Result of share buyback in Norwegian Energy Company ASA
NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR OTHER MEASURES.
Reference is made to the stock exchange release of Norwegian Energy Company ASA (“Noreco” or the "Company") dated 20 January 2020 concerning an offer to buy back shares in connection with the Company's option programme as well as for other corporate purposes (the “Offer”). The Offer expired on 22 January 2020 at 16:30 (CET).
The Company has resolved to buy back 299,925 shares at a price of NOK 242 per share. The price was determined through a book building process. The trade date for the shares will be on 23 January 2020 (T) and settlement will take place on 27 January 2020 (T+2).
Upon settlement, the Company will own 299,925 shares, corresponding to 1.22 per cent of the share capital and votes in the company. Following this buyback, Noreco will have remaining authority to buy back 419,548 of its own shares until 28 June 2020.
Arctic Securities AS (“Arctic”) and Fearnley Securities AS (“Fearnley”) (together, the “Bookrunners”) acted as bookrunners in connection with the buyback.
For further information, please contact:
Euan Shirlaw, CFO, +44 7979 690 622
Frederik Rustad, EVP, Corporate Finance & Investments, +47 922 94 999
E-mail: investorrelations@noreco.com
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About Norwegian Energy Company ASA
Noreco is a publicly owned company with focus on the oil, gas and offshore industry. The Company's shares are listed on the Oslo Stock Exchange (ticker NOR). For further information, please visit: www.noreco.com.
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.
The buyback and the distribution of this announcement and other information in connection therewith may be restricted by law in certain jurisdictions, and the buyback is not made in any jurisdiction in which this would be unlawful, require registration or other measures. The Company does not assume any responsibility in the event there is a violation by any person of such restrictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions.
The buyback is not being made directly or indirectly in, or by use of the mails of, or by any means or instrumentality of interstate or foreign commerce of, or any facilities of a national securities exchange of, the United States of America, its territories and possessions, any State of the United States and the District of Columbia (the "United States") or any other jurisdiction in which this would be unlawful. This includes, but is not limited to, facsimile transmission, internet delivery, e-mail, telex and telephones. Accordingly, copies of this release and any related documents are not being, and must not be, mailed, e-mailed or otherwise distributed or sent in or into the United States and so doing may invalidate any purported sales offer.