Oslo, 18 June 2019
Reference is made to the previously completed North Energy ASA share buy-back programme and the approval from 28th of May by the Annual General Meeting of a dividend of NOK 0.3 per share with an option for shareholders to subscribe for new shares using the dividend amount. The subscription period for the election of dividend as new shares ended yesterday, 17th of June, and a total of 117 shareholders, with a total ownership of 41,005,473 shares, equivalent to 34.44% of the total share capital, has elected to receive the dividend as new shares. At a price of NOK 1.60 per share the total number of shares to be distributed as dividend is 7,688,566. The total number of shares own by the company after the buy-back programme was 9,484,038. After the distribution of dividend as new shares the company will have a remaining number of 1,795,472 own shares.
For those shareholders who will receive the dividend as cash, the payment date is planned at 21st of June.
The following primary insiders have elected to receive the dividend as new shares:
Anders Onarheim, Chairman of the Board of Directors of North Energy ASA, has subscribed for 3,492,026 shares at NOK 1.60 per share via his fully owned companies AB Investment AS, Spitsbergen AS, and Liju Invest AS. The total number of shares beneficially owned by Onarheim after the distribution is 22,318,465, which equals 18.75% ownership in North Energy ASA.
Rachid Bendriss, financial advisor to North Energy ASA and primary insider, has subscribed for 1,367,258 shares at NOK 1.60 per share via his fully owned company Celisa Capital AS. The total number of shares beneficially owned by Bendriss after the distribution is 8,659,300, which equals 7.27% ownership in North Energy ASA.
Didrik Leikvang, financial advisor to North Energy ASA and primary insider, has subscribed for 1,029,759 shares at NOK 1.60 per share via his fully owned company Isfjorden AS. The total number of shares beneficially owned by Leikvang after the distribution is 6,521,803, which equals 5.48% ownership in North Energy ASA.
Knut Sæberg, CEO of North Energy ASA and primary insider, has subscribed for 153,530 shares at NOK 1.60 per share. The total number of shares owned by Sæberg after the distribution is 972,352, which equals 0.82% ownership in North Energy ASA.
For further information, please contact:
Knut Sæberg, CEO
(+47) 918 00 720 | Email: knut.saeberg@northenergy.no
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.