1515

Final results of voluntary offer to acquire all outstanding shares in Ocean Yield ASA

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, INTO OR WITHIN CANADA, AUSTRALIA, NEW ZEALAND, SOUTH-AFRICA, HONG KONG, JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL

Oslo, 8 November 2021 - Reference is made to the announcements on 5 November 2021 and the offer document dated 5 October 2021 (the "Offer Document") for the recommended voluntary offer (the "Offer") by Octopus Bidco AS (the "Offeror"), a company indirectly wholly owned by funds advised by Kohlberg Kravis Roberts & Co. L.P. and its affiliates ("KKR") for all outstanding shares in Ocean Yield ASA (the "Company") against a consideration in cash of NOK 40.519 per share, as adjusted downwards from NOK 41 per share for the dividend payment resolved by the Company, in accordance with the terms of the Offer. The offer price is subject to any further adjustments in accordance with the terms of the Offer, including but not limited to the FPSO Price Adjustment (if applicable), as defined in the Offer Document. Further announcements in this respect will be made if and when relevant.

Following final registration and verification of acceptances, the Offeror has received acceptances under the Offer for a total of 165,227,981 shares, equivalent to approx. 94.3% of the shares and votes in the Company on a fully diluted basis.

As previously announced, the closing conditions relating to minimum acceptance, regulatory approvals, and change of control consents have been fulfilled. As of the date of this announcement and to the Offeror's knowledge, the remaining closing conditions are satisfied. On that basis, the Offeror's settlement of the Offer will take place on or before 3 December 2021.

As a consequence of the Offeror having reached the 90% threshold, the Offeror intends to carry out a compulsory acquisition (squeeze out) of the remaining shares in the Company in accordance with the Norwegian Public Limited Liability Companies' Act Section 4-25 cf. the Norwegian Securities Trading Act Section 6-22 (1) and a subsequent delisting in due course. 

Advisers

Arctic Securities AS is acting as financial advisor to the Offeror and receiving agent in connection with the Offer. Wikborg Rein Advokatfirma AS and Simpson Thacher & Bartlett LLP are acting as legal advisors to the Offeror in connection with the Offer. 

DNB Markets, a part of DNB Bank ASA, is acting as financial advisor and Advokatfirmaet Schjødt AS is acting as legal advisor to the Company in connection with the Offer. Advokatfirmaet BAHR AS is acting as legal advisor to Aker ASA and Aker Capital AS in connection with the Offer.

Contacts

Ocean Yield ASA: Marius Magelie (SVP Finance & Investor Relations of Ocean Yield ASA), Tel +47 24 13 01 82, e-mail: marius.magelie@oceanyield.no.

The Offeror and KKR: Bjørn Richard Johansen (press contact) at First House, Tel +47 47 80 01 00, e-mail: brj@firsthouse.no.

About KKR:

KKR is a leading global investment firm with approximately USD 429 billion in assets under management as of June 2021 and has a 45-year history of leadership, innovation and investment excellence. In the past 15 years, KKR has grown by expanding its geographical presence and building businesses in new sectors, such as credit, special situations, equity strategies, hedge fund solutions, capital markets, infrastructure, energy and real estate. KKR's new efforts are based on its core principles and industry expertise, allowing it to leverage the intellectual capital and synergies across its businesses, as well as to capitalize on a broader range of opportunities.

KKR has significant experience and deep roots in infrastructure investing. KKR Infrastructure currently manages over USD 38 billion and has made 52 investments globally over the last 13 years.

KKR believes that the thoughtful management of environmental, social, and governance (ESG) issues are an essential part of long-term success in a rapidly changing world. KKR was one of the first major alternative assets investors to sign the United Nations-backed Principles for Responsible Investment (PRI) in 2009, and KKR's Responsible Investment Policy (2020) articulates its approach to integrating the consideration of ESG risks and value creation opportunities into investment processes globally.

References to KKR's investments in this announcement may include the activities of its sponsored funds and insurance subsidiaries.

***

Notice to U.S. Holders

U.S. Holders (as defined below) are advised that the Shares are not listed on a U.S. securities exchange and that the Company is not subject to the periodic reporting requirements of the U.S. Securities Exchange Act of 1934, as amended (the "U.S. Exchange Act"), and is not required to, and does not, file any reports with the U.S. Securities and Exchange Commission (the "SEC") thereunder.

The Offer is made to holders of Shares resident in the United States ("U.S. Holders") on the same terms and conditions as those made to all other holders of Shares of the Company to whom an offer is made. Any information documents, including the Offer Document, is disseminated to U.S. Holders on a basis
comparable to the method that such documents are provided to the Company's other shareholders to whom an offer is made. The Offer is made by the Offeror and no one else.

The Offer is made to U.S. Holders pursuant to Section 14(e) and Regulation 14E under the U.S. Exchange Act as a "Tier II" tender offer, and otherwise in accordance with the requirements of Norwegian law. Accordingly, the Offer is subject to disclosure and other procedural requirements, including with respect to the offer timetable, settlement procedures and timing of payments, that are different from those that would be applicable under U.S. domestic tender offer procedures and law.

Pursuant to an exemption from Rule 14e-5 under the U.S. Exchange Act, the Offeror and its affiliates or brokers (acting as agents for the Offeror or its affiliates, as applicable) may from time to time, and other than pursuant to the Offer, directly or indirectly, purchase or arrange to purchase, Shares or any securities that are convertible into, exchangeable for or exercisable for such Shares outside the United States during the period in which the Offer remains open for acceptance, so long as those acquisitions or arrangements comply with applicable Norwegian law and practice and the provisions of such exemption. To the extent information about such purchases or arrangements to purchase is made public in Norway, such information will be disclosed by means of an English language press release via an electronically operated information distribution system in the United States or other means reasonably calculated to inform U.S. Holders of such information. In addition, the financial advisors to the Offeror may also engage in ordinary course trading activities in securities of the Company, which may include purchases or arrangements to purchase such securities.

Neither the SEC nor any securities supervisory authority of any state or other jurisdiction in the United States has approved or disapproved the Offer or reviewed it for its fairness, nor have the contents of the Offer Document or any other documentation relating to the Offer been reviewed for accuracy, completeness or fairness by the SEC or any securities supervisory authority in the United States. Any representation to the contrary is a criminal offence in the United States.
 

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Innehåll från KIAAnnons

LISTA: 10 viktiga nyheter i Kias nya elbil EV6

Kia EV6 markerar en viktig milstolpe för den elektriska revolutionen i bilvärlden.

Det handlar om ny teknik, nya funktioner – och en ännu tydligare riktning mot en mer hållbar mobilitet.

Här är tio nyheter som presenteras med modellen som nu lanseras i Sverige.

Kia EV6 – Den nya generationens elbil

Ny plattform

Att bygga en elbil på en teknisk grundstruktur som tagits fram för att också kunna användas till förbränningsmotorer innebär ofta att tillverkaren behöver kompromissa på en rad områden.

Därför byggs Kia EV6 istället på den nyutvecklade plattformen E-GMP som är speciellt framtagen för helt eldrivna bilar. Det ger många fördelar, som till exempel ett plant kupégolv, generösa kupéutrymmen, spännande design och en låg tyngdpunkt som bidrar till trygga vägegenskaper.

Ultrasnabb laddning

Tack vare 800-voltsteknik kan EV6 laddas ultrasnabbt: från 10–80 procent på bara 18 minuter vid en laddstation med minst 250 kW.

Batteriet

Samtliga modeller på den svenska marknaden kommer med ett batteri på 77,4 kWh. Det möjliggör en räckvidd på upp till 528 kilometer vid full laddning enligt WLTP.

Mobil Powerbank

Kia EV6 är utrustad med en så kallad vehicle-to-load-funktion (V2L) vilket innebär att bilen kan ladda och driva andra elektriska apparater. Eftersom bilen kan leverera en effekt upp till 3,6 kW så kan EV6 fungera som en extra laddare för utrustning i ditt hem, som en Mobil Powerbank vid utomhusäventyr eller till och med för att ladda en annan elbil om det skulle behövas.

Dragkapacitet

Bilister som behöver kunna dra tunga släpfordon – som till exempel husvagnar, båttrailers eller hästtransporter – har hittills haft svårt att hitta en elbil som klarar utmaningarna. Kia EV6 har en godkänd dragkapacitet på 1 600 kilo.

Relax-stolar

Kia EV6 är utrustad med bekväma relaxstolar som kan fällas tillbaka i nästan ett helt horisontellt läge. Det är perfekt om man vill vila en stund, till exempel när man stannar och laddar. Tack vare den ultrasnabba laddningen blir det dock inte fråga om några längre powernaps.

Augmented Reality Head-Up Display

I Kia EV6 finne en Augmented Reality Head Up Display som projicerar ett virtuellt lager på vindrutan som visar hastighet och navigation. Det ger föraren möjlighet att behålla fokus på vägen.

Dubbla välvda panoramaskärmar

De dubbla panoramaskärmarna på 12,3+12,3 tum är högupplösta och välvda, med intuitiva menyer och användarvänligt gränssnitt för bästa användarupplevelse. Tekniken är standard i Kia EV6.

Elektrisk fyrhjulsdrift

Kia EV6 går att beställa med dubbla elmotorer, en på framaxeln och en på bakaxeln. Fyrhjulsdriften innebär bättre framkomlighet och mer stabilitet på utmanande underlag.

Kia EV6 GT Line har de dubbla motorerna som standardutrustning men även Kia EV6 Plus kan fås med fyrhjulsdrivning.

Prestanda

Med sina dubbla elmotorer har Kia EV6 GT Line som nu lanserar sammanlagt 325 hästkrafter. 0 till 100 km/h går på 5,2 sekunder.

I slutet av 2022 lanseras toppversionen Kia EV6 GT som med sin effekt på 585 hästkrafter gör 0 till 100 km/h på 3,5 sekunder.

Kia EV6 – Den nya generationens elbil

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Artikeln är producerad av Brand Studio i samarbete med KIA och ej en artikel av Dagens industri

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