DNO International ASA's shareholders today approved the proposed merger with RAK Petroleum PCL's MENA operating subsidiaries by 76.5 percent favorable votes at an extraordinary general meeting held in Oslo.
"I am very pleased with the shareholders' resounding endorsement of DNO's board, management and our forward strategy. This transaction is the first of many that will transform DNO into a larger, stronger oil and gas company," says Bijan Mossavar-Rahmani, Executive Chairman. "After weeks of unnecessary noise and distraction, we can focus again on creating value for all shareholders," he added.
The proposed merger will be presented to the shareholders of RAK Petroleum for a vote at an extraordinary general meeting on 3 November.
Oslo, 1 November 2011
DNO International ASA
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)