United Kingdom, 2 May 2019
Reference is made to the stock exchange release of RAK Petroleum plc (the "Company") dated 26 April 2019 concerning the results of its offer to buy back Class A Shares in the Company (the "Buyback Offer"). The Buyback Offer expired on 26 April 2019 at 14:00 (CET).
As a result of the Buyback Offer, the Company has purchased from Sparebank 1 Markets AS and cancelled 7,233,333 Class A Shares, representing 7,233,333 shareholder votes.
As a result of:
the Company has redesignated 2,909,624 Restricted Class A Shares as Class A Shares and cancelled 2,909,624 Class B Shares, representing 5,819,248 shareholder votes.
Following these actions, the aggregate nominal value of the issued share capital of the Company is GBP 3,171,334.24, consisting of:
resulting in 547,498,036 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|
|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.