OFFER TO PURCHASE SHARES IN AKER FLOATING PRODUCTION ASA

Transkript

1 OFFER TO PURCHASE SHARES IN AKER FLOATING PRODUCTION ASA MADE BY AKER FLOATING HOLDING AS OFFER PRICE: NOK 3.63 PER SHARE IN CASH OFFER PERIOD: FROM AND INCLUDING 2 MARCH 2012 TO 17:30 (NORWEGIAN TIME) ON 12 MARCH 2012 RECEIVING AGENT: ARCTIC SECURITIES ASA 2 MARCH 2012

2 OFFER TO PURCHASE SHARES Aker Floating Production ASA IMPORTANT NOTICE Please refer to section 1 for definitions, which also applies to the preceding pages. This offer document (the Offer Document ) has been prepared by Aker Floating Holding AS ( AFH or the Offeror ) to present an offer (the Offer ) for all outstanding shares (the Shares ) in Aker Floating Production ASA ( AKFP or the Company ) owned by other shareholders than AFH (the Shareholders ). The Offer is not subject to the requirements of chapter 6 of the Securities Trading Act, and accordingly, this Offer Document has not been reviewed or approved by Oslo Børs. Shareholders must rely on their own examination of the Offer and should if necessary seek independent advice concerning the Offer. Nothing in this Offer Document may be construed neither as any advice, including but not limited to legal, tax, accounting and commercial advice, nor as information applicable to each Shareholder s particular situation. Each Shareholder should consult its own advisors for independent advice so that a balanced judgment can be made of the Offer and all that is discussed and described in this Offer Document. Each Shareholder should also consult with its own advisors as to the legal, tax and other implications of the Offer and the acceptance of this. No person has been authorised to give any information or make any representation on behalf of AFH not contained in this Offer Document and, if given or made, such information or representation must not be relied upon as having been authorised by AFH. This Offer Document has been prepared in the English language. A Norwegian summary has been included in section 3. Should there be any inconsistencies between the text of the English language document and the Norwegian summary contained in section 3, the provisions of the English language version shall prevail. Subject to the provisions of applicable law, any dispute arising out of, or in connection with, this Offer Document, the Offer or acceptances of the Offer (the Acceptances ) shall be governed by Norwegian law and settled exclusively by Norwegian courts. RESTRICTIONS Shareholders not resident in Norway are advised that their ability to accept the Offer may be limited by the laws of their jurisdiction. The Offer is not an offer to sell securities and it is not a solicitation of an offer to buy securities, nor shall there be any sale or purchase of securities hereto, in any jurisdiction in which such offer, solicitation or sale is not permitted or would be unlawful prior to registration or qualification under the laws of any such jurisdiction. The Offer or this Offer Document is not being made or furnished directly or indirectly in any jurisdiction where prohibited by applicable law or in which the making or acceptance thereof would not be in compliance with the securities laws or other laws or regulations of such jurisdiction or would require any registration, approval or filing with any regulatory authority not expressly contemplated by the terms of this Offer Document. The Offer is not being made directly or indirectly in, and this Offer Document and related acceptance forms may not be distributed, forwarded or transmitted into or from the United States, Canada, Australia, Japan or the Cayman Islands. If in any doubt as to the eligibility to participate in the Offer, Shareholders should contact their professional advisers immediately. Acceptances of the Offer by Shareholders not residing in Norway will be accepted by AFH if such Acceptances comply with the acceptance procedures set out in this Offer Document. Neither AFH or any of its respective affiliates, managing or supervisory board members or employees, nor any of their respective advisers, accepts any liability for any violation by any person of any restriction on the acceptance of the Offer by Shareholders not residing in Norway. Any person (including, without limitation, custodians, nominees and trustees) who would or otherwise intends to forward this Offer Document or any related document to any jurisdiction outside Norway should carefully read the sections Restrictions and Important Notice before taking any action. The distribution of this Offer Document in jurisdictions other than Norway may be restricted by law and therefore persons into whose possession this Offer Document comes should inform themselves about and observe such restrictions. Any failure to comply with any such restrictions may constitute a violation of the law of any such jurisdiction. Shareholders not resident in Norway wanting to accept the Offer must also comply with any required necessary governmental consents or the payment of any taxes due in any applicable jurisdiction other than Norway. Copies of this Offer Document will be distributed to the Shareholders of the Company registered in the shareholder register in the VPS as of 2 March The Offer Document may be viewed online at and 1

