Tórshavn, Faroe Islands, 2020-01-30 (GLOBE NEWSWIRE) -- P/F Atlantic Petroleum (NASDAQ Copenhagen: ATLA DKK & Oslo Stock Exchange: ATLA NOK) announces that a request for delisting from the secondary listing on Oslo Børs has been sent.
Delisting Oslo Børs
In accordance with the decision of the EGM held on 7th February 2018, the Board of Directors have requested that Atlantic Petroleum be delisted from Oslo Børs.
The decision to delist:
The delay of the delisting is due to changes in management following the EGM and the challenges Atlantic Petroleum faced following London Oil and Gas being placed under administration.
The EGM held on 7th February 2018, decided to delist from Oslo Børs. The decision was unanimous. 299.949 shares where represented at the EGM.
Atlantic Petroleum is primary listed on NASDAQ OMX Copenhagen and secondary listed on Oslo Børs.
The trade in the Company shares on Oslo Børs is limited and the business activity in Norway has decreased significantly over the last few years. As Atlantic Petroleum currently has no activity in Norway and trade in the Company shares is limited the Board of Directors considers it not being appropriate to have Company shares listed on Oslo Børs.
Atlantic Petroleum’s total number of shares is 3.697.860. Shares traded on Oslo Børs are 365.044 (9,9%) with 216 shareholders. The remaining shares are traded on NASDAQ OMX Copenhagen, with 6.204 shareholders.
If the request is approved by the Oslo Stock Exchange, The Shareholders on Oslo Børs will still be able to trade at NASDAQ OMX Copenhagen and therefore the delisting from Oslo Børs will have minimal inconvenience for existing Shareholders on Oslo Børs.
Atlantic Petroleum in brief:
Atlantic Petroleum participates in oil and gas joint ventures with reputable, international partners. Atlantic Petroleum P/F is based in Tórshavn, Faroe Islands, and the Company currently has subsidiaries and offices in the UK and Ireland. Atlantic Petroleum’s shares are listed on NASDAQ OMX Copenhagen and on the Oslo Stock Exchange.
Further Details:
Further details can be obtained from Mark T. Højgaard, (markh@petroleum.fo). This announcement will be available, together with other information about Atlantic Petroleum, on the Company's website: www.petroleum.fo.
Announcement no.: 1/2020
Issued: 30-01-2020
P/F Atlantic Petroleum
Lucas Debesargøta 8
P.O.Box 1228
FO-110 Torshavn
Faroe Islands
Website: www.petroleum.fo