Brief: North Energy To Distribute Dividend Of NOK 0.3 Per Share

North Energy ASA

20/02/2019 07:56

Feb 20 (Reuters) - North Energy Asa  NORTH.OL :
    * DURING H1 2019 COMPANY INTENDS TO DISTRIBUTE A DIVIDEND OF NOK 0.3 PER SHARE TO
SHAREHOLDERS
    * DIVIDEND PROPOSAL WILL INCLUDE AN OPTION FOR SHAREHOLDERS TO SUBSCRIBE FOR NEW SHARES
USING
DIVIDEND AMOUNT
    * WILL PUT FORTH A BUYBACK OFFER TO SHAREHOLDERS
    * SHAREHOLDERS ARE OFFERED TO SELL HIGHER OF 2,000 SHARES AND 15% OF THEIR INDIVIDUAL
SHAREHOLDING
    * TO SIMPLIFY CORPORATE STRUCTURE THROUGH CERTAIN TRANSACTIONS
    * NORTH ENERGY CAPITAL AS (NEC) WILL REPAY TO COMPANY PREFERENCE CAPITAL, IN A TOTAL AMOUNT
OF
APPROXIMATELY NOK 148 MILLION
    * ALL STRATEGIC AND FINANCIAL INVESTMENTS ARE TO BE HELD DIRECTLY IN PARENT COMPANY
    * BUYBACK PRICE IS SET TO NOK 1.90 PER SHARE, PREMIUM OF CA 4 PERCENT TO OFFICIAL CLOSING
PRICE OF
CO'S SHARES ON FEB 19
    * WILL RECEIVE AS PART SETTLEMENT FROM NEC A TOTAL OF 46,126,567 SHARES IN REACH SUBSEA ASA

Source text for Eikon:  ID:nGNE4NXHVH 
Further company coverage:  NORTH.OL 

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