3 OFFER TO PURCHASE SHARES Aker Floating Production ASA TABLE OF CONTENTS 1. DEFINITIONS THE OFFER NORSK SAMMENDRAG (NORWEGIAN SUMMARY)... 9 APPENDIX 1 ACCEPTANCE FORM APPENDIX 2 AKSEPTFORMULAR

4 1. Definitions OFFER TO PURCHASE SHARES Aker Floating Production ASA When used in this Offer Document, the following terms shall have the meanings set out below, unless the context otherwise requires. Words importing the plural shall be construed to include the singular and vice versa. Acceptance Acceptance of the Offer by a Shareholder Acceptance Form The acceptance form included in this Offer Document in Appendices 1 (English) and 2 (Norwegian) Acceptor A Shareholder having accepted the Offer AFH Aker Floating Holding AS, a limited liability company incorporated under the laws of Norway with registration no Aker Aker ASA, a public limited liability company incorporated under the laws of Norway with registration no AKFP Aker Floating Production ASA, a public limited liability company incorporated under the laws of Norway with registration no Business Day Any day on which commercial banks are open for business in Oslo Companies Act The Norwegian Public Limited Liability Companies Act of 13 June 1997 no. 45 ( Allmennaksjeloven ) Company Aker Floating Production ASA, a public limited liability company incorporated under the laws of Norway with registration no Conditions The Offeror's conditions to complete the Offer as set forth in section 2.6 of this Offer Document Merger A three way merger between AKFP and AFH, with settlement in Aker shares, resolved by the Extraordinary General Meeting held in AKFP on 12 December 2011 NOK Norwegian Kroner, the lawful currency of Norway Offer The offer by AFH to acquire all issued and outstanding Shares, as described in this Offer Document Offer Document This offer document, setting out the terms and conditions of the Offer Offeror AFH Offer Period The period from and including 2 March 2012 to 17:30 (Norwegian time) on 12 March 2012 (or such date and time to which the Offeror shall have extended the period) during which the Offer can be accepted Offer Price NOK 3.63 per Share in cash Oslo Børs Oslo Børs ASA (Oslo Stock Exchange) Receiving Agent Arctic Securities ASA Register of Business Enterprises Securities Trading Act Settlement Date Shareholder Shares VPS The Norwegian Register of Business Enterprises in Brønnøysund, Norway ( Foretaksregisteret ) The Norwegian Securities Trading Act of 29 June 2007 no. 75 ( Verdipapirhandelloven ) The date when settlement of the Offer takes place in accordance with section 2.9 of this Offer Document A holder of Shares, other than AFH Shares in AKFP, listed on Oslo Børs with ticker code AKFP, and registered in VPS with ISIN NO NO The Norwegian Central Securities Depository ( Verdipapirsentralen ) 3

5 2. The Offer OFFER TO PURCHASE SHARES Aker Floating Production ASA 2.1 Introduction and background for the Offer AFH hereby makes an Offer to acquire all issued and outstanding Shares in AKFP not already owned by AFH on the terms, and subject to the terms and conditions set out herein. AFH, which is a wholly owned subsidiary of Aker ASA ( Aker ASA ), currently owns approximately % of the Shares in AKFP. In the Extraordinary General Meeting held in AKFP on 12 December 2011, the shareholders approved a three way merger between AKFP and AFH, with settlement in Aker ASA ( Aker ) shares (the Merger ). The terms of the Merger indicated an exchange rate of shares in Aker for each Share in AKFP based on a 20 days volume weighted average price foregoing the Merger proposal date of November 4 th Further to this, AKFP also communicated that the expected time of completion of the Merger would be the end of February 2012, subject to the required creditor notice period as well as required third party consents. AKFP has informed AFH that not all required third party consents have been obtained so far, and although it is expected that all necessary consents will ultimately be obtained, there is uncertainty regarding the timing. As previously communicated, the Merger, which will provide for AKFP