Prosafe SE : Prosafe SE: Successful completion of private placement

     Prosafe SE : Prosafe SE: Successful completion of private placement

Prosafe SE is pleased to announce the successful completion of a private
placement of 13,000,000 new shares.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, HONG KONG OR
JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR
DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER
OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Prosafe SE ("Prosafe" or the "Company") is pleased to announce the successful
completion of a private placement of 13,000,000 new shares (the "Private
Placement") directed towards Norwegian and international institutional
investors after close of the Oslo Stock Exchange on 14 March 2013. The
over-subscribed placement was made at a subscription price of NOK 58 per
share, and the share capital increase represents approximately 5.7 per cent of
the outstanding shares in the Company. Gross proceeds from the Private
Placement amount to NOK 754 million.

The proceeds from the Private Placement will be used to fund value enhancing
growth investments. The prospects and fundamentals of the accommodation market
remain attractive. The long-term demand for accommodation vessels is being
supported by high exploration and production activity, oil companies'
continued strong focus on increased oil recovery from existing fields and
recent new discoveries leading to hook-up and commissioning projects.

The issuance of the new shares was resolved by the Company's board of
directors pursuant to an authorisation granted at the Company's annual general
meeting on 23 May 2012. Following the completion of the Private Placement,
Prosafe's share capital will be increased by EUR 3,250,000 to EUR 60,734,197.5
divided on 242,936,790 shares with a nominal value of EUR 0.25 per share each.

Payment and delivery of allocated new shares to the investors is expected to
be on or about 20 March 2013. The new shares will be tradable on the Oslo
Stock Exchange as soon as the new shares have been registered in VPS, which is
expected to take place on or about 18 March 2013.

ABG Sundal Collier Norge ASA and SEB acted as Joint Managers and Joint
Bookrunners for the Private Placement.

Prosafe is the world's leading owner and operator of semi-submersible
accommodation vessels. Operating profit reached USD 222.4 million in 2012 and
net profit was USD 177.5 million. The company operates globally, employs 550
people and is headquartered in Larnaca, Cyprus. Prosafe is listed on the Oslo
Stock Exchange with ticker code PRS. For more information, please refer to
www.prosafe.com.

Larnaca, 15 March 2013
Georgina Georgiou, General Manager
Prosafe SE

For further information, please contact:

Media, analysts and investors
Karl Ronny Klungtvedt, Chief Executive Officer
Prosafe Management AS
Phone: +47 908 81 657

Sven Børre Larsen, Chief Financial Officer
Prosafe Management AS
Phone: +47 909 43 673

Analysts and investors
Cecilie Helland Ouff, Finance and IR Manager
Prosafe AS
Phone: +47 51 64 25 20 / +47 991 09 467

***
IMPORTANT INFORMATION

This press release is for information purposes only and shall not constitute
or be construed as an offer to buy, sell, issue, or subscribe for, or the
solicitation of an offer to buy, sell, issue, or subscribe for any securities,
nor shall there be any sale of securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction. Copies of
this announcement are not being made and may not be distributed or sent into
the Australia, Canada, Hong Kong, Japan, the United States or any other
jurisdiction in which such distribution would be unlawful or would require
registration or other measures.

The shares referred to herein have not been and will not be registered under
the United States Securities Act of 1933, as amended (the "U.S. Securities
Act"), or any state securities laws, and will be sold within the United States
only to qualified institutional buyers ("QIB"), as defined in Rule 144A under
the U.S. Securities Act ("Rule 144A"), through affiliates of the managers, in
reliance upon the exemption from the registration requirements provided by
section 4(2) of the U.S. Securities Act Rule 144A, and to certain non-U.S.
persons in offshore transactions in reliance on Regulation S under the U.S.
Securities Act. The shares to be offered will be subject to certain
restrictions on transfer.

Certain statements contained herein that are not statements of historical
fact, may constitute forward-looking statements. Forward -looking statements
involve known and unknown risks, uncertainties and other factors that could
cause the actual results or events concerning the Company to be materially
different from the historical results or from any future results expressed or
implied by such forward-looking statements. None of the Company, the managers
or any of their affiliates or advisors provide any assurance that the
assumptions underlying such forward-looking statements are free from errors
nor do any of them accept any responsibility for the future accuracy of the
opinions expressed in this press release or the actual occurrence of the
forecasted developments. Except as may be required by applicable law or stock
exchange regulation, neither the Company nor the managers, or any of their
affiliates or advisors, assume any obligation to update any forward-looking
statements or to confirm these forward-looking statements to actual results.

This information is subject of the disclosure requirements set out in Section
5-12 of the Norwegian Securities Trading Act.

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the
information contained therein.

Source: Prosafe SE via Thomson Reuters ONE
HUG#1685530
 
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