FRNT - Frontline 2012 Ltd. contemplating Private Placement
04 September 2013 - 8:41PM
NOT FOR DISTRIBUTION OR RELEASE,
DIRECTLY OR INDIRECTLY, IN OR TO U.S. NEWS WIRE SERVICES OR INTO
THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANY OTHER
JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE
UNLAWFUL
Frontline 2012 Ltd. ("Frontline 2012" or the
"Company") is pleased to announce that it is offering investors to
subscribe in a private placement raising minimum $200 million in
gross proceeds to the Company (the "Private Placement"). Minimum
application will be $ 1 million.
The private placement will be fully underwritten by Hemen Holding
Ltd.
The proceeds will be used to finance the announced
investment in Avance Gas, the current newbuild program and further
expansion. Frontline 2012 will within one month following the
completion of the private placement seek to dividend around 12.5%
of the shares in Avance Gas to Frontline 2012's shareholders.
The application period will close on September 5,
2013 at 08:30 hours CET at the latest.
DNB Markets, Fearnley Securities, Arctic
Securities, Pareto Securities and SpareBank 1 Markets act as joint
lead managers and book-runners for the Private Placement.
The Board of Directors
Frontline 2012 Ltd.
Hamilton, Bermuda,
September 4, 2013
***
Important
Notice
The Private Placement and this
announcement and other information in connection with the Private
Placement may be restricted by law in certain jurisdictions.
Frontline 2012 assumes no responsibility in the event there is a
violation by any person of such restrictions. Persons in whose
possession this announcement or such other information should come
are required to inform themselves about and to observe any such
restrictions. This announcement is not for distribution, directly
or indirectly, in or into any jurisdiction in which it is unlawful
to make any such offer or solicitation to such person or where
prior registration or approval is required for that
purpose.
This document is not an offer to
sell, or the solicitation of an offer to buy or subscribe for
securities in the United States, Australia, Canada, Japan or in any
jurisdiction in which such offer, solicitation or sale is unlawful.
Securities may not be offered or sold in the United States absent
registration under the US Securities Act of 1933 (the "Securities
Act") or an exemption from, or in a transaction not subject to,
registration. Subject to certain exceptions, the securities
referred to herein may not be offered or sold in Australia, Canada
or Japan or to, or for the account or benefit of, any national,
resident or citizen of Australia, Canada or Japan. The offer and
sale of the securities referred to herein has not been and will not
be registered under the Securities Act or under the applicable
securities laws of Australia, Canada or Japan. The new shares to be
offered may not be offered or sold within the United States, except
to qualified institutional buyers ("QIB"), as defined in Rule 144A
under the U.S. Securities Act ("Rule 144A"), through affiliates of
the Managers, in reliance upon the exemption from the registration
requirements provided by section 4(2) of the U.S. Securities Act
Rule 144A, and to certain non-U.S. persons in offshore transactions
in reliance on Regulation S under the U.S. Securities Act. The
shares to be offered will be subject to certain restrictions on
transfer.
This document is only addressed to
and is only directed at persons in member states of the European
Economic Area (the "EEA") who are "qualified investors" within the
meaning of Article 2.1(e) of the Prospectus Directive (Directive
2003/71/EC). In addition, in the United Kingdom, these materials
are directed solely at persons who (i) have professional experience
in matters relating to investments falling within Article 19(5) of
the Financial Services and Markets Act 2000 (Financial Promotion)
Order 2005 (the "Order") or (ii) are persons falling within Article
49(2)(a) to (d) of the Order and other persons to whom it may
lawfully be communicated (all such persons together being referred
to as "relevant persons"). These materials are addressed only to,
and directed only at, relevant persons and qualified investors and
must not be acted on or relied on (i) in the United Kingdom, by
persons who are not relevant persons or (ii) in any member state of
the EEA other than the United Kingdom, by qualified investors. Any
investment or investment activity to which these materials relate
is available only to, and will be engaged in only with, in the
United Kingdom, relevant persons, and in any member state of the
EEA other than the United Kingdom, qualified investors.
This
announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the
information contained therein.
Source: Frontline 2012 Ltd. via Thomson Reuters ONE
HUG#1727219
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