becoming fully integrated in the Aker group, is an important step in order to strengthen the financial position and outlook of AKFP and its operations. It is the view of AFH and Aker that it will not be beneficial to the interest of any of the involved parties, including the Shareholders, that the completion of such intergration is subject to a lengthy delay. On this basis AFH have come to consider the process towards such third parties as too lengthy, and without a firm end date for this it is the view of AFH that the Shareholders should be given the opportunity to avoid waiting any longer for the required third party consents to be obtained. It has therefore been decided to present an offer with settlement in cash as an alternative to the Merger. The decision to merge AKFP and AFH will however remain in effect and the Merger can accordingly still be completed should the third party approvals be obtained. It is important for AFH and Aker to ensure that the compensation offered to Shareholders is still considered as fair for the Shareholders, and is therefore proposing an Offer Price per Share in AKFP based on the highest endof-day closing price after the announcement of the Merger, which was NOK 3.63/share on 28 th of February As the Offer is a cash offer, the Shareholders will receive their settlement no later than 5 Business Days following expiry of the Offer Period, as set out in section 2.6 Conditions. In light of the current Aker share price, it is the view of AFH and Aker that the Offer is at least as attractive for the Shareholders as the exchange rate offered in the Merger. In the event that the required third party approvals as described above are obtained during the Offer Period, the Offerer can decide to withdraw the Offer. The Offer is not being made in any jurisdiction where the making or Acceptance of the Offer would be a violation of the laws of such jurisdiction. Shareholders resident outside of Norway are referred to the section entitled Restrictions on page Aker Floating Production ASA AKFP is a Norwegian public limited liability company incorporated under the laws of Norway. The Company is registered with the Register of Business Enterprises with registration number and has its registered address at Drammensveien 147 A, 0277 Oslo. AKFP s Shares are listed on Oslo Børs with ticker code AKFP, and are registered in VPS with ISIN NO

6 OFFER TO PURCHASE SHARES Aker Floating Production ASA As of the date of this Offer Document AFH owns Shares in AKFP, which represents approximately % of all outstanding Shares. The Offer comprises the remaining Shares in the Company. Following the approval of the Merger AKFP have presented their results for fourth quarter Reference is made to stock exchange notice from AKFP of 17 February AKFP have also subsequently informed AFH that it is no longer actively pursuing a conversion contract for the Aker Smart 2 hull. 2.3 The Offeror The Offer is made by AFH. AFH is a private limited liability company incorporated under the laws of Norway with registration no and registered address Fjordalléen 16, 0250 Oslo, Norway. AFH is a wholly owned subsidiary of Aker. 2.4 Offer Price The Offer Price is NOK 3.63 per Share in cash, in accordance with the terms of this Offer. The Offer Price values all Shares in the Company not held by AFH accumulated at NOK 22.1 million. As described above, AFH has determined the Offer Price based on the highest end-of-day closing price following the announcement of the Merger, which was NOK 3.63/share on 28 th of February Offer Period The Offer Period under the Offer is from and including 2 March 2012 to 17:30 (Norwegian time) on 12 March 2012 (or such date and time to which the Offeror shall have extended the Offer Period) during which the Offer can be accepted. AFH reserves the right to approve Acceptances that are received after the expiration of the Offer Period, and at any time extend the Offer Period one or several times. The Offeror will at the end of the Offer Period make a public announcement informing about the level of acceptances in the Offer. 2.6 Conditions The Offer is subject to the following conditions (the Conditions ) being met or waived by the Offeror: (a) (b) validly tendered Acceptances being received by the Offeror from Shareholders constituting so many Shares that AFH when adding such Shares to their existing Shares in AKFP will own more than 90 % of the entire issued and outstanding share capital and voting rights in the Company at the end of the Offer Period; and any required third party approvals of the Merger is still outstanding. AFH reserves the right to, either in whole or part and at its own discretion, waive any or all of the Conditions to the Offer. The Offer will lapse and any Acceptors shall be released from their Acceptances if the Offeror prior to the end of the Offer Period publicly announces that all required third party approvals of the Merger has been obtained and that the Offer is withdrawn. The Offer will also lapse if the Offeror after the end of the Offer Period announces publicly that not all of the Conditions are satisfied or have been waived by the Offeror. 5

