Completed Private Placement of Equity
(Thomson Reuters ONE) -
Reference is made to the stock exchange notice dated 17 November 2010 regarding
a contemplated private placement of up to 45 million new shares in DNO directed
towards Norwegian and international institutional investors. The Board of
Directors (the "Board") of DNO is pleased to announce that the Private Placement
has been successfully subscribed for and allocated.
The book-building period for the private placement closed on 17 November 2010 at
19:30 CET and the Board has resolved to allocate 45 million new shares at a
subscription price of NOK 8 per share. Gross proceeds amount to approximately
NOK 360 million. The private placement was more than 100 per cent oversubscribed
at the subscription price. Allocation notices will be sent today, 18 November
2010. Payment of shares and delivery is expected to be 23 November 2010.
Use of proceeds from the private placement will be exploration and appraisal
drilling beyond the current investment plans, new license entries and general
corporate purposes. The Board of DNO resolved to waive pre-emptive rights for
existing shareholders in the private placement to utilize an opportunity to
capitalize the Company in the current capital market based on an accelerated
book building process.
- DNO is entering an exciting period and has earlier announced at least five
exploration wells to be drilled over the next year. Through this placement we
are providing sufficient cash for exploration and appraisal drilling beyond the
previously communicated investment plans. Additionally, the placement further
strengthens the balance sheet, allowing us also to actively seek new license
entries going forward, says Managing Director Helge Eide.
The Private Placement was managed by ABG Sundal Collier Norge ASA as Lead
Manager and sole bookrunner and DnB NOR Markets as Co-Manager.
Oslo, 18 November 2010
DNO International ASA
Corporate Communications
Contacts:
Media:
Communication Director Tom Bratlie
Phone: +47 905 21 904
Financial market:
CFO Haakon Sandborg
Phone: +47 23 23 84 80
IMPORTANT NOTICE:
This notice is not for distribution to United States new services or for
dissemination in the United States, Canada, Japan or Australia or elsewhere
where such dissemination is not appropriate.
The contents of this announcement have been prepared by and are the sole
responsibility of DNO International ASA ("DNO"). ABG Sundal Collier Norge ASA
and DnB NOR Markets are acting exclusively for DNO and no one else and will not
be responsible to anyone other than DNO for providing the protections afforded
to their respective clients, or for advice in relation to the contemplated
Private Placement and the contents of this announcement or any of the matters
referred to herein.
The distribution of this announcement and other information in connection with
the Private Placement 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.
This announcement may not be used for, or in connection with, and does not
constitute, any offer to sell, or an invitation to purchase, any securities. The
Private Placement will not be made in any jurisdiction or in any circumstances
in which such offer or solicitation would be unlawful.
The securities referred to herein have not been and will not be registered under
the US Securities Act of 1933, as amended, and may not be offered or sold in
the United States or to US persons unless the securities are registered under
the Securities Act, or an exemption from the registration requirements of the
Securities Act is available. No public offering of the securities will be made
in the United States.
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1463650]
Completed Private Placement of Equity:
http://hugin.info/36/R/1463650/402355.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: DNO International ASA via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 18.11.2010 - 07:59 Uhr
Sprache: Deutsch
News-ID 48888
Anzahl Zeichen: 5041
contact information:
Town:
Oslo
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 195 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Completed Private Placement of Equity"
steht unter der journalistisch-redaktionellen Verantwortung von
DNO International ASA (Nachricht senden)
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