Badger Explorer ASA - Exercise of Employee Share Options in Badger Explorer ASA
On 4 November 2011 participants in the Company's share option program have exercised a total number of 8 333 share options. Following the share option exercise, the Board of Directors has resolved to increase the Company's share capital from NOK 2 316 119.375 to NOK 2 317 161 by issuing 8 333 new shares at a par value of NOK 0.125.
After the share increase the Company's share capital will amount to NOK 2 317 161 divided into 18 537 288 shares.
The pre-emption rights of existing shareholders have been waived to be able to carry out a share incentive scheme for the Company's employees.
The share capital increase will be registered in the Norwegian Register of Business Enterprises (Foretaksregisteret) as soon as practically possible.
Stavanger, 7 November 2011
For further information, please contact:
David W. Blacklaw, CEO, cell phone +47 406 44 010, office +47 52 97 45 50
Gunnar Dolven, CFO, cell phone +47 908 53 168, office +47 52 97 45 40
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