DNO ASA (DNO) has successfully completed a private placement towards existing shareholders and new investors. The private placement will be followed by a subsequent offering (rights issue) in its wholly owned Norwegian subsidiary Det Norske Oljeselskap AS. The subsequent offering will be directed at the shareholders in DNO ASA as of June 21, 2007 that were not invited to subscribe for shares in the private placement. Det Norske Oljeselskap AS will immediately after the private placement be listed over the counter (OTC) with the intention to apply for a listing on Oslo Børs within 12 months.
As a result of the subsequent offering/rights issue directed at shareholders, DNO will be excluded from the OBX on June 22, 2007 and re-included on June 25, 2007. DNO will be excluded/re-included at close price.
