The Board of Directors of North Energy ASA decided on 4th of September 2026 the
dissolution of the fully owned subsidiary North Industries 1 AS. In relation to
the dissolution a total number of 50,832,449 shares in Reach Subsea ASA owned by
the subsidiary has been transferred from the subsidiary to North Energy ASA at a
price of NOK 6.66 per share, total NOK 338,544,110.
North Energy ASA and North Industries 1 AS are close associates of primary
insider Rachid Bendriss (chairman of the Board in Reach Subsea ASA).
As a consequence of the restructuring and the transfer, North Energy ASA now
holds 50,832,449 shares in Reach Subsea, representing 15.53% of the shares in
the company.
However, at North Energy's group level there is no change in the ownership of
Reach Subsea ASA.
Instrument details:
Reach Subsea ASA
LEI: 5967007LIEEXZXK7FS45
ISIN: NO0003117202
For more information, please contact:
Arne Joa
Chief Financial Officer
Reach Subsea ASA
investors@reachsubsea.com
This information is subject to the disclosure requirements in article 19 of the
Regulation EU 596/2014 (the EU Market Abuse Regulation) and section 5-12 of the
Norwegian Securities Trading Act.
f the\
Norwegian Securities Trading Act.\