There will be carried out a Rights Issue in Independent Oil & Resources PLC (“the Company”). The background for this is that the Board wishes to further develop the Company by strengthening its capital base for investment opportunities, but also to follow up on the Company’s existing investment positions and its commitments through its daughters. The Rights Issue comprises an offering of up to 5,792,543 New Shares, with a subscription price of NOK 4.00 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 24th November 2014. The Subscription Period in the Offering will last from and including 24th November 2014 to and including 8th December 2014. The book will close at 17:30 hours (Cyprus time) on 8th December 2014, 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 149. 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 ddemou@fidelius.com.cy by clearly specifying the number of shares for which you wish to subscribe for and provide your VPS account no.
Independent Oil & Resources PLC
Jan Egil Moe