• 2020 August 14 15:35

    Aker Carbon Capture AS and Aker Offshore Wind Holding AS – contemplated private placement and listing on Merkur Market

    Reference is made to the previous stock exchange announcement made by Aker Solutions ASA (“Aker Solutions”) on 17 July 2020 regarding inter alia, the contemplated spin-off of its offshore wind development and carbon capture businesses.

    The offshore wind development business has been transferred into Aker Solutions’ subsidiary Aker Offshore Wind Holding AS (“Aker Offshore Wind”) and the carbon capture business has been transferred into another subsidiary, Aker Carbon Capture AS (“Aker Carbon Capture” and together with Aker Offshore Wind, the “Subsidiaries”). Aker Solutions intend to issue 294,117,647 new shares in Aker Carbon Capture and 340,136,054 new shares in Aker Offshore Wind (the “Offer Shares”, respectively), through two contemplated private placements (the “Private Placements”) raising gross proceeds of approximately NOK 500 million in each of the Subsidiaries. Following completion of the Private Placements, the Subsidiaries are expected to be admitted to trading on the Merkur Market, a multilateral trading facility operated by the Oslo Stock Exchange.

    The Private Placements are directed towards certain investors subject to, and in compliance with, applicable exemptions from relevant prospectus or registration requirements. The Subsidiaries have retained Carnegie AS and Skandinaviska Enskilda Banken AB (publ) as Joint Lead Managers and Joint Bookrunners in the Private Placements (collectively the "Managers"). Sparebank 1 Markets AS has been retained as Co-Manager.

    The Offer Shares in Aker Offshore Wind will be offered at a price per share of NOK 1.47 (the "AOW Offer Price"). The AOW Offer Price corresponds to a pre-money value of the equity of Aker Offshore Wind of approximately NOK 400 million.

    The Offer Shares in Aker Carbon Capture will be offered at a price per share of NOK 1.70 (the "ACC Offer Price"). The ACC Offer Price corresponds to a pre-money value of the equity of Aker Carbon Capture of approximately NOK 460 million.

    The bookbuilding period for the Private Placement will commence today, 12 August 2020 at 09:00 (CEST) and will close on 13 August 2020 at 16:30 (CEST). The Subsidiaries reserve the right to close or extend the bookbuilding period at any time and for any reason at its sole discretion and without notice. The minimum order size and allocation in the Private Placement will be the NOK equivalent of EUR 100,000, provided that the Subsidiaries may, at their sole discretion, offer and allocate an amount below EUR 100,000, pursuant to any applicable exemptions from the prospectus requirement being available.

    Aker ASA will directly or indirectly through a subsidiary guarantee full subscription of the Private Placements, subject to a minimum allocation of Offer Shares equivalent to a minimum subscription of NOK 320 million in Aker Offshore Wind and NOK 330 million in Aker Carbon Capture. Aker ASA (or its subsidiary) will furthermore enter into a customary lock-up agreement whereby all Offer Shares allocated to Aker ASA (or its subsidiary) will be subject to lock-up for a period of 6 months.

    Completion of the Private Placements is conditional upon the necessary corporate resolutions in each of the Subsidiaries being made and the Offer Shares having been fully paid and validly issued. Allocation of Offer Shares will be determined at the end of the application period by each of the Subsidiaries at their sole discretion. The Subsidiaries may focus on allocation criteria such as (but not limited to) existing ownership in Aker Solutions ASA, timeliness of the application, relative order size, sector knowledge, investment history, perceived investor quality and investment horizon. Settlement instructions are expected to be distributed by the Managers on or about 14 August 2020, with payment date on or about 20 August 2020 and delivery of Offer Shares to the subscribers on or about 26 August 2020.

    The Subsidiaries and the Managers reserve the right, at any time and for any reason, to cancel, and/or modify the terms of, the Private Placements. Neither the Subsidiaries, Aker Solutions nor the Managers will be liable for any losses incurred by applicants if the Private Placements are cancelled, irrespective of the reason for such cancellation.

    Further selling restrictions and transaction terms will apply.

    The Subsidiaries are currently wholly-owned subsidiaries of Aker Solutions. As part of the Private Placements, the Subsidiaries will apply for listing of their shares on Merkur Market. Subject to completion of the Private Placement, the expected first day of trading will be on or about 26 August. Prior to such date, it is expected that the shareholders in Aker Solutions have approved the dividend in kind proposed to be distributed as further set out in the notice of an extraordinary general meeting to be held in Aker Solutions on 14 August 2020. Such distribution entails that all of Aker Solutions’ shares in the Subsidiaries will be distributed to Aker Solutions’ shareholders.

    Advokatfirmaet BAHR AS acts as legal advisor in connection with the Private Placements and the listing on Merkur Market. Advokatfirmaet Thommessen AS has assisted the Managers in connection with the Private Placement.

    About Aker Solutions

    Aker Solutions helps the world meet its energy needs. We engineer the products, systems and services required to unlock energy. Our goal is to maximize recovery and efficiency of oil and gas assets, while using our expertise to develop the sustainable solutions of the future. Aker Solutions employs approximately 13,000 people in more than 20 countries.

2020 September 28

18:57 Okeanis Eco Tankers announces one year VLCC time charter
18:27 Bumi Armada secures third FPSO project in India
18:07 Wilhelmsen and thyssenkrupp step-up collaboration, establishing 3D printing joint venture targeting the maritime industry
17:59 RF Government to allocate RUB 27.6 billion for construction of two scientific research ships
17:28 Port of Long Beach announces closure of traffic routes leading to the Gerald Desmond Bridge
17:05 Maersk Supply Service and Ørsted to test offshore charging buoy to reduce vessel emissions
17:02 Oboronlogistics completed Northern Delivery programme of 2020
16:56 UTLC ERA JLC and Belintertrans-Germany GmbH open joint end-to-end regular multimodal service from China to Western Europe
16:37 Atommash shipped Reactor Pressure Vessel for Turkey's first nuclear power plant
16:14 The digital transformation is accelerating, and insurers and underwriters must adapt, says IUMI
15:51 Ships of RF Navy's Black Sea Fleet returned to their permanent locations after "Kavkaz-2020" maneuvers
15:29 New railway bridge over Kolar river put into operation in Murmansk Region
15:13 BIMCO to push for international guidelines for ship/shore communication at IMO
14:12 Submersible robot buries power cables for offshore wind farms 5.5 metres below seabed to the north of Maasvlakte
13:53 Moscow Exchange registered debut bond issue by FSUE "Rosmorport"
13:30 Blanket repair begins at Beloomut dam’s second section
13:12 Busan Port Authority concludes an agreement to establish a smart maintenance system for port facility
12:54 Average spot market price for Russian M100 product fell to RUB 11,773 pmt
12:11 Abu Dhabi Ports acquires MICCO to become a leading provider of fully integrated supply chain logistics solutions
11:36 RF Government approves National Programme for Far East Development
11:13 Aker Solutions awarded subsea contract for Breidablikk
10:51 Hornsea Two monopile installation scheduled to start next month
10:21 Shipbuilding, Ship Repair Corporation launches non-self-propelled suction hopper dredger of Project 4395
09:52 Tallink suspends operation of Helsinki-Riga route until end of October
09:30 Tallink changes weekend operating schedule of Tallinn-Helsinki route shuttle vessel Star
09:14 Baltic Dry Index as of September 25
08:48 MABUX: Bunker market this morning, Sept 28

2020 September 27

16:43 Milaha signs key deal with major oilfield services firm
15:31 RINA and SDARI: an innovative step towards 3D ship classification
14:28 Belfast Harbour is hosting an innovative study which could help change the way ports and harbours manage air quality
13:48 ABP invests £10 million to repair Swansea West Pier
12:49 Huntington Ingalls Industries restores drinking water, conducts steam testing during USS George Washington (CVN 73) refueling and complex overhaul
12:03 The Manor Endurance sets sail for her first charter
11:29 NYK and JMU introduce shipbuilding contract that guarantees propulsion in actual sea conditions

2020 September 26

15:52 Port Freeport enters partnership with CEMEX Servicios Logisticos and Union Pacific Railroad
14:32 Coast Guard rescue two mariners from disabled catamaran near Oahu
13:43 NAT orders two -2- Suezmax newbuildings in South Korea
12:38 JAXPORT CEO Green named one of Florida’s top business leaders for third year in a row
12:06 Northwest to Midwest: New rail service builds on NWSA’s intermodal growth
11:02 IUMI: Loss prevention remains a vital element in ensuring the insurability of maritime risk
10:53 Huntington Ingalls Industries breaks ground on unmanned systems center of excellence

2020 September 25

18:07 Tripartite agreement signed on establishing the FSRU terminal in the Bay of Gdansk
17:55 Baltic Fuel Company shipped first batch of bitumen
17:39 Scorpio Bulkers announces purchase of shares by Scorpio Services
17:34 Vessel “Razul Rza” sent to outer waters after the repair works
17:12 Metal Shark debuts 48-meter catamaran expedition vessel and introduces "Metal Shark Yachts" portfolio
16:51 Ningbo Containerized Freight Index rises significantly in September
16:19 OOCL's service update for Trans-Pacific trade
16:16 Representative office of Marinet opened in China
15:27 GTT signs a contract with the U.S. Dep't of Defense for the Red Hill Bulk Fuel Storage Facility
14:59 RFC held the second stage of the ecological marathon
14:31 Bunker prices are flat in the Port of Saint-Petersburg, Russia (graph)
14:05 Zvezda shipyard to build 10 gas tankers for Arctic LNG 2
13:42 Wärtsilä solutions meet challenging needs of Canadian Coast Guard vessel
13:18 Nuclear-powered container carrier Sevmorput delivered Kamchatka fish to Saint-Petersburg
12:56 Competition for construction of two scientific research ships for Russian Federal Fisheries Agency to be announced in October
12:34 Royal Niestern Sander orders SCHOTTEL thrusters for world’s first shallow-draught ice-breaking W2W vessel
12:11 VEB.RF starts financing construction of ten gas tankers for Arctic LNG 2 project
11:29 LR awards Samsung Heavy Industries AiP for its ammonia-fuelled tanker
10:37 British Ports Association sets out spending review priorities