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DNO Acquires Additional Faroe Petroleum Shares

Source: www.gulfoilandgas.com 1/4/2019, Location: Europe

DNO, the Norwegian oil and gas operator, has announced that on 3 January 2019 it acquired a further 2,754,110 Faroe Shares in the market at prices ranging between 147 pence and 152 pence, bringing DNO's total ownership to approx. 30.6 percent of the issued share capital of Faroe Petroleum.

Taken together with valid acceptances of its Mandatory Offer for Faroe, the total number of Faroe Shares which DNO may count towards the satisfaction of the Acceptance Condition is currently 163,274,694 Faroe Shares, representing approx. 43.8 percent of Faroe's issued share capital.

As at 1.00 p.m. (London time) on 2 January 2019, being the First Closing Date for its Offer for Faroe, DNO had received valid acceptances in respect of a total of 48,986,566 Faroe Shares representing approx. 13.1 percent of the issued share capital of Faroe.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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