Reference is made to the announcement on 3 May 2021 regarding Invitation to subscribe for shares in Petrolia Noco AS.
The Board has today allocated 11,700,000 (8.8%) new shares in a private placement directed towards the 100 largest shareholders (representing 98.9% of total shares) and employees. The subscription price was set to NOK 3.50. New total number of shares is 145,000,000. The placement follows the increased activity level made possible by the temporary changes to the fiscal regime in response to Covid-19.
Summary of largest subscriptions
Petrolia SE maintains its ownership unchanged at 49.9%, Petrolia AS, a 100% subsidiary of Petrolia SE, was allocated 5,838,268 shares and thus increases its holding pro-rata to 54,322,599 shares (37.46%).
Independent Oil & Resources PLC, largest shareholder in Petrolia SE, was allocated 3,645,743 shares and thus increases its holding to 6,510,271 (4.49%) shares.
Noco Oil & Resources Ltd was allocated 1,714,285 and thus increases its holding to 8,137,835 (5.61%) shares.
Contact: Jan Kaspar Gjessing, CFO, jkg@petrolia.no