Subsequent offering – last day of subscription period
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES
Stavanger, 13 January 2014: Reference is made to previous stock exchange announcements from Norwegian Energy Company ASA ("Noreco" or the "Company", ticker "NOR") concerning the subsequent repair offering of up to NOK 100 million (the "Subsequent Offering").
As previously announced, the subscription period for the Subsequent Offering will expire at 16:30 hours (CET) today, 13 January 2014. Subscription rights not used to subscribe for shares in the Subsequent Offering before the end of the subscription period will lapse without compensation to the holder, and consequently be of no value.
The subscription price per offer share is NOK 0.10, equal to the subscription price in the NOK 430 million private placement completed in December 2013. Over subscription and subscription without subscription rights is allowed. For further information about the Subsequent Offering, reference is made to the prospectus dated 20 December 2013 which (together with subscription form) is available at www.noreco.com, www.arcticsec.no, www.paretosec.com or www.swedbank.no. Any questions or requests for assistance concerning the offering should be directed to the Joint Bookrunners: Arctic Securities ASA, Pareto Securities AS and Swedbank.
Ørjan Gjerde, CFO (+47 900 35 738)
This press release does not constitute an offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be offered or sold in the United States absent registration or an exemption from registration as provided in the U.S. Securities Act of 1933, as amended. The Company does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this announcement are not being made and may not be distributed or sent into the Australia, Canada, Japan or the United States.
Certain statements contained herein that are not statements of historical fact, may constitute forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual results or events concerning the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. Although Noreco has attempted to identify important factors that could cause actual events or results to differ from those described in forward-looking statements contained herein, there can be no assurance that the forward-looking statements will prove to be accurate as actual future events could differ materially from those anticipated in such statements. Except as may be required by applicable law or stock exchange regulation, Noreco undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events.
About Norwegian Energy Company ASA
Noreco is an independent Norwegian oil company. The company's focus is to explore, develop and produce oil and gas in the North Sea region. Since incorporation in 2005, the company has grown through license rounds, successful exploration and acquisitions. Noreco operates in Norway, Denmark and United Kingdom, and employs around 70 oil and gas professionals. Noreco is listed on the Oslo Børs (ticker NOR). For further information, please visit: www.noreco.com