Reference is made to the announcement dated 31st August 2016 in relation to a rights issue.
Following the completion of the offering, 9,886,485 new shares of a nominal value of NOK 2.50 where issued and allotted at a price of NOK 3.50 per share.
Following the issue and allotment, the paid up share capital of Independent Oil & Resources Plc has been increased by NOK 24,716,212.50 and is now divided into 24,053,211 shares of a nominal value NOK 2.50 per share for the total consideration of NOK 60,133,027.50.
The total authorised share capital of the Company now stands at 28,333,452 shares of nominal value of NOK 2.50 per share.