Shares issued in connection with conversion of Convertible Lease
Investors in BOP 15 DIS controlling 99.5% of the DIS (Songa Offshore owns 0.5%), have exercised their right to convert their ownership interests into Songa Offshore shares.
The lease valued at USD 15,300,000 was converted at NOK 35 with NOK / USD exchange rate 5.9034.
A total of 2,567,726 shares will be issued. After this there are 87,251,527 shares outstanding.