DNO ASA Acquires Additional Faroe Petroleum plc Shares

Source Press Release
Company DNO ASAFaroe Petroleum plc 
Tags Corporate Deals, Deals, Upstream Activities
Date January 04, 2019

DNO ASA ("DNO"), the Norwegian oil and gas operator, announces that on 3 January 2019 it acquired a further 2,754,110 Faroe Shares in the market at prices ranging between 147 pence and 152 pence, bringing DNO's total ownership to approximately 30.6 percent of the issued share capital of  Faroe Petroleum plc ("Faroe").

Taken together with valid acceptances of its Mandatory Offer for Faroe, the total number of Faroe Shares which DNO may count towards the satisfaction of the Acceptance Condition is currently 163,274,694 Faroe Shares, representing approximately 43.8 percent of Faroe's issued share capital.

As at 1.00 p.m. (London time) on 2 January 2019, being the First Closing Date for its Offer for Faroe, DNO had received valid acceptances in respect of a total of 48,986,566 Faroe Shares representing approximately 13.1 percent of the issued share capital of Faroe.

Source: EvaluateEnergy® ©2019 EvaluateEnergy Ltd