United Kingdom, 6 November 2014. Reference is made to the stock exchange announcement dated 6 November 2014 regarding the successful completion of the application period for the initial public offering of the shares (the "Offering") of RAK Petroleum plc (the "Company", OSE ticker code: "RAKP").
The Company has today issued (i) 1,418,439 class A shares, each with a par value of GBP 1.00, in connection with the Offering and (ii) 32,639,628 class A shares, each with a par value of GBP 1.00, 293,756,638 restricted class A shares, each with a par value of GBP 1.00 and 293,756,638 class B shares, each with a par value of GBP 0.0000001 in connection with the completion of the reorganisation described in the prospectus dated 27 October 2014.
Following the issuance of the new shares, the share capital of the Company is GBP 327,864,735.38, consisting of 34,058,067 class A shares, each with a par value of GBP 1.00, 293,756,638 restricted class A shares, each with a par value of GBP 1.00, 293,756,638 class B shares, each with a par value of GBP 0.0000001, 50,000 redeemable shares, each with a par value of GBP 1.00 and 1 ordinary shares with a par value of GBP 1.00.
ABG Sundal Collier Norge ASA (Global Coordinator) and DNB Markets are acting as Joint Lead Managers for the Offering.
For further queries, please contact:
Kevin Toner, Managing Director
RAK Petroleum plc
Tel: +1 917 518 2837
About RAK Petroleum plc
RAK Petroleum plc is an oil and gas investment company established under the laws of England and Wales as a public limited company. Its principal holdings are 42.8% of DNO ASA and 33.33% of Foxtrot International LDC held through Mondoil Enterprises LLC.
DNO ASA is a Norwegian oil and gas operator active in six countries in the Middle East and North Africa. Shares in the company have traded on the Oslo Stock Exchange since 1981. DNO ASA is headquartered in Oslo with more than 1,000 employees and contractors worldwide. Foxtrot International LDC is a privately-held company active in West Africa whose principal asset is a 24% interest in and operatorship of Block CI-27 offshore Cote d'Ivoire. Block CI-27 contains the two largest gas fields in the country, meeting over 70% of Cote d'Ivoire's needs.
This announcement is not and does not form a part of any offer for sale of securities.
Not for release, publication or distribution, directly or indirectly, outside Norway.
Any offering of the securities referred to in this announcement will be made by means of a prospectus. This announcement is not a prospectus for the purposes of Directive 2003/71/EC (as amended, together with any applicable implementing measures in any Member State, the "Prospectus Directive"). Investors should not subscribe for any securities referred to in this announcement except on the basis of information contained in the aforementioned prospectus.
Matters discussed in this announcement may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as "anticipate", "believe", "continue", "estimate", "expect", "intends", "may", "should", "will" and similar expressions. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although RAK Petroleum plc believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements.
The information, opinions and forward-looking statements contained in this announcement speak only as at its date, and are subject to change without notice.
The Joint Lead Managers are acting exclusively for the Company and no one else in connection with the Offering and assume no responsibility for this announcement. None of the Joint Lead Managers or any of their respective directors, officers, employees, advisers or agents accepts any responsibility or liability whatsoever for/or makes any representation or warranty, express or implied, as to the truth, accuracy or completeness of the information in this announcement (or whether any information has been omitted from the announcement) or any other information relating to the Company, its subsidiaries or associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of the announcement or its contents or otherwise arising in connection therewith.