There will be carried out a Rights Issue in Independent Oil & Resources PLC (“the Company”). The background for the rights issue is to strengthen the Company’s financial options, so that the Company is able to act quickly in order to be able to take advantage of commercial options by acquiring other companies or assets within the company’s main business area against a consideration consisting wholly or partly in shares in the company, and to support current investments.
The Rights Issue comprises an offering of up to 10 000 000 new shares, with a subscription price of
NOK 2,50 per share. The Board has decided not to engage any broker house for the Rights Issue, but will carry out the Rights Issue itself.
The invitation for this Rights Issue is sent to the 149 largest shareholders in the company as of 13. November 2018. The Subscription Period in the Offering will last from and including 13. November 2018 to and including 30. November 2018. The book will close at 17:30 hours (Cyprus time) on 30. November 2018 after which no further orders will be accepted.
All shareholders who have received this invitation are invited to actively consider whether they would like to subscribe for New Shares.
Allocation of New Shares will be based on the number of shares subscribed. In case of over-subscription, allocation will be determined based on a pro rata basis based on the number of shares held by the shareholder prior to the Offering.
No Prospectus has been prepared for this Offering as the number of invited investors do not exceed 150. Latest financial reports for the Company can be found at www.independentresources.eu. No major subsequent events since last reporting.
For Subscription, please notify the Company within the closing date either by fax +357 25 356 500 or by email to email@example.com
Independent Oil & Resources PLC
Jan Egil Moe, Chair