Mandatory Notification of Trade and Share Capital Increase


Oslo, 12 September 2017: Norwegian Energy Company ASA (“Noreco”), informs that CEO Silje Augustson yesterday called 50,000 options to subscribe for shares in Noreco at strike price NOK 42 per share.

Upon receipt of the call notice, the Board of Directors summoned a meeting and adopted to increase the share capital of Noreco by NOK 500,000 from NOK 71,447,303 to NOK 71,947,303, by issuance of 50,000 new shares, each at nominal value of NOK 10, for a subscription price of NOK 42 per share. The new shares were subscribed for by Silje Augustson in the board meeting.

The shareholders’ pre-emption rights pursuant to section 10-4 of the Public Limited Companies Act is set aside, cf. section 10.5 of the Public Limited Companies Act.

The new shares give shareholders rights from the time the shares are registered in the Norwegian Companies Register. From the same time, § 4 of the Company’s articles of association shall be amended to read as follows:

“The share capital is NOK 71,947,303.85 divided into 7,194,730 shares, each with a nominal value of NOK 10.0000005”.

The estimated costs related to the increase in share capital is NOK 20,000.

Silje Augustson holds 50,000 shares in Noreco following the abovementioned transactions.


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