Noreco Announces New Share Capital Registered Following Conversion of Parts of Convertible Bond

Source: www.gulfoilandgas.com 5/31/2022, Location: Europe

Reference is made to the Norwegian Energy Company ASA’s ("Noreco" or the “Company”) convertible bond loan with ISIN NO 0010851520 (the “NOR13 Bonds”) issued on 26 July 2019 and the stock exchange notice published by Noreco on 19 May 2022 with respect to the Company having received a conversion notice for NOR13 Bonds in the amount of USD 31,342,011.

The share capital increase pertaining to the conversion of the NOR13 Bonds has been registered in the Norwegian Register of Business Enterprises (Nw.: Foretaksregisteret). Following such share capital increase, the Company's share capital is NOK 256,480,223.73730651962543 divided into 25,648,021 shares, each with a nominal value of NOK 10.00000053560883.

The new shares pertaining to the share capital increase are expected to be recorded in the VPS and become tradable on the Oslo Stock Exchange later today.

The Company has NOR13 Bonds in issue in the nominal amount of USD 160,557,155 following the referenced conversion.


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