7 2.7 Acceptance of the Offer OFFER TO PURCHASE SHARES Aker Floating Production ASA In order for a Shareholder to accept the Offer, the Acceptance Form must be fully and correctly filled out, signed and received by the Receiving Agent before 17:30 (Norwegian time) on 12 March 2012, (or at such later date and/or time to which the Offer Period is extended). The Acceptance Form sets out details on the settlement and the transfer of the AKFP Shares tendered. The Acceptance Form is enclosed in Appendices 1 (English) and 2 (Norwegian) to this Offer Document. The Acceptance Form shall be correctly and fully completed and signed, and sent, faxed or delivered to the Receiving Agent: Arctic Securities ASA P.O. Box 1833 Vika 0123 Oslo Norway Tel: (+47) Fax: (+47) settlement@arcticsec.no Acceptance of the Offer is binding for the Acceptor from the time it is received by the Receiving Agent and no withdrawal of such Acceptance will be permitted. The Acceptance must be received by the Receiving Agent within the end of the Offer Period. Neither the Offeror nor the Receiving Agent will be responsible for any delay in the postal system or for Acceptance Forms forwarded by fax that are not received in time. The Offeror reserves the right to accept Acceptance Forms received after the end of the Offer Period, but will not be obligated to accept such late Acceptances. Shareholders who own Shares registered on more than one VPS account will receive a separate Acceptance Form for each account and are required to submit a separate Acceptance Form for each account. The Acceptance covers all Shares stated on the Acceptance Form, as well as any Shares which, in addition to the number of Shares stated on the Acceptance Form, have been or will be acquired prior to the settlement of the Offer, and which will be registered on the VPS account stated on the Acceptance Form. Any Shareholder whose Shares are registered in the name of a broker, dealer, commercial bank, trust company or other nominee must contact such person if such Shareholder desires to accept the Offer for such Shares. In order for the Shareholder to validly accept the Offer and become an Acceptor, the Acceptance Form must be signed by the Shareholder or the authorised attorney of such Shareholder. The Shares shall be transferred to AFH free and clear of any encumbrances and third party rights whatsoever attached to them. If there are registered rights holders on the VPS account of an Acceptor of the Offer, such rights holders must, by signature on the Acceptance Form, consent to the Shares being transferred to AFH free and clear of such encumbrances. Procuring consent from the rights holder is the sole risk and responsibility of the Acceptor. Acceptances are only valid if made by way of a fully and correctly completed Acceptance Form being returned to the Receiving Agent within the end of the Offer Period. The Offeror and the Receiving Agent reserve the right, at their own discretion, to accept or refuse any improperly completed, delivered, sent or executed Acceptance Forms, or any Acceptance that may be unlawful. Returning the Acceptance Form to the printed return address or fax number will imply that the Shareholder has accepted the Offer on the terms described in this document, and has agreed to sell such of the Shareholder s Shares on the terms set forth herein and on the Acceptance Form. 6

8 OFFER TO PURCHASE SHARES Aker Floating Production ASA By executing, sending and delivering the Acceptance Form, each Acceptor irrevocably authorises the Receiving Agent to block the Shares covered by the Acceptance in favour of the Receiving Agent on behalf of the Offeror. It will not be possible for Acceptors to administer the Shares after blocking has been established. All Shareholder rights attached to the Shares shall, to the extent permitted under Norwegian law, be vested with the Acceptors until completion of share purchases pursuant to the agreements created by Acceptances of the Offer. The blocking will only be in effect in relation to the Shares encompassed by the Acceptance and will not have any effect on other securities which are registered at the same VPS account. The Receiving Agent is given irrevocable authorisation to transfer the Shares encompassed by the Acceptance from the Acceptor s VPS account to a VPS account in the name of AFH upon settlement of the Offer. 