Oslo, 16 August 2022: Reference is made to the Norwegian Energy Company ASA's ("Noreco" or the "Company") convertible bond loan with ISIN NO 0010851520 (the "NOR13 Bonds") issued on 26 July 2019. The Company has received two conversion notices from bondholders holding NOR13 Bonds for USD 318,900 and USD 800,000, respectively, which pursuant to the bond terms are convertible into, respectively, 11,006 and 27,611 new shares, representing a total of 38,617 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 165,860,537.


The Company's share capital is increased by NOK  386,170.02068360618811 by issue of 38,617 new shares. The share capital increase pertaining to the conversion of the NOR13 Bonds has been registered in the Norwegian Register of Business Enterprises (Nw.: Foretaksregisteret). Following such share capital increase, the Company's share capital is NOK 256,866,393.75799012581354 divided into 25,686,638 shares, each with a nominal value of NOK 10.00000053560883. 
The new shares pertaining to the share capital increase are expected to be recorded in the VPS and become tradable on the Oslo Stock Exchange today.


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Contact: 
Cathrine Torgersen, EVP Investor Relations & ESG
Email: ct@noreco.com
Phone: +47 915 28 501

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The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan or the United States (including its territories and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,c3614936

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