RAK Petroleum to Launch Initial Public Offering in Norway

RAS AL KHAIMAH, 28 October 2014 – RAK Petroleum PCL, the UAE oil and gas investment company, today announced that it is proceeding with plans for an initial public offering and application for listing in Norway. Prior to the listing, RAK Petroleum PCL will transfer substantially all of its assets, liabilities and business to a new UK company, RAK Petroleum plc, as part of a reorganisation approved by the shareholders in May 2013. RAK Petroleum plc will be the listing entity with shareholders of RAK Petroleum PCL receiving shares in the new entity pro rata to their current shareholding.