DNO ASA NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA, JAPAN, SOUTH AFRICA OR THE UNITED STATES, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.
Oslo, 27 March 2015 - DNO ASA, the Norwegian oil and gas operator, announced today that the Company has decided not to initiate a repair offering following the successful completion of a NOK 975 million offering of new shares and treasury shares on 10 March 2015.
Since the completion of the offering, 137.29 million DNO shares have traded on the Oslo Stock Exchange, with an average daily trading volume of 10.56 million shares, and at closing prices ranging from NOK 11.20 to NOK 12.81. Shareholders therefore have had an extended period to neutralize the dilution effect of the offering by purchasing DNO shares in the open market at a price below the subscription price of NOK 13.25 per share.
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For further information, please contact:
Media: media@dno.no:
mailto:media@dno.no
Investors: investor.relations@dno.no:
mailto:investor.relations@dno.no
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IMPORTANT NOTICE:
This announcement is not and does not form a part of any offer for sale of securities.
This notice is not for distribution to United States news services or for dissemination in the United States, Canada, Japan, the Hong Kong Special Administrative Region of the People's Republic of China, South Africa or Australia or elsewhere where such dissemination would be unlawful or would require registration or other measures.
The distribution of this announcement and other information in connection with the Offering and the Repair Offering may be restricted by law in certain jurisdictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions.
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DNO ASA is an Oslo-listed, Middle East and North Africa focused oil and gas company holding stakes in 20 blocks in various stages of exploration, development and production both onshore and offshore in the Kurdistan Region of Iraq, the Republic of Yemen, the Sultanate of Oman, the United Arab Emirates, the Tunisian Republic and Somaliland.
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This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: DNO ASA via Globenewswire
