RAK Petroleum Public Company Limited ("RAK") has on 10th January 2012 received 153,422,343 consideration shares in DNO International ASA ("DNO") as a result of the completion of the merger between RAK's wholly owned subsidiary NORAK Holdings AS and DNO's wholly owned subsidiary DNO Mena AS.
The transaction values RAK's MENA operating subsidiaries at USD 250 million (before working capital adjustments ) and DNO at USD 1.64 million, corresponding to NOK 9.50 per DNO Share. As a result of the completion of the merger, RAK's holding of shares in DNO has crossed the 1/3 disclosure threshold.
Following the completion of the merger, RAK holds 438,379,418 ordinary shares in DNO, representing 42.8% of the shares and votes in DNO on an undiluted basis (based on a total of 1,023,279,255 shares outstanding).
Oslo/Ras Al Khaimah, 10 January 2012
RAK Petroleum Public Company Limited
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.