11/08-2017 18:14:11: (PEN) Panoro Energy ASA Final result of Tender Offer
Oslo, 11 August 2017 - Reference is made to the stock exchange notice made by
Panoro Energy ASA ("Panoro" or the "Company" with OSE Ticker: "PEN") on 9 August
2017 and subsequent updates on 10 and 11 August 2017.
Panoro has resolved to buy back 1,000,000 shares as set out in the Offer.
Allocation of the acceptances will be done in accordance with criteria based on
best market practice and equal treatment of shareholders. Acceptances received
exceeded the 1,000,000 shares limit of the Offer.
Allocations will be made before 09:00 (CET) on 14 August 2017. Settlement will
take place on or about 16 August 2017.
Following this transaction, Panoro holds a total of 1,000,000 own shares,
representing 2.35% of the total issued share capital.
Arctic Securities AS acted as receiving agent in connection with the Offer.
The ongoing share buyback program will continue to be carried out in accordance
with applicable laws and regulations, in open market transactions or through
additional tenders, at the discretion of management based on, among other
things, the Company's ongoing capital requirements and the market price of its
This information is subject to the disclosure requirements according to section
5-12 of the Norwegian Securities Trading Act.
Panoro Energy ASA
Tel: +44 203 405 1060
Arctic Securities AS
Tel: +47 21 01 30 40
About Panoro Energy
Panoro Energy ASA is an independent E&P company based in London and listed on
the Oslo Stock Exchange with ticker PEN. The Company holds production,
exploration and development assets in West Africa, namely the Dussafu License
offshore southern Gabon and OML 113 offshore western Nigeria. In addition to
discovered hydrocarbon resources and reserves, both assets also hold significant
exploration potential. For more information, please visit the Company's website
Ekstern link: http://www.newsweb.no/index.jsp?messageId=432563
Nyheten er levert av OBI.