Songa Offshore SE : Completion of the Subsequent Offering

Reference is made to the stock exchange notice dated 15 June 2016 regarding the final results of and allocation of shares in the subsequent offering (the "Subsequent Offering") of new ordinary shares (the "Offer Shares") in Songa Offshore SE (the "Company" or "Songa Offshore") at a subscription price of NOK 0.15 per Offer Share, made pursuant to the Company's prospectus dated 26 May 2016 (the "Prospectus").

Settlement of the Subsequent Offering has now been completed and 1,418,100,000 new ordinary Offer Shares have been issued and registered in the Norwegian Central Securities Depository (VPS). Pursuant to the terms of the Prospectus, the Offer Shares will, subject to due payment, be delivered to investors today, 23 June 2016. The Offer Shares are tradable on Oslo Stock Exchange.

Following the completion of the Subsequent Offering, the Company's total number of issued and outstanding shares now consists of 2,292,012,544 ordinary shares and 8,466,839,157 Class A Shares. The Class A Shares will convert to ordinary shares and be admitted to trading on Oslo Stock Exchange following release of Songa Offshore's Q3 2016 report.  

With respect to allocation to primary insiders, reference is made to the stock exchange notice of 15 June 2016. With respect to Johan Kristian Mikkelsen, member of the board of Songa Offshore, the correct number of shares allocated should be 1,000,000 shares, following which Mikkelsen owns 1,000,000 shares in Songa Offshore. 

23 June 2016
Limassol, Cyprus

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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