Subscriptions by large shareholders and extension of application period for Share Issue in Interoil Exploration and Production ASA
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
Interoil Exploration and Production ASA (the "Company") refers to the announcement published on 6 April 2021 in which the Company announced the commencement of the application period for a share issue with gross proceeds of up to NOK 37,000,000 (the "Share Issue").
The Company is pleased to announce that the Share Issue has received support from two of the Company's largest shareholders, Genipabu Investments LLC and Integra Oil and Gas S.A. who in aggregate have applied for shares in an amount of approximately NOK 3,000,000, equal to 8% of the maximum size of the Share Issue.
The Company has also resolved to extend the application period for the Share Issue with one week, so that the Share Issue will be open for applications until 20 April 2021 at 16:30 (CEST). The extension is done in accordance with the terms of the national prospectus registered in Norway (the "Prospectus"). Under the new timeline, allocation of the Offer Shares will take place on or about 21 April 2021. Information of allocation and payment instructions will be sent to the applicant on or about 22 April 2021 by way of a notification through VPS or a notification issued by the Company. Payment for allocated Offer Shares will fall due on 23 April 2021, and delivery of Offer Shares is expected to take place on or about 4 May 2021. The Company reserves the right to close or further extend the application period at any time at its sole discretion, at short notice.
The Prospectus is available on the Company's web site at the following link:
Norwegian investors with access to VPS investor services may also access the Prospectus and submit applications online by using the following link:
The Share Issue is directed towards Norwegian investors and international institutional investors pursuant to and in compliance with applicable exemptions from relevant registration, filing and prospectus requirements, and subject to other applicable selling restrictions. The Share Issue comprises the issue of up to 25,342,462 new shares in the Company at a subscription price of NOK 1.46 per share. The minimum subscription amount in the Share Issue is NOK 10,000.