The issued shares of Petrolia SE (Petrolia) has now been
increased with 26,522,121 new shares. The shares are subject
to a 1-year lock-up period. The shares will be listed from
Tuesday 24 January 2017.
Reference is made to the stock notice 22 November 2016,
which presented the proposal, the stock notice 8 December
2016, which informed of the bondholders' approval, the stock
notice 15 December 2016, which informed about the
shareholders' approval and the stock notice 15 December
2016, which informed about the exercise of the convertible
The share capital increase has now been recorded at the
Registrar of Companies in the Republic of Cyprus and the new
shares will be listed on the existing ticker ("PDR") and the
existing ISIN (CY 010 263 0916) at Oslo Børs on Tuesday 24
The number of issued shares increases with 26,522,121 new
shares from 27,235,867 to 53,757,988. Price per share is USD
The issued share capital increases with USD 2,652,212.10
from USD 2,723,586.70 to USD 5,375,798.80.
The number of authorised shares is 272,358,670. The par
value is USD 0.10. The authorised share capital is USD
The new shares are subject to a 1-year lock-up.
Following the transaction, the equity has increased with USD
13.3 million and the net outstanding bond loan has been
reduced with USD 13.3 million from USD 17.7 million to USD
4.4 million. The Borrower's Bonds remain unchanged at USD
15.1 million, so the gross outstanding bond loan has been
reduced from USD 32.8 million to USD 19.5 million. The
number of shares has increased from 27.2 million to 53.8
million and the old shareholders have been diluted from 100%
This information is subject of the disclosure requirements
acc. to § 5 -12 vphl (Norwegian Securities Trading Act).
Mr. Sølve Nilsen