United Kingdom, 19 October 2022
Reference is made to the announcement by RAK Petroleum plc (the “Company”) on 11 October 2022 reporting the UK court approval of its Capital Repayment and closing of the transfer of the Company's interest in Mondoil Enterprises LLC to DNO ASA. Further reference is made to the announcement by the Company on 13 October 2022 regarding the registration of the Company's new share capital.
The Company is pleased to announce that the settlement of the Capital Repayment has been successfully completed in the VPS through the transfer of 1.6574 DNO Shares and a NOK cash amount corresponding to USD 0.064 for each Class A and restricted Class A share of the Company held as of 11 October 2022, as registered in the VPS on 13 October 2022, rounded down to the nearest whole number of DNO shares for each shareholder.
Following completion of the settlement, the Company confirms that the conditions for commencement of the Members Voluntary Liquidation (the "MVL") have been fulfilled and that the MVL will commence on 21 October 2022 in accordance with the resolution passed in the general meeting of the Company on 21 September 2022, and that the liquidators will be appointed from the same date.
As the conditions for the commencement of the MVL have been fulfilled, the conditions set by Oslo Børs for the delisting of the Company's shares from Oslo Børs to take effect as set out in the announcement by Oslo Børs on 30 September 2022 have also been fulfilled. Accordingly, it is confirmed that the last day of listing will be tomorrow, 20 October 2022.
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RAK Petroleum plc
About RAK Petroleum plc:
RAK Petroleum plc is a company established under the laws of England and Wales as a public limited company.