GC Rieber Shipping ASA ("RISH"), through its wholly owned subsidiary Polar Ship Invest IV AS ("Polar"), announced on May 7, 2012 an offer to acquire all outstanding shares in Armada Seismic ASA ("Armada" or the "Company") not currently owned by Polar for a price of NOK 26 per share.
Following the announcement of the voluntary offer (the "Offer"), RISH has through acceptances and the acquisition of shares in the market reached a combined ownership and acceptance level of 95.59 percent. As a consequence, the Offer's condition of 90% has been fulfilled and the Offer is now unconditional. The shares purchased in the market have been acquired at a price of NOK 25.90 per share. The Offer period expires on 21 May 2012, after which settlement will take place as outlined in the Offer letter.
Source: GC Rieber Shipping ASA