2.8 Shareholder Rights Acceptors of the Offer will not be able to dispose of the Shares covered by the Acceptances after the Shares have been blocked as described above. Acceptors of the Offer will, however, remain owners of their Shares, including retaining their right to vote for their Shares and other shareholder rights, until settlement pursuant to the Offer is completed. 2.9 Settlement Settlement of the Offer is expected to take place no later than 5 Business Days following expiry of the Offer Period, or if later, no later than 5 Business Days following the announcement of fulfilment or waiver of the conditions in section 2.6 Conditions above (the Settlement Date ). If the Offer Period is extended, the Settlement Date will be postponed correspondingly, however, the last possible Settlement Date will be 16 April Upon settlement, the Offeror will transfer the relevant amount for the Shares tendered in the Offer to a client account with the Receiving Agent. At the same time, the Shares tendered will be transferred to the Offeror. The Receiving Agent will then immediately make payments of the relevant amounts to the Acceptors. Payment will be made in cash in NOK, by way of transfer to the Acceptor s bank account registered in VPS for dividend payments. In the absence of such account, settlement will be made by way of postal cheque (or currency cheque for Acceptors with a non-norwegian address). Interest compensation will neither be paid for the period from the date of Acceptance until the Settlement Date, nor will interest compensation be paid to the Acceptors if the Offer Period is extended. In the Offer lapses as described in section 2.6, settlement will not take place and any blocking imposed over Shares covered by Acceptances will be released Compulsory Acquisition If, as a result of the Offer or otherwise, the Offeror acquires and holds more than 90 per cent of the total issued and outstanding Shares representing more than 90 per cent of the voting rights in the Company, then the Offeror will have the right (and each remaining Shareholder would have the right to require the Offeror) to initiate a compulsory acquisition of remaining Shares not owned by the Offeror pursuant to section 4-25 of the Companies Act. If the relevant threshold is met, as a result of the Offer or otherwise, the Offeror intends to carry out such compulsory acquisition of the remaining Shares in accordance with applicable laws and regulations. 7

9 2.11 Delisting of the Shares OFFER TO PURCHASE SHARES Aker Floating Production ASA In the event the Offer is completed, AFH intends to propose to the general meeting of AKFP that an application be made to Oslo Børs to delist the Shares from Oslo Børs. The approval of such application would require the approval by a 2/3 majority of votes cast and the share capital represented at such general meeting. In order to delist the Shares, the application must be approved by Oslo Børs after a consideration of the effects de-listing may have for minority shareholders. Oslo Børs may also on its own initiative resolve to de-list the Shares, should AKFP no longer fulfill the requirements for listing (e.g. such as the number of remaining shareholders) Governing law - Jurisdiction The Offer, the Offer Document and any Acceptance thereof are subject to Norwegian law. Any dispute arising out of or in connection with the Offer or the Offer Document shall be subject to the exclusive jurisdiction of the Norwegian courts with Oslo City Court as the agreed legal venue. 8

10 OFFER TO PURCHASE SHARES Aker Floating Production ASA 3. Norsk sammendrag (Norwegian summary) Aker Floating Holding AS ( AFH eller Tilbyder ) fremsetter herved et tilbud ( Tilbudet ) om erverv av samtlige aksjer ( Aksjene ) i Aker Floating Production ASA ( AKFP eller Selskapet ) som ikke allerede eies av AFH. 3.1 Tilbudet I en ekstraordinær generalforsamling avholdt i AKFP den 12. desember 2011 godkjente AKFPaksjonærene ( Aksjonærene ) en trekantfusjon ( Fusjonen ) mellom Tilbyder og AKFP med vederlagsaksjer utstedt av Aker ASA ( Aker ), planlagt gjennomført i slutten av februar 2012, forutsatt blant annet at alle nødvendige tredjepartssamtykker ble gitt. Per dags dato er ikke samtlige nødvendige samtykker på plass. Selv om det er ventet at de nødvendige samtykker vil kunne innhentes, er det usikkerhet rundt når dette vil være avklart. Som tidligere kommunisert er det ansett som viktig for den økonomiske situsjonen til AKFP at de integreres fullt ut i Aker konsernet. I denne forbindelse er AFh og Aker av den oppfatning at prosessen med å avvente tredjepartssamtykkene trekker for mye ut i tid. På denne bakgrunn har AFH derfor besluttet å tilby Aksjonærene et kontantoppgjør som et alternativ til Fusjonen. Dersom de nødvendige tredjepartssamtykker for Fusjonen blir gitt i Akseptperioden (definert nedenfor), kan imidlertid Tilbyder velge å tilbakekalle Tilbudet. 