5 Apr 2018 07:00
DNO Completes Tender for Shares in Faroe Petroleum
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4 April 2018 - DNO ASA, the Norwegian oil and gas operator, announced today the successful completion of a reverse book building process of 10 percent of the shares in Faroe Petroleum plc. Through the reverse book building, DNO will acquire 36,660,000 shares at GBP 1.25 per share which represents 10 percent of the outstanding shares in Faroe Petroleum.
Following the purchase, DNO will own 93,015,825 shares which represents 25.37 percent of the outstanding shares in Faroe Petroleum.
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