Nautilus Marine Serv (LON:NAUT) Notice of Conversion of Convertible Loan Note

Nautilus Marine Services PLC (AIM: NAUT), announces that on 10 January 2019, the Company received notice from McLarty Capital Partners (“McLarty”) to convert the US$7,640,000 Convertible A Loan Notes (as defined and described in the Company’s AIM Admission Document published on 16 January 2017)

lnto 12,524,590 ordinary shares in the capital of the Company (“Ordinary Shares”) at a price of 50 pence per Ordinary Share at a fixed exchange rate of GBP1/US$1.22 (the “Conversion”).

As a result of the proposed Conversion, McLarty will hold 12,524,590 Ordinary Shares in the Company, representing 25.75 per cent. of the Company’s issued share capital as enlarged by the Conversion.

Application has been made to the London Stock Exchange of 12,524,590 Ordinary Shares in respect of the Conversion, which will rank pari passu with the existing Ordinary Shares, to be admitted to trading on AIM (“Admission”), and it is expected that Admission will occur on or around 16 January 2019.

Following Admission the Company will have 48,636,777 Ordinary Shares in issue. The Company does not hold any Ordinary Shares in treasury. Therefore, the number of Ordinary Shares with voting rights in the Company will be 48,636,777. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA’s Disclosure Guidance and Transparency Rules sourcebook.

Capitalised terms not otherwise defined in this announcement shall have the same meaning ascribed to such terms in the AIM Admission Document of 16 January 2017 unless the context requires otherwise.

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Nautilus is a highly-liquid company with capital access and available cash resources, and our vision is to build a global inspection and repair group servicing the offshore energy sector.

Leveraging our wealth of international operations, financial, management, and turn-around experience, we seek to build a service group by investing in pace-changing offshore service providers and technologies to realise substantial value for our shareholders.

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