3.2 Tilbudsprisen Tilbudet er på NOK 3,63 per Aksje ( Tilbudsprisen ), med kontant oppgjør. Tilbyder har fastsatt Tilbudsprisen basert på den høyeste sluttkursen på Oslo Børs oppnådd for AKFP aksjen etter at Fusjonen ble kunngjort, som var NOK 3,63/aksje den 28. februar Akseptperioden Akseptperioden er fra og med 2. mars 2012 til og med kl den 12. mars 2012 ( Akseptperioden ). Akseptperioden kan når som helst og flere ganger forlenges. Tilbyder forbeholder seg eksplisitt retten til å godta aksepter som mottas etter utløpet av Akseptperioden. 3.4 Vilkår for gjennomføring av Tilbudet Gjennomføringen av Tilbudet er betinget av at følgende vilkår er oppfylt eller frafalles av Tilbyder: a) Tilbyder må ha mottatt gyldige aksepter for aksjer fra AKFP-aksjonærer for et totalt antall AKFP-aksjer som utgjør mer enn 90 % av det totale antall aksjer og stemmer i AKFP ved utløpet av Akseptperioden; og b) nødvendige tredjepartssamtykker til Fusjonen er ikke mottatt. Tilbudet faller bort og mottatte aksepter frigis dersom Tilbyder offentliggjør at samtlige nødvendige tredjepartssamtykker til Fusjonen er mottatt og at Tilbyder derfor ikke ønsker å gjennomføre Tilbudet. Tilbudet faller også bort dersom Tilbyder offentliggjør at ikke alle betingelsene for Tilbudet er oppfylt eller frafalt. 3.5 Fremgangsmåte for aksept av Tilbudet For at en Aksjonær skal anses for å ha akseptert Tilbudet, må akseptformularet vedlagt Tilbudsdokumentet fylles ut og undertegnes og returneres til Arctic Securities ASA ( Oppgjørsagenten ) som angitt i akseptformularet slik at det er Oppgjørsagenten i hende innen utløpet av Akseptperioden. Akseptformularet kan inngis Oppgjørsagenten ved post, personlig levering eller faks. Aksept av Tilbudet er ugjenkallelig, og kan hverken helt eller delvis trekkes tilbake etter at Oppgjørsagenten har mottatt aksepten. Tilbyder forbeholder seg retten til å akseptere feil utfylte eller for sent innkomne akseptformularer, men er ikke forpliktet til å gjøre dette. Samtlige Aksjer som blir ervervet under Tilbudet må overføres fri for enhver heftelse. Tredjeparter som har rettigheter i Aksjene må signere akseptformularet før VPS-kontoen debiteres. 9

11 OFFER TO PURCHASE SHARES Aker Floating Production ASA Ved aksept av Tilbudet, gir Aksjonæren Oppgjørsagenten fullmakt til å debitere den aktuelle VPSkontoen og overføre Aksjene til Tilbyder mot betaling av Tilbudsprisen. Videre gir Aksjonæren Oppgjørsagenten fullmakt til å sperre de Aksjene som er gjenstand for aksepten til fordel for Oppgjørsagenten. Endelig gis Oppgjørsagenten fullmakt til å overføre Aksjene til Tilbyder mot betaling av Tilbudsprisen. Dersom Tilbudet kanselleres vil sperringen opphøre. Det vil ikke være anledning for Aksjonærer til å disponere Aksjene når de er sperret. Aksjonærer som aksepterer Tilbudet vil beholde sine aksjonærrettigheter knyttet til Aksjene i den utstrekning det er tillatt under gjeldende lover og regler inntil Tilbudet er gjennomført. 3.6 Oppgjør Oppgjør vil skje innen 5 virkedager etter utløpet av Akseptperioden, eller, dersom Akseptperioden utvides, innen 5 virkedager etter Tilbyder har kunngjort at betingelsene beskrevet i punkt 3.4 (Vilkår for gjennomføringen av Tilbudet) har blitt oppfylt eller frafalt. Den siste mulige dag for Oppgjøret er 16. april Ved gjennomføring av oppgjør vil det aktuelle beløpet bli overført til de bankkontoene som de aktuelle Aksjonærene, på aksepttidspunktet, var registrert med som utbyttekonto i VPS. For det tilfelle at det ikke er registrert slik bankkonto, blir oppgjør foretatt ved bankgiro eller sjekk. 3.7 Tvangsinnløsning Dersom Tilbyder som følge av Tilbudet blir eier av mer enn 90 % av aksjene i AKFP, kan og vil Tilbyderen kreve at det gjennomføres tvangsoverføring av de gjenværende Aksjene etter allmennaksjelovens regler. 3.8 Strykning fra Oslo Børs Dersom Tilbudet gjennomføres, har Tilbyder til hensikt å foreslå for selskapets generalforsamling at det inngis en søknad til Oslo Børs om å stryke AKFP-aksjen fra notering. 3.9 Lovvalg og verneting Tilbudet, Tilbudsdokumentet og alle akseptene er underlagt norsk rett med Oslo tingrett som verneting. 10

