United Kingdom, 4 February 2019
Reference is made to the stock exchange release of RAK Petroleum plc (the "Company") dated 31 January 2019 concerning the results of its offer to buy back Class A Shares in the Company (the "Buyback Offer"). The Buyback Offer expired on 31 January 2019 at 14:00 (CET).
As a result of the Buyback Offer, the Company has purchased from Sparebank 1 Markets AS and cancelled 8,450,000 Class A Shares, representing 8,450,000 shareholder votes.
As a result of
(i) Mr. Bijan Mossavar-Rahmani’s related request to release the restrictions on 2,811,415 of his Restricted Class A Shares and to transfer to the Company the equivalent number of Class B Shares for cancellation, and
(ii) DNO ASA’s related request to release the restrictions on 587,617 of its Restricted Class A Shares and to transfer to the Company the equivalent number of Class B Shares for cancellation,
the Company has redesignated 3,399,032 Restricted Class A Shares as Class A Shares and cancelled 3,399,032 Class B Shares, representing 6,798,064 shareholder votes.
Following these actions, the aggregate nominal value of the issued share capital of the Company is GBP 3,243,667.86, consisting of:
resulting in 560,550,617 total shareholder votes.
Also as a result of these actions, Mr. Mossavar-Rahmani’s percentage voting interest in the Company remains at 36.88% and DNO ASA’s percentage voting interest remains at 7.71%. Their holdings in the Company are:
|Restricted Class A Shares||Class B Shares||Class A Shares||Total Votes|
Disclosure Guidance and Transparency Rules
The Company notes that when these transactions close, the loss of voting rights associated with cancellation of the Repurchased Shares and the B Shares will reduce the total voting rights in the Company. This will automatically increase the percentage of voting rights held by each other shareholder who has not otherwise altered its shareholdings. In accordance with the Disclosure Guidance and Transparency Rules of the UK Financial Conduct Authority and the Articles of Association of the Company, this diminution of the total voting rights in the Company may trigger an obligation on the part of a shareholder to notify the Company because its interest in the Company reaches, exceeds, or falls below the respective thresholds of 3 percent and each 1 percent threshold thereafter up to 100 percent. Shareholders holding significant interests in the Company should immediately monitor their compliance with these requirements.
For further queries, please contact:
RAK Petroleum plc
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.