United Kingdom, 7 October 2022
RAK Petroleum plc (the “Company”) announces that, as the result of a shareholder's request to release the restrictions on its Restricted Class A Shares in the Company, 180,000 Restricted Class A Shares in the Company have been re-designated as Class A Shares in the Company and 180,000 Class B Shares, representing 360,000 votes, have been transferred to the Company and cancelled.
Following these actions having become effective today, the share capital of the Company consists of 195,114,040 Class A Shares, each with a nominal value of GBP 0.01, 117,017,332 Restricted Class A Shares, each with a nominal value of GBP 0.01, 117,017,332 Class B Shares, each with a nominal value of GBP 0.0000001, 87,488,693 Class C Shares, each with a nominal value of GBP 0.0000001 and 50,000 redeemable shares, each with a nominal value of GBP 1.00, resulting in 546,166,036 total votes.
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RAK Petroleum plc
About RAK Petroleum plc:
RAK Petroleum plc is an Oslo Stock Exchange listed oil and gas investment company established under the laws of England and Wales as a public limited company. Its principal holdings are 44.94 percent of DNO ASA (“DNO”) and 33.33 percent of Foxtrot International LDC held through Mondoil Enterprises, LLC. DNO is a Norwegian oil and gas operator focused on the Middle East and the North Sea. Founded in 1971 and listed on the Oslo Stock Exchange, DNO holds stakes in onshore and offshore licences at various stages of exploration, development and production in the Kurdistan region of Iraq, Norway, the United Kingdom, Netherlands and Yemen. Foxtrot International LDC is a privately held company active in West Africa whose principal asset is a 27.27 percent interest in and operatorship of Block CI-27 offshore Côte d'Ivoire.
In its stock exchange announcements on 22 August 2022, the Company announced a plan which includes transferring the Company’s interest in Mondoil Enterprises LLC to DNO for 78,943,763 new DNO shares, following which the Company would transfer all its DNO shares and cash to its shareholders through a UK court-approved capital repayment and then delist and voluntarily liquidate the Company. The plan is subject to various conditions and approvals including, but not limited to, confirmation by the courts of England and Wales of the capital repayment under the plan, all as further set out in the Company’s announcements on 22 August 2022 and the shareholder circular of the same date.
This information is subject to the disclosure requirements according to section 5-12 of the Norwegian Securities Trading Act. The information was submitted for publication by Kevin Toner, Managing Director, on behalf of the Company on the time and date set out above.