We refer to the previous notifications on 8 and 15 August 2023, about notice of
Extraordinary General Meeting and proposal for distribution of additional
dividend in kind.
Shearwater Geoservices Holding AS has notified shareholders of a proposal for 1)
approval of a share capital increase in the company in order to facilitate for a
subsequent reverse share split and 2) do a reverse share split in the ratio
200:1, so that 200 shares in the Company is consolidated into one share.
The proposal will be dealt with at the general meeting of Shearwater Geoservices
Holding AS on 25 August 2023. If the reverse split is completed by 29 August
2023, shareholders in the Company will receive one Shearwater share for every 3
444 shares they own in the Company. If a shareholder holds less than 3 444
shares in the Company, a cash amount corresponding to the financial value of the
shares in Shearwater owned by the relevant shareholder is distributed. This also
applies to surplus shares after the individual shareholders’ existing share
holdings in the Company have been divided by 3 444. Value per Shearwater share
is now NOK 108.80, a reverse split in the ratio 200:1 will increase the value of
the Shearwater share accordingly to NOK 21 760. GC Rieber Shipping is monitoring
the situation in Shearwater.
Einar Ytredal, CEO, GC Rieber Shipping, phone: +47 975 20 184
Silje Tonning Søgnen, CFO, GC Rieber Shipping, phone: +47 977 61 023
About GC Rieber Shipping:
GC Rieber Shipping is a shipowner and project-house with focus on developing
profitable and sustainable maritime projects.
Further information about the company, please go to www.gcrieber-shipping.com.
This information is published in accordance with the requirements of the
This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.