DNO ASA - M&A Activity 2018 | FinancialReports.eu

DNO Completes Tender for Shares in Faroe Petroleum

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART TO ANY PERSON

LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, OR TO ANY U.S. PERSON, OR

INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR

DISTRIBUTE THIS DOCUMENT.

4 April 2018 - DNO ASA, the Norwegian oil and gas operator, announced today the

successful completion of a reverse book building process of 10 percent of the

shares in Faroe Petroleum plc. Through the reverse book building, DNO will

acquire 36,660,000 shares at GBP 1.25 per share which represents 10 percent of

the outstanding shares in Faroe Petroleum.

Following the purchase, DNO will own 93,015,825 shares which represents 25.37

percent of the outstanding shares in Faroe Petroleum.

***

This release does not constitute any offer or solicitation to sell or purchase

any securities, and may not be released, published or distributed in the United

States of America or any other jurisdiction where such offer, solicitation,

release, publication or distribution would be prohibited or require any

registration or filing acts or similar.

***

This announcement is directed only at persons (i) having professional experience

in matters relating to investments who fall within the definition of 'investment

professionals' in Article 19(5) of the Financial Services and Markets Act 2000

(Financial Promotion) Order 2005 (the "Order") or (ii) who are high net worth

entities falling within Article 49(2) of the Order, and other persons to whom it

may otherwise lawfully be communicated (all such persons together being referred

to as "relevant persons"). This announcement must not be acted or relied on in

the United Kingdom by persons who are not relevant persons.

AI assistant