PetroNor E&P update on re-domicile process to Norway
PetroNor E&P Limited is on track with the process to change domicile from Australia to Norway and be admitted to listing on the Oslo Stock Exchange main list (“Oslo Børs”). Following the change of domicile, PetroNor E&P ASA (“PetroNor Norway”) will be the ultimate parent of the Company and become the listed entity. Reference is made to the press releases published in relation to the Company’s contemplated re-domicile to Norway on each of 29 November 2021, 16 November 2021, 29 October 2021 and 27 October 2021.
All the shareholders in the Company registered in VPS will receive the same number of shares in PetroNor Norway and the ticker will remain unaltered. There will be a trading halt as described below to transfer the shares from the current listed entity to the new PetroNor Norway and no further actions by shareholders are required for this exchange to take place. PetroNor Norway has to apply for a new listing to the Oslo Stock Exchange and similarly, the current Company has to apply for a de-listing.
The last day of trading of the shares in the Company will be on or about Friday, 10 December 2021. This means that after close of trade on or about 10 December 2021, no further trading in the Company will take place until the shares of PetroNor Norway are listed on Oslo Børs. Holders of shares in the Company at the end of trading 10 December 2021, as evidenced by the VPS register on or about 14 December 2021 (the “Record Date”) will be eligible to receive one share in PetroNor Norway for each share held in the Company as registered with VPS on the Record Date.
Effectively, this means that shareholders as at the Record Date will exchange their shares in the Company trading on Euronext Expand with an equal number of shares in PetroNor Norway trading on the main list of Oslo Børs.
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