The annual general meeting of Petrolia Drilling ASA today allotted DNO ASA and its subsidiary Independent Oil Tools AS 8 795 065 shares and 42 000 000 shares, respectively in Petrolia Drilling ASA at a subscription price of NOK 0.50 per share, the total number of shares being 50 795 065..
After the allotment, DNO ASA and Independent Oil Tools AS hold 10 554 078 and 50 400 000 shares, respectively in Petrolia Drilling ASA, in all 60 954 078 shares, corresponding to 4.1 and 19.5 per cent, respectively of the share capital of Petrolia Drilling ASA after the repair issue, in all 23.6 per cent.
In addition, DNO ASA and Independent Oil Tools AS own rights to shares in Petrolia Drilling ASA in the form of convertible bond loans and independent subscription rights. In aggregate, DNO ASA and IOT's shares and rights represent between 45.5 and 83.4 per cent of Petrolia Drilling ASA's share capital after the repair issue, depending on how many other holders of rights to shares in Petrolia Drilling will make use of their rights to have shares issued.