CORRECTION: Statoil ASA: Publication of prospectus and commencement of subscription period for the Dividend Issue for 1Q 2016 under the Scrip Dividend Programme - FOR SHAREHOLDERS IN NORWAY
(Thomson Reuters ONE) -
This is a correction of the announcement from 07:49 29.08.2016 CEST. Reason for
the correction: Corrected amount of Dividend Shares to be issued.
Reference is made to the previous announcements by Statoil ASA (OSE:STL,
NYSE:STO, the "Company") regarding the resolution made by the annual general
meeting on 11 May 2016 to approve the two year scrip dividend programme
commencing from the fourth quarter 2015 (the "Scrip Dividend Programme") and to
distribute a dividend of USD 0.2201 (NOK 1.8255, as announced 17 August 2016)
per share for the first quarter of 2016 that shareholders can choose to receive
either in new shares of the Company ("Dividend Shares") or in cash.
In connection with the Scrip Dividend Programme for the first quarter 2016 (the
"Dividend Issue"), the Company will issue up to 160,000,000 Dividend Shares,
each with a nominal value of NOK 2.50 per share, for subscription by Existing
Shareholders (as described below).
Approved Prospectus:
The Norwegian Financial Supervisory Authority (Finanstilsynet) approved on 27
August 2016 the prospectus for the offering of the Dividend Shares to Existing
Shareholders in Norway.
The Prospectus is available at www.statoil.com/scrip, where hard copies may also
be ordered.
Subscription period:
The subscription period for the Dividend Issue will commence at 09:00 a.m. CEST
on 29 August 2016 and expire at 23:59 p.m. CEST on 9 September 2016 (the
"Subscription Period").
Existing Shareholders who have not subscribed for Dividend Shares at the time of
expiry of the Subscription Period will receive their dividend in cash without
any action on their part on or about 23 September 2016.
Subscription price:
The subscription price will be set as the volume-weighted average share price
over the last two trading days on Oslo Børs (the "Oslo Stock Exchange") of the
Subscription Period for the Dividend Issue, with a deduction for a discount of
5%. The subscription price is expected to be announced on or about 12 September
2016.
Subscription procedures:
Subscriptions for Dividend Shares can be made electronically via VPS' online
subscription system. A link to the subscription system can be found on
www.statoil.com/scrip. Existing Shareholders who are considered eligible to
subscribe for Dividend Shares have or will receive a letter from the Company
with personal log in details to the VPS subscription system.
Eligibility to participate in the Dividend Issue:
Shareholders of the Company holding shares as of 9 August 2016 and who were
registered with the Company's shareholder register in the Norwegian central
security depository (VPS) as of close of business 11 August 2016 (the record
date) ("Existing Shareholders") are entitled to elect to either subscribe for
Dividend Shares during the Subscription Period or receive their dividend in
cash.
The subscription for Dividend Shares by persons located in, or resident of
countries other than Norway, may be affected by the laws of the relevant
jurisdiction. The Dividend Shares may not be subscribed for by Existing
Shareholders located in or resident of, jurisdictions in which the subscription
for Dividend Shares would be unlawful. Existing Shareholders located in, or
resident of, countries other than Norway, should inform themselves as to whether
restrictions apply to the Dividend Issues and consult their professional
advisors if they are in any doubt about any of the contents or application of
these restrictions.
Settlement:
The issue of the Dividend Shares is expected to take place on or about 22
September 2016, and the delivery of the Dividend Shares on Oslo Børs is expected
to take place on or about 23 September 2016. Delivery of the ADRs representing
Dividend Shares is expected to take place on or about 26 September 2016. Trading
in the Dividend Shares on Oslo Børs and in the ADRs representing Dividend Shares
on NYSE is expected to commence on or about 26 September 2016.
Cash payment of the dividend to holders of ordinary shares on Oslo Børs is
expected to be on or about 23 September 2016. Cash payment of the dividend to
holders of ADRs is expected to be on or about 26 September 2016.
Interests held through financial intermediaries:
Shareholders, who are eligible for participation in the Dividend Issue and who
hold their Shares through a financial intermediary and wish to subscribe for
Dividend Shares in the Dividend Issue, should instruct their financial
intermediary to subscribe for Dividend Shares in accordance with the applicable
instructions received from such financial intermediary. The financial
intermediary will be responsible for collecting exercise instructions from the
shareholders and for informing the Company of their subscription instructions.
DNB Bank ASA, Registrars Department (tel.: +47 23 26 80 20) is acting as
Receiving Agent for the Dividend Issue.
Contact persons:
Peter Hutton, senior vice president for investor relations,
Tel: +44 7881 918 792
Morten Sven Johannessen, vice president for investor relations USA,
Tel: +1 203 570 2524
This information is subject of the disclosure requirements acc. to § 5-12 vphl
(Norwegian Securities Trading Act)
This announcement and the information contained herein does not constitute or
form a part of, and should not be construed as, an offer for sale or
subscription for or solicitation or invitation of any offer to subscribe for or
purchase of dividend shares or any other securities of the Company and cannot be
relied on for any investment contract or decision.
It may be unlawful to distribute this announcement in certain jurisdictions.
This announcement is not for distribution in any jurisdiction in which prior
registration or approval is required for that purpose. No steps have been taken
or will be taken in any jurisdiction outside of Norway in which such steps would
be required. No competent authority or any other regulatory body has passed upon
the adequacy of this document or approved or disapproved the distribution of
dividend shares outside of Norway. Any representation to the contrary may be a
criminal offense.
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Statoil via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 29.08.2016 - 14:48 Uhr
Sprache: Deutsch
News-ID 491537
Anzahl Zeichen: 7186
contact information:
Town:
Stavanger
Kategorie:
Business News
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Die Pressemitteilung mit dem Titel:
"CORRECTION: Statoil ASA: Publication of prospectus and commencement of subscription period for the Dividend Issue for 1Q 2016 under the Scrip Dividend Programme - FOR SHAREHOLDERS IN NORWAY"
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