Nautilus Marine Services PLC Completion of Transactions & Change of Name (4275W)
February 09 2017 - 3:07AM
UK Regulatory
TIDMNAUT
RNS Number : 4275W
Nautilus Marine Services PLC
09 February 2017
Immediate Release 9 February 2017
NAUTILUS MARINE SERVICES PLC
(FORMERLY GLOBAL ENERGY DEVELOPMENT PLC)
(the "Company" or "Nautilus")
COMPLETION OF ACQUISITION TRANSACTIONS AND CHANGE OF NAME
Nautilus Marine Services PLC is pleased to announce the
completion of the transactions to acquire subsea service vessels.
The acquisitions were effected through the purchase of the entire
issued share capital of certain vessel-owning companies. All
vessels have been received and inspected and are located at the
Company's docking facility in Louisiana, U.S. In accordance with
completion requirements, the Company has received in $3.0 million
in cash proceeds and has issued the pro-rata share of Convertible
A, B and C Loan Notes ("Convertible Notes") to McLarty Capital
Partners and Caleura Limited. The remaining cash proceeds of $7.0
million and $500,000 are scheduled to be received on 31 March and
15 April 2017, respectively, and the remaining pro-rata share of
Convertible Notes will be issued accordingly.
In addition, following approval from shareholders at the General
Meeting of the Company held on 8 February 2017 and Admission of the
Company's Issued Share Capital today, the Company has changed its
name to Nautilus Marine Services PLC and has changed its TIDM from
'GED' to 'NAUT'.
The Company's ISIN remains unchanged.
A recording of the Company's shareholder presentation will be
available on the Company's website which has been changed to
www.nautilusmarineplc.com.
Enquiries:
Nautilus Marine Services PLC
Anna Williams, Director of +1 817 424 2424,
Strategy and Business Development ext 110
awilliams@nmsplc.com
www.nautilusmarineplc.com
finnCap LtdChristopher Raggett/Scott
Mathieson/Kate Bannatyne (Corporate
Finance) 0207 220 0500
Emily Morris (Corporate Broking)
Abchurch
Tim Thompson/Rebecca Clube 0207 398 7700
nautilus@abchurch-group.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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