The subscription period expired on 10 June 2016 and subscriptions were made for a total of 18,298,942 Dividend Shares in the Dividend Issue, reducing the dividend payable by approximately US$292 million for the company. Approximately 43% of shareholders’ total net dividend have been used to subscribe for shares in the Dividend Issue.
The share capital increase relating to the Dividend Issue is expected to be registered with the Norwegian Register of Business Enterprises (Nw. Foretaksregisteret) on 23 June 2016, following which the Dividend Shares are expected to be delivered to the subscribers' VPS accounts on 24 June 2016.
The Dividend Shares will be registered with VPS under ISIN NO 0010096985 and will be traded on Oslo Børs under the company's trading symbol ‘STL’. Trading of the new shares will commence on 27 June 2015.
Payment of the cash dividend will be carried out on or around 24 June 2015.
Adapted from a press release by Louise Mulhall
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/23062016/result-of-the-dividend-issue-for-4q15/