Statoil: subscription price set for Q4 2015 dividend issue

Reference is made to the announcement made on 30 May 2016 by Statoil ASA regarding the Dividend Issue for the fourth quarter 2015.

The subscription price has, in line with the resolution made by the annual general meeting on 11 May 2016, been set as the volume-weighted average share price over the last two trading days (9 and 10 June) on Oslo Stock Exchange of the Subscription Period for the Dividend Issue, with a deduction of a discount of 5%.

The volume-weighted average share price for the respective trading days was NOK 137.52. The subscription price per share is consequently set at NOK 130.64.

For holders of American Depositary Receipts, the applicable US$/NOK exchange rate has been defined as the average of the Central Bank of Norway's exchange rate over the last two trading days of the subscription period for the dividend issue. The average exchange rate for these respective days was 8.1783. The subscription price per share for ADR-holders is consequently set at US$15.97.

Adapted from a press release by David Bizley

Read the article online at: https://www.oilfieldtechnology.com/special-reports/13062016/statoil-subscription-price-set-for-q4-2015-dividend-issue/