Reference is made to the previous announcements by Statoil ASA regarding the dividend Issue for the first quarter 2016.
The subscription period expired on 9 September 2016 and subscriptions were made for a total of 19 969 275 dividend shares in the Dividend Issue, reducing the dividend payable by approximately US$309 million for the company. Approximately 45% 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 22 September 2016, following which the Dividend Shares are expected to be delivered to the subscribers' VPS accounts on 23 September 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 26 September 2016.
Payment of the cash dividend to holders of ordinary shares on Oslo Børs is expected to be on or about 23 September 2016. Cash payment of the dividend to holders of ADRs is expected to be on or about 26 September 2016.
Adapted from a press release by David Bizley
Read the article online at: https://www.oilfieldtechnology.com/special-reports/22092016/result-of-the-dividend-issue-for-the-first-quarter-2016/