12 Appendix 1 OFFER TO PURCHASE SHARES Aker Floating Production ASA Acceptance Form This Acceptance Form shall be used in order to accept the Offer (the Offer ) by Aker Floating Holding AS ( AFH ) to purchase all issued and outstanding shares in Aker Floating Production ASA not already owned by AFH on the terms and conditions set forth in the Offer Document dated 2 March 2012 to which this form is attached. Shareholder: RETURN TO: Arctic Securities ASA P.O. Box 1833 Vika, 0123 Oslo, Norway Tel: (+47) Fax: (+47) settlement@arcticsec.no The shareholders registry of Aker Floating Production ASA at 28 February 2012 shows: VPS-account: Bank account number for cash payment: No. of shares: Rights holders registered: ACCEPTANCE DEADLINE: THIS ACCEPTANCE FORM MUST BE RECEIVED BY ARCTIC SECURITIES ASA BY 17:30 (NORWEGIAN TIME) ON 12 MARCH SHAREHOLDERS WITH SHARES IN AKER FLOATING PRODUCTION ASA DISTRIBUTED AMONG SEVERAL VPS ACCOUNTS WILL RECEIVE ONE ACCEPTANCE FORM FOR EACH SUCH VPS ACCOUNT. ACCEPTING SHAREHOLDERS MUST FULLY AND CORRECTLY COMPLETE AND RETURN ALL ACCEPTANCE FORMS RECEIVED WITHIN THE ACCEPTANCE DEADLINE. AFH RESERVES THE RIGHT TO REJECT ANY OR ALL INCORRECT OR ILLEGALLY UNDERTAKEN ACCEPTANCES. To AFH and Arctic Securities ASA: 1. I/We confirm that I/we have received and reviewed the Offer for all my/our shares in Aker Floating Production ASA in accordance with the terms and conditions set forth in the Offer Document. My/our Acceptance also comprises any shares in Aker Floating Production ASA which I/we, in addition to the number of shares stated above, have acquired or will acquire prior to the deadline of the Acceptance of the Offer and which will be registered in the VPS on the above stated account. 2. I/We accept that I/we may not sell, otherwise dispose, encumber or transfer to another VPS account, the shares in Aker Floating Production ASA tendered hereunder. Arctic Securities ASA is irrevocably authorised to restrict the shares in Aker Floating Production ASA on the above-mentioned VPS account in favour of Arctic Securities ASA on behalf of AFH. 3. Arctic Securities ASA is given irrevocable authorisation to effectuate transfer of the shares from my/our VPS-account to AFH upon completion of the Offer. 4. I/We accept that settlement in the form of cash will be made by way of transfer to the bank account registered on the VPS account for dividend payment. In the absence of such account, settlement will be made by way of postal cheque (or currency cheque for shareholders with a non-norwegian address). 5. My/Our shares in Aker Floating Production ASA are transferred free of any encumbrances and any other third party right whatsoever and with all shareholder rights attached to them. Any third party with registered encumbrances or other third-party rights over my/our shares in Aker Floating Production ASA and/or VPS account(s) must sign the Acceptance Form and thereby waive their rights therein and approve the transfer of the shares in Aker Floating Production ASA to AFH free of any encumbrances and any other third party right whatsoever. I/We acknowledge that this Acceptance may only be regarded to be valid if any registered holders of rights have given written consent on this Acceptance Form that the shares are tendered and may be transferred to AFH free of any such rights (this is done by inserting YES in the box Rights holders registered above at the right hand side of this form and by signing below). 6. This Acceptance Form and the Offer is governed by Norwegian law. Any dispute in connection with the Offer is subject to the exclusive jurisdiction of the Norwegian courts, with the Oslo City Court as the agreed venue. 7. Capitalised terms used herein shall, save as expressly defined herein, have the same meaning as ascribed thereto in the Offer Document. 8. I/We understand and agree that the Offer is not being made to, nor will tenders be accepted from or on behalf of Aker Floating Production ASA s shareholders in any jurisdiction in which the making of the Offer or Acceptance thereof would not be in compliance with the laws of such jurisdiction, including but not limited to United States, Canada, Australia, Japan and the Cayman Islands. I/We confirm that my/our Acceptance of the Offer is not restricted according to the laws of the jurisdiction applicable to me/us. Place Date Telephone no. Signature *) *) If signed pursuant to proxy, a proxy form or company certificate confirming the authorised signature must be enclosed Rights holder(s): In the event that there is registered holder(s) of rights on the VPS-account this is marked with a YES above on right-hand box of this Acceptance Form. As holder(s) of rights the undersigned consents that the transaction is undertaken on the above-mentioned terms. Place Date Telephone no. Rights holder s signature *) *) If signed pursuant to proxy, a proxy form or company certificate confirming the authorised signature must be enclosed. 11

