Ezra Holdings Limited – completed conditional sale of shares in EOC Limited
Reference is made to the press release made by Ezra Holdings Limited (“Ezra”) on 10 September regarding its potential sale of shares in EOC Limited (“EOC”).
Ezra received orders to buy up to 36,413,500 shares at a price of NOK 22 per share. The price was determined through a bookbuilding process conducted by Pareto Securities as manager for the transaction.
The settlement and delivery of the shares is conditional upon EOC obtaining the minimum number of shareholders in order to be listed on the Oslo Børs ASA (main list).
Ezra will offer additional shares to be placed through a retail offering in the Norwegian market in order for EOC to create the necessary free float and obtaining the number of round lot holders necessary for EOC to fulfill the listing conditions on the Oslo Børs ASA. It is anticipated that such retail offering will commence on Monday 24 September and end on Friday 28 September 2007, conditioned upon a prospectus being approved by Oslo Børs.
The shares conditionally sold in the Private Placement will be settled and delivered subsequent the offer period for the retail offering. In the event EOC does not obtain the necessary number of round lot holders, no shares will be sold by Ezra.
Ezra will subsequent to the private placement (if completed) own a total of 61,226,462 shares constituting approximately 55.2% of the share capital in EOC. The retail offering will further reduce their holdings.
EOC expects to list on the Oslo Børs on or about 3 October 2007.