Common Contracts

Contract

Subscription Agreement • February 19th, 2012 • Oslo

• Contract Type
  Subscription Agreement
• Filed
  February 19th, 2012
• Jurisdiction
  Oslo

Subscription AgreementBassDrill Ltd. Rights Issue February/March 2012 BassDrill Ltd. (the “Company”), a Bermuda registered company is proposing a rights issue for the purpose of raising approximately USD 5,1 million through a rights issue of 2,288,918 new shares with a nominal value of USD 1 per share (the “New Shares”) at a subscription price of USD 2.24 per share (the “Subscription Price”) (the “Rights Issue”).The Rights Issue will be directed to the Company’s existing shareholders as of 20 February 2012 (the “Eligible Shareholders”). Eligible Share- holders will be entitled to subscribe for the New Shares on the basis of their proportionate shareholding on 20 February 2012 (the pre-emptive rights). The Eligible Shareholders will be entitled to subscribe 0.05 New Shares per share owned on 20 February 2012, rounded down to the nearest whole share. Oversubscription is permitted to the extent certain Eligible Share- holders do not subscribe for their proportionate rights.Conditions for