13 Appendix 2 OFFER TO PURCHASE SHARES Aker Floating Production ASA Akseptformular Til bruk ved aksept av tilbudet ( Tilbudet ) fra Aker Floating Holding AS ( AFH ) om kjøp av samtlige aksjer i Aker Floating Production ASA som ikke allerde eies av AFH på de vilkår som er inntatt i Tilbudsdokument datert 2. mars 2012 ( Tilbudsdokumentet ). Aksjeeier: Returneres til: Arctic Securities ASA P.O. Box 1833 Vika, 0123 Oslo, Norway Tel: (+47) Fax: (+47) settlement@arcticsec.no Aksjeeierregisteret til Aker Floating Production ASA per 28. februar 2012 viser: VPS-konto: Bankkonto for utbetaling: Antall aksjer: Rettighetshaver AKSEPTFRIST: Dette akseptformularet må være mottatt av Arctic Securities ASA innen kl (Norsk-tid) den 12. mars Aksjeeiere som har aksjer i Aker Floating Production ASA fordelt på flere VPS-konti, vil motta ett akseptformular for hver VPS-konto. Aksjonærer som aksepterer tilbudet, må fylle ut og returnere alle mottatte akseptformular innen akseptfristens utløp. AFH forbeholder seg retten til å avslå enhver eller alle aksepter utført på feil eller ulovlig måte. Til AFH og Arctic Securities ASA: 1. Jeg/vi har mottatt og gjennomgått Tilbudet og aksepterer Tilbudet på de vilkår som er inntatt i dette. Min/vår aksept gjelder alle mine/våre Aker Floating Production ASA aksjer. Min/vår aksept omfatter også alle Aker Floating Production ASA aksjer som jeg/vi - i tillegg til aksjene nevnt ovenfor - har ervervet eller vil erverve og som blir registrert i VPS på ovennevnte konto. 2. Jeg/vi aksepterer at jeg/vi ikke kan selge eller på annen måte avhende, pantsette eller overføre til en annen VPS-konto de aksjer som omfattes av aksepten. Arctic Securities ASA gis ugjenkallelig fullmakt til å båndlegge Aker Floating Production ASAaksjene på ovennevnte VPS-konto i favør av Arctic Securities ASA på vegne av AFH 3. Arctic Securities ASA gis en ugjenkallelig fullmakt til å overføre aksjene fra min/vår VPS-konto til AFH ved gjennomføringen av Tilbudet. 4. Jeg/vi aksepterer at oppgjør i penger gjennomføres ved overføring til utbyttekonto registrert på VPS-kontoen. I fravær av slik konto vil oppgjør skje i form av giroanvsining (eller valutasjekk for utenlandske aksjonærer). 5. Mine/våre aksjer i Aker Floating Production ASA vil bli overført fri for heftelser eller noen annen rett for tredjemann og med alle tilhørende aksjonærrettigheter. Alle tredjemenn med registrert pant eller andre rettigheter til Aker Floating Production ASA-aksjene og/eller VPS-konto (eller VPS-konti), må undertegne akseptformularet og derved gi avkall på sine rettigheter i Aker Floating Production ASA-aksjene og godkjenne at Aker Floating Production ASA-aksjene overføres til AFH fri for tilhørende pant eller rettigheter for tredjemann. Jeg/vi erkjenner at denne aksepten bare kan anses som gyldig hvis alle eventuelle registrerte innehavere av rettigheter skriftlig på dette akseptformularet samtykker til at aksjene som omfattes av denne aksepten, overføres til AFH fri for slike rettigheter (dette gjøres ved å skrive et "JA" under boksen "Rettighetshaver innmeldt" ovenfor på høyre side på dette formularet og ved å undertegne nedenfor). 6. Akseptformularet og Tilbudet er underlagt norsk rett. Tvister i forbindelse med tilbudet er underlagt norske domstolers eksklusive jurisdiksjon, med Oslo tingrett som avtalt verneting. 7. Alle definerte begreper i dette akseptformularet skal, med mindre de er eksplisitt definert i dette formularet, tillegges samme betydning som i Tilbudsdokumentet. 8. Jeg/vi forstår og er enig i at Tilbudet ikke vil bli fremmet til og at aksepter ikke vil bli akseptert fra eller på vegne av aksjeeiere i Aker Floating Production ASA i jurisdiksjoner hvor det vil være i strid meg lovgivningen å fremme Tilbudet eller å akseptere aksepter av det, inkludert men ikke begrenset til USA, Canada, Australia, Japan og Cayman Islands. Jeg/vi bekrefter at min/vår aksept av Tilbudet ikke strider mot lovgivningen i den jurisdiksjon jeg/vi er underlagt. Sted Dato Telefon Underskrift *) *) Hvis undertegning skjer ved fullmektig, må fullmakt eller firmaattest som bekrefter fullmektigens underskrift, legges ved. Rettighetshaver(e): Hvis det finnes én eller flere registrerte innehavere av rettigheter på VPS-kontoen, så er dette markert ved et "JA" under boksen "Registrert rettighetshaver" ovenfor på høyre side av dette formularet. Som innehaver av rettigheter, samtykker undertegnede til at transaksjonen gjennomføres på de ovennevnte vilkår. Sted Dato Telefon Rettighetshavers underskrift *) *) Dersom underskrift skjer ved fullmektig, må fullmakt eller firmaattest som bekrefter fullmektigens underskrift legges ved. 12