SSP OFFSHORE INC. ("SSZ")
BULLETIN TYPE: Notice of Distribution
BULLETIN DATE: September 16, 2014
TSX Venture Tier 2 Company
Further to TSX Venture Exchange bulletin dated September 11, 2014, approving the Asset Purchase and Sale Agreement dated August 8, 2014, between SSP Offshore Inc. (the "Company") and Jurong Shipyard Pte. Ltd. (the "Purchaser"), the Company will be distributing approximately US$12,822,019, the first of two cash distributions as a reduction of capital of the common shares of the Company on a pro rata basis to the holders of common shares (the "Initial Distribution") as described in the Company's Information Circular dated August 12, 2014.
Distribution per Share: US$0.175 per common share held
Payable Date: September 30, 2014
Record Date: September 25, 2014
Ex-Distribution Date: October 1, 2014
Due Bill Redemption Date: October 3, 2014
DUE BILL TRADING:
The Company has declared a cash distribution of US$0.175 per common share of the Company held which is payable on September 30, 2014 to shareholders of record as at the close of business on September 25, 2014. The common shares of the Company will commence trading on a "due bill" basis effective from the opening of September 23, 2014 until September 30, 2014 inclusively. Sellers of the common shares from September 23, 2014 to and including September 30, 2014 will not be entitled to the distribution. The common shares will commence trading on an ex-distribution basis effective at the opening on October 1, 2014.
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