Completion of the DNO-RAK MENA Merger and Capital Increase

Reference is made to stock exchange notices from 1, 2 and 3 November 2011 with regards to the merger between DNO International ASA and RAK Petroleum PCL´s MENA operating subsidiaries.

DNO's shareholders approved the merger with a 76.5 percent majority vote at the extraordinary general meeting (EGM) on 1 November 2011. 

The standard two months creditor notification period following the registration of the EGM decision has expired, and the transaction was today completed and registered at the Norwegian Register of Business Enterprises (Foretaksregisteret, Brønnøysund).

In accordance with the resolution approved by the EGM, the board has decided to increase the share capital by NOK 18,355,585.75 by issuing 73,422,343 new shares as a partial consideration for the merger.

An additional 80,000,000 treasury shares were transferred from DNO to RