Swiber Holdings grabs 209 million share options in Vallianz

Its stake in Vallianz is now 27.21%.

Mainboard-listed offshore film Swiber Holdings today revealed that has exercised 209 million share options in Vallianz Holdings Limited at the exercise price of S$0.05 per option.

The total consideration of the options exercised is approximately US$9.2 million and is funded by Swiber’s working capital.

Prior to this move, Swiber held 21.18 equity interest in Vallianz. Following the deal, its equity interest has increased to 27.21%.

“Based on the weighted average share price of VHL transacted on 19 September 2014,being the market day preceding the exercise of the Options, the open market value is approximately US$ 18.5 million,” noted Swiber.