Seacrest Petroleo Bermuda Limited: Share issuance from bond conversion and new share capital
Rio de Janeiro, Brazil/Hamilton, Bermuda, 17 December 2024: Reference is made to the 3 year USD 28.658 million subordinated unsecured convertible bond issue (the "Bonds") announced by Seacrest Petroleo Bermuda Limited (the "Company" or "Seacrest Petroleo") on 13 September 2024.
The Company has received conversion notices from holders of the convertible Bonds, for the conversion of USD 170,000 principal amount of Bonds into common shares in the Company.
The Board of Directors has resolved to convert the Bonds by issuance of 7,291,333 new common shares (the "New Shares") in Seacrest Petroleo. In accordance with the terms of the Bonds, the conversion is made at a conversion price of NOK 0.258755, subject to NOK/USD currency adjustments.
New share capital:
The New Shares were validly issued in the Norwegian Central Securities Depositary (Euronext Securities Oslo) on 17 December 2024. The share capital increase pertaining to the issuance of the New Shares has been validly registered in the Company's register of members. Accordingly, the authorized share capital of Seacrest Petroleo is comprised of USD 9,437.6010 divided into 471,880,048 common shares, each with a par value of USD 0.00002, of which 471,880,048 common shares are issued and outstanding.
For further information, please contact:
John de los Santos, Head of Investor Relations
Seacrest Petroleo Bermuda Limited
Tel. +44 79 4971 4756
E-mail: john.santos@seacrestpetroleo.com
This information is subject to the disclosure requirements in article 17 of the Regulation EU 596/2014 (the EU Market Abuse Regulation), section 5-12 of the Norwegian Securities Trading Act and the Oslo Rule Book part II.
About Seacrest Petroleo
Seacrest Petroleo is an independent oil and gas production company with an integrated portfolio of onshore producing oil fields and export infrastructure onshore in Espírito Santo, Brazil. The fields have estimated oil and gas in place volumes of 1.2 billion barrels of oil equivalents and certified 2P reserves of 144 million barrels of oil equivalents. The Company has exclusive control over its infrastructure, continuously from field production to offshore tanker loading terminal, allowing for cost-effective operations, and enabling direct access to markets for its premium grade products. The Company has offices in Bermuda, Norway and Brazil.