Reference is made to the stock exchange announcement by Northern Ocean Ltd (“NOL” or the “Company”) on 19 June 2024 regarding (i) the private placement of 90,538,285 new shares with gross proceeds NOK equivalent of approx. USD 60 million (the “Private Placement Shares“) and (ii) Sterna Finance Ltd. (“Sterna“) converting USD 15 million from a financing facility previously provided by Sterna amounting to USD 100 million into 30,000,000 shares in NOL at a price of USD 0.50 per share (the “Conversion Shares“, and together with the Private Placement Shares, the “New Shares“). The Company further announced that the New Shares were issued on a separate ISIN in the VPS and that the New Shares would not be listed or tradeable on Oslo Børs until the publication of a prospectus (the “Prospectus“) to be approved by the Norwegian Financial Supervisory Authority (the “NRBE“).
The NRBE has today, 29 January 2025, approved the Prospectus prepared in connection with the listing of the 120,538,285 New Shares. Consequently, the New Shares are listed and tradeable on Oslo Børs as of this announcement.
The Prospectus and a summary of the Prospectus will be available electronically on the following website: https://www.northernocean.no/prospectus/
This stock exchange announcement was published by Jonas Ytreland, CFO of
Northern Ocean Ltd., on 29 January 2025 at 15:59 CET.
