RE: Echo28 Jun 2023 12:09
N consideration for the Acquisition of the Acquired Interest and Assets the Company has paid a fixed cash consideration equal to GBP 825,000.
In addition, as part of the closing of the transaction, the Board of Directors of the Company has resolved to issue 4,824,591 shares to Echo at a subscription price of NOK 1.15 per share as payment in kind of GBP 400,000 of the purchase price of the Acquisition. Once the share capital increase related to the issuance of these shares has been registered with the Norwegian Register of Business Enterprises, the new share capital of Interoil Exploration and Production ASA will be NOK 100,672,137, divided into 201,304,274 shares, each with a par value of NOK 0.50.
Additionally, the Company has subscribed Echo shares for an aggregate amount GBP 75,000, at a value of 0.065GBP per Echo share.
Am I misunderstanding something here?