Reference is made to the announcement dated 13. November 2018 in relation to a rights issue.
Following the completion of the offering, 10.000.000 new shares of a nominal value of NOK 2.50 were issued and allotted at a price of NOK 2.50 per share.
Following the issue and allotment, the paid up share capital of Independent Oil & Resources Plc has been increased by NOK 25.000.000 and is now divided into 34.053.214 shares of a nominal value of NOK 2.50 per share for the total consideration of NOK 85.133.035.00.
The total authorized share capital of the Company now stands at 38.333.452 shares of nominal value of NOK 2.50 per share.