Noreco - New Share Capital Registered Following Conversion of Parts of Convertible Bond

Oslo, 5 May 2022: Reference is made to the Norwegian Energy Company ASA ("Noreco" or the "Company") convertible bond loan with ISIN NO 0010851520 (the "NOR 13 Bonds") issued 26 July 2019.

 
The Company has received conversion notice from bondholder holding NOR13 Bonds for USD 500,000, which pursuant to the bond terms are convertible into 17,257 new shares in the Company at a conversion price of USD 28.9734. Following the conversion, the Company has NOR13 Bonds in issue in the nominal amount of USD [191,399,166].

 
The Company's share capital is increased by NOK 172,570.009243 by issue of 17,257 new shares. The increase pertaining to the conversion of the NOR13 Bonds has today been registered in the Norwegian Register of Business Enterprises (Nw.: Foretaksregisteret). The Company's new share capital is NOK 245,662,713.1579111 divided into 24,566,270 shares, each with a nominal value of NOK 10.00000053560883. Issuance of the new shares in the VPS is expected to take place later today. The new shares will be listed on the Oslo Stock Exchange and will be tradeable from the time at which they are issued in the VPS.

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Contact: 
Cathrine Torgersen, EVP Investor Relations & ESG
Email: [e-mail]
Phone: [phone]

Important information 
The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia) or in any other jurisdiction where such publication or distribution is unlawful. This release is an announcement issued pursuant to legal information obligations, and is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "US Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the US Securities Act. This information is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
 

About Norwegian Energy Company ASA
Noreco is a publicly owned company with focus on the oil, gas and offshore industry. The Company's shares are listed on the Oslo Stock Exchange (ticker NOR). For further information, please visit: www.noreco.com.
 

https://news.cision.com/noreco/r/noreco---new-share-capital-registered-following-conversion-of-parts-of-convertible-bond,c3560911

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