOR FORWARDING, RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN.

Breda, the Netherlands, 31 May 2012. Reference is made to the rights issue of Dockwise Ltd. ("Dockwise" or the "Company") with subscription period from 16 May 2012 until 30 May 2012 at 14:00 hours (CET).

In the rights issue, up to 14,047,507 new shares were offered at a subscription price of EUR 14 per share, as further described in the prospectus dated 15 May 2012 (the "Prospectus"). At the end of the subscription period, Dockwise had received valid subscriptions leading to a total allocation of 13,303,699 new shares, representing approximately 94.7% of the new shares offered. Over-subscription and subscription without subscription rights was not permitted. The shares not subscribed for in the rights issue will be allocated to those investors who committed themselves to subscription of remaining shares in the rights issue pursuant to subscription agreements as further described in the Prospectus. In addition, a total of approximately 226,240 new shares are expected to be issued as fee to such investors pursuant to these agreements.

Allocation letters are expected to be sent to the subscribers today. The payment date for the allocated shares is 6 June 2012. For subscribers that have subscribed for new shares on the basis of exercise of subscription rights registered in the Norwegian Central Securities Depository (VPS), the funds must be available in the specific bank account to be debited prior to 6 June 2012. The conversion to the offer price of EUR 14 to NOK has been set based on the EUR/NOK exchange rate according to the European Central Bank at 14:15 (CET) on 30 May 2012. The exchange rate amounted to NOK 7.5145 per EUR 1 and the amount payable is consequently NOK 105.203 per new share.

Subscribers that have subscribed for new shares on the basis of exercise of subscription rights registered in the VPS who are allocated shares for an amount exceeding NOK 5 million or who do not have a Norwegian bank account, must ensure that payment with cleared funds for the shares allocated to them is made on or before the 6 June 2012. Prior to any such payment being made, the subscriber must contact Nordea Bank Norge ASA for further details and instructions.

Subscribers that have subscribed through a financial intermediary for new shares on the basis of exercise of subscription rights registered in Euroclear Nederland should pay the offer price for the new shares in accordance with the instructions received from that financial intermediary.

Delivery of the new shares is, subject to timely payment, expected to take place on or about 6 June 2012.

As of the date hereof and prior to the completion of the rights issue, the Company's issued share capital is USD 126,552,555, consisting of 25,285,511 common shares and 25,000 preference shares, each with a par value of USD 5.00. Each common share carries the right to cast one vote at Dockwise's general meeting of shareholders, whereas the preference shares do not carry voting rights. Following completion of the rights issue, and on basis of the results and assumptions above, Dockwise is expected to have an issued share capital of USD 197,921,290 divided into 39,559,258 common shares and 25,000 preference shares, each with a par value of USD 5.00.

For further information please contact:

Fons van Lith
Email: fons.van.lith@dockwise.com
Tel: +31 (0)6 51 314 952 or +31 (0)76 5484116

Nordea Bank Norge ASA
Email: issuerservices@nordea.com

ABN AMRO Bank N.V.
Email: listing.agency@nl.abnamro.com

About Dockwise Ltd./Dockwise Group:

Dockwise Ltd., a Bermuda incorporated company, has a workforce of more than 1,200 people both offshore and onshore. The company is the leading marine contractor providing total transport services to the offshore, onshore and yachting industries as well as installation services of extremely heavy offshore platforms. The Group is headquartered in Breda, the Netherlands. The Group's main commercial offices are located in the Netherlands, the United States and China with sales offices in Korea, Australia, Brazil, Russia, Singapore, Malaysia, Mexico and Nigeria. The Dockwise Yacht Transport business unit is headquartered in Fort Lauderdale and has an office in Genoa, Italy. The Dockwise Shipping network is supported by a global network of agents.

To support all of its services to customers, the group also has three additional engineering centers in Houston, Breda and Shanghai, manufactures specific motion reduction equipment such as LMU (Leg Mating Units) and DMU (Deck Mating Units) and owns a fleet of 19 purpose built, semi-submersible vessels.

Dockwise shares are listed on Oslo Børs under ticker DOCK and on NYSE Euronext Amsterdam under ticker DOCKW.

For further information: www.dockwise.com

Important notices:

This announcement may not be used for, or in connection with, and does not constitute, an offer of, or the solicitation of an offer to buy or subscribe for, any securities to any person in Australia, Canada, Hong Kong, Japan, or the United States or in any jurisdiction to whom or in which such offer or solicitation is unlawful. The rights issue will not be made in any jurisdiction or in any circumstances in which such offer or solicitation would be unlawful. The securities referred to herein may not be offered, sold, taken up, exercised, resold, renounced, transferred or delivered, directly or indirectly except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act of 1933, as amended (the "Securities Act"), and in compliance with any applicable securities laws of any state or jurisdiction of the United States. Subject to certain exceptions, the securities referred to herein may not be offered or sold in Australia, Canada or Japan or to, or for the account or benefit of, any national, resident or citizen of Australia, Canada or Japan. The offer and sale of the securities referred to herein has not been and will not be registered under the Securities Act or under the applicable securities laws of Australia, Canada, Hong Kong or Japan. There will be no public offer of the securities in the United States.

This announcement is being distributed in the UK only to, and is directed only at persons who are (i) investment professionals as defined in Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 ("the Promotion Order") who are persons having professional experience in matters relating to investments, (ii) high net worth companies, unincorporated associations and others falling within Article 49 of the Promotion Order or (iii) persons to whom this announcement may otherwise lawfully be distributed without being accompanied by any further statements and/or warnings as may be required by the Promotion Order (all such persons together being referred to as "relevant persons") and accordingly is exempt from the general restriction on communications in section 21 of the Financial Services and Markets Act 2000 and, as a result of such exemptions, has not been approved by an authorised person as required by such section. Any person who (i) does not have professional experience in matters relating to investments; (ii) is not a relevant person; or (iii) has any doubt about as to whether they are an investment professional, a high net worth company or unincorporated association, or other person to whom this announcement may be lawfully distributed without it being accompanied by any further statements or warnings and/or the investment to which this announcement relates must not rely on or act upon the contents of this announcement unless, with respect to (iii) only, they take professional advice that confirms that they fall within one of those categories.

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




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(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Dockwise Ltd via Thomson Reuters ONE

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