PetroNor to re-domicile from Australia to Norway
PetroNor Australia (OSE ticker: “PNOR”), announced its intention to re-domicile from Australia to Norway via a proposed Australian Scheme of Arrangement (“Scheme”), subject to shareholder, regulatory and court approvals.
Under the Scheme all of the shares held by PetroNor Australia shareholders will be transferred to PetroNor E&P ASA (“PetroNor Norway”) (an existing subsidiary of PetroNor Australia, incorporated in Norway) and PetroNor Australia shareholders will receive one (1) new PetroNor Norway share for every one (1) PetroNor Australia share held as at the Scheme record date (excluding shareholders whose shares are not registered on the VPS as at the record date, whose shares will be sold via a sale agent and proceeds from the sale returned to them).
Following the Scheme becoming effective, PetroNor Norway will become the holding company of the PetroNor Australia Group. In connection with the Scheme, PetroNor Norway will make a formal listing application to the Oslo Stock Exchange to have its securities admitted to trading on the Oslo Børs main list, thereby facilitating the tradability of the new PetroNor Norway shares on the primary securities exchange of Norway.
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