• 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 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
10:29 New state programme on Arctic development in 2021-2024 drafted by Russia’s ad hoc Ministry
09:53 Debt service guarantees on Yamal LNG removed from NOVATEK
09:30 Oil prices rise in hope of demand
09:12 Baltic Dry Index as of September 24
09:11 MABUX: Bunker market this morning, Sept 25

2020 September 24

18:37 Kongsberg Digital develops cloud-based simulators for maritime industry, with funds from Innovation Norway
18:07 Wärtsilä ranked first in UN challenge to fight climate change with big data
17:45 Alco Bio Fuel, Messer Benelux and IJsfabriek Strombeek once again invest in recycling CO2 in North Sea Port
17:20 World’s first subsea compression system passes five years in operation
17:12 Esben Poulsson reappointed as ICS Chairman for a new term
16:48 Okskaya Shipyard launches first multipurpose dry cargo carrier of Project RSD59 for Astrol
16:24 Severnaya Verf starts cutting steel for seventh trawler of Project 170701 for NOREBO Group
15:50 ASCO's vessel “Razul Rza” sent to outer waters after repairs
15:26 Russian Direct Investment Fund (RDIF) to invest in Sovcomflot, says RDIF CEO
15:02 Diana Shipping announces the sale of a Capesize Dry bulk vessel
14:39 Russian Railways launches regular multimodal service from China to Europe via the ports of Kaliningrad and Hamburg
14:17 MABUX releases its weekly review of bunker market
14:02 Fincantieri starts dry dock works for experimental vessel Zeus
13:40 Freeport of Riga Authority signs Declaration of Cooperation with Port of Shenzhen
13:21 IMO celebrates World Maritime Day 2020
13:08 Total and MOL officially name the world’s largest LNG bunker vessel
12:48 Bunker prices decrease in the Far East ports of Russia (graph)
12:25 ZIM launches new China-Australia Express Line
12:11 Inmarsat Fleet Lte service coverage extended to Gulf of Mexico following successful trials with V.Ships Offshore
11:32 Ships of RF Navy’s Black Sea Fleet take part in "Kavkaz-2020" maneuvers
11:14 Port of Trelleborg offers their shipping customers reliable and fast internet with Nowhere Networks
11:13 "Tatarstan" missile ship of RF Navy’s Caspian Flotilla involved in "Kavkaz-2020" maneuvers
10:09 CTI-Maritec receives DNV GL approval for ballast water testing
09:57 Muuga freight station of Rail Baltica is to be designed by SWECO Projekt AS
09:36 MPC Container Ships ASA announces appointment of new CFO
09:29 Oil prices decrease amid concern over demand/supply imbalance
09:11 Baltic Dry Index as of September 23
08:40 MABUX: Bunker market this morning, Sept 24

2020 September 23

18:15 HMM opens Fleet Control Centre