Important Update on Blue Northern's Cash Offer for Shares

Overview of the Offer Period Expiration

The voluntary cash tender offer from Blue Northern BLK Ltd, also known as the Offeror, to acquire all issued and outstanding shares of Belships ASA is approaching its expiration. Shareholders are encouraged to act promptly in response to the offer.

Key Offer Details

In January 2025, Blue Northern announced a recommended voluntary cash tender offer for shares in Belships ASA at a rate of NOK 20.50 per share. This announcement marked a significant milestone for both Blue Northern and Belships, presenting a unique opportunity for shareholders.

Understanding Shareholder Actions

To accept the offer, shareholders need to complete and return the acceptance form, which is found within the Offer Document. It's important to do this before the acceptance period closes, as missing this deadline will impact shareholders' options.

Regulatory Compliance

Shareholders holding their shares through brokers, banks, or other intermediaries should reach out to these entities directly to ensure they accept the offer before the deadline. Adhering to the regulatory framework is crucial for a smooth transaction.

Requirements for Completion

The completion of the offer is subject to various conditions outlined in the Offer Document, particularly in section 2.8, which discusses the conditions for completion. Recently, it was confirmed that the minimum acceptance condition required for the offer's completion has been satisfied.

Accessing the Offer Document

For those interested, the Offer Document is available through the ABG Sundal Collier ASA's website, which serves as the receiving agent. It can be accessed freely during regular business hours, aiding shareholders in making informed decisions.

The Role of Advisors

ABG Sundal Collier ASA is providing financial advice for this offer, with legal guidance from Advokatfirmaet BAHR AS and Watson Farley & Williams. This collaborative effort ensures the offer's integrity and adherence to regulations.

Important Considerations for Shareholders

Any correspondence regarding this announcement or the tender offer must be treated with care, as it may be restricted by law in several jurisdictions. This emphasizes the need for shareholders to stay informed about applicable regulations.

U.S. Considerations

For U.S. holders, it's essential to recognize that Belships' shares are not listed on U.S. exchanges, and the company does not adhere to U.S. reporting requirements. Those holding shares in the U.S. will receive the same terms under this offer, equitably treating all shareholders.

Trading and Offer Integrity

The Offeror and its affiliates are allowed to buy or make arrangements to buy shares outside the United States under Norwegian law. Such purchases might affect the tender offer price and ensure fairness throughout the process.

Conclusion

The impending expiration of Blue Northern's cash offer presents a pivotal moment for Belships ASA shareholders to evaluate their options. It's vital for shareholders to take the necessary steps to participate fully in this opportunity.

Frequently Asked Questions

What is the cash offer amount for Belships ASA shares?

The cash offer amount is NOK 20.50 per share as announced by Blue Northern BLK Ltd.

When is the acceptance period set to end?

The acceptance period for the offer will end at 16:30 (CET) on a specified date, as stated in the announcement.

What document do shareholders need to accept the offer?

Shareholders need to fill out and submit an acceptance form included in the Offer Document.

Who can I contact for more information about the offer?

For further information, shareholders can reach out to their brokers or contact the receiving agent, ABG Sundal Collier ASA.

What should U.S. holders know about the offer?

U.S. holders should note that Belships is not listed on U.S. exchanges and will receive offers on the same terms as other shareholders.

About The Author

Hi there I'm 38-year-old author and financial consultant Owen Jenkins. Having worked in the financial sector for more than ten years, I am well-versed in the subtleties and complexity that mold our financial environment. Following a degree in finance, I worked in a number of financial institutions honing my abilities in market analysis, financial planning, and investment strategies.

My love is teaching others about investing and personal finance. My goal in writing many books and articles has been to demystify financial ideas and give readers the information they need to make wise financial decisions. I write with a direct, useful style that emphasizes doable suggestions for daily living.

Along with writing, I lead webinars and seminars where I impart knowledge on how to successfully negotiate the financial world. I also write for financial journals and show up as a guest expert on financial news programs a lot. Whether they are new to investing or want to improve their approach, my mission is to enable people to take charge of their financial futures.

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