PANORO ENERGY ASA NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN OR INTOAUSTRALIA ,CANADA ,JAPAN ORTHE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO BUY OR SUBSCRIBE OF ANY OF THE SECURITIES DESCRIBED HEREIN.Oslo ,8 March 2021 -Panoro Energy ASA (the "Company" or "Panoro" with OSE Ticker PEN) is pleased to announce that theNorwegian Financial Supervisory Authority on Friday 5 March approved a listing and offering prospectus forPanoro Energy ASA (the "Prospectus"). Reference is made to the stock exchange announcement of10 February 2021 by Panoro regarding the potential subsequent offering of up to 5,500,000 new shares (the "Subsequent Offering") to be carried out by the Company following the completion of a private placement with gross proceeds ofUS$ 70 million (equivalent to approximatelyNOK 593 million ) (the "Private Placement"). The Subsequent Offering will commence at 12:00 hours (CET) today and end at 16.30 hours (CET) on Monday15 March 2021 (the "Subscription Period"). The subscription price in the Subsequent Offering isNOK 15.50 per Offer Share (the "Subscription Price"), which is equal to the subscription price in the Private Placement. In the Subsequent Offering, Eligible Shareholders, being shareholders of the Company as of close of theOslo Stock Exchange on9 February 2021 (and being registered as such with theNorwegian Central Securities Depository ("VPS") on11 February 2021 , pursuant to the two days' settlement procedure in the VPS (the "Record Date") who (i) were not allocated shares in the Private Placement; (ii) were not invited to subscribe for shares in the pre-sounding of the Private Placement; and (iii) are not resident in a jurisdiction where such offering would be unlawful or, for jurisdictions other thanNorway , would require any prospectus, filing, registration or similar action, will be granted non -transferable subscription rights (the "Subscription Rights") that, subject to applicable law, provide preferential rights to subscribe for and be allocatedOffer Shares at the Subscription Price (as defined below). Eligible Shareholders will be granted 0.171142 Subscription Rights for each share registered as held by such Eligible Shareholder on the Record Date, rounded down to the nearest whole Subscription Right. Each whole Subscription Right provides a preferential right to subscribe for, and be allocated, one Offer Share at the Subscription Price, subject to applicable securities laws. Over-subscription is permitted, but there can be no assurance of the number of shares that will be available for allocation pursuant to over-subscription. Further instructions regarding the subscription procedure is available in the Prospectus. The Prospectus will be available electronically at: www.panoroenergy.com/investors/prospectus and www.paretosec.com/updates/transactions or by contactingPareto Securities AS . This information is subject to the disclosure requirements pursuant to Section 5 -12 the Norwegian Securities Trading Act. EnquiriesQazi Qadeer , Chief Financial Officer Tel: +44 203 405 1060 Email: investors@panoroenergy.com AboutPanoro Energy Panoro Energy ASA is an independent exploration and production company based inLondon and listed on the main board of theOslo Stock Exchange with the ticker PEN. Panoro holds production, exploration and development assets inAfrica , namely the Dussafu License offshore southernGabon , OML 113 offshore westernNigeria (held-for-sale, subject to completion), and the TPS operated assets, Sfax Offshore Exploration Permit and Ras El Besh Concession, offshoreTunisia . Subject to completion of certain conditions, Panoro has also farmed-into an exploration Block 2B, offshoreSouth Africa and acquired a producing interest in Block G, offshoreEquatorial Guinea . Visit us at www.panoroenergy.com. Follow us on Linkedin (https://www.linkedin.com/company/panoro-energy)
Click here for more information
© Oslo Bors ASA, source
