Shareholder raises stake in SSC

SSC received a conversion notice from Northern Link Ltd on January 16 and will issue 26,636,437 new fully paid common shares in lieu of the entire outstanding principal and accrued interest to date, in accordance with the terms of the loan agreement.

As a result of the conversion, Northern Link Ltd's shareholding in SSC will increase to 133,125,109 shares, constituting an increase of Northern Link's shareholding and votes from 63.8% to 68.8%.

Following registration of the new shares, the issued share capital of SSC will be divided into 193,482,271 shares, each with a nominal value of NOK 0.9. The registration of the new shares is expected to take place on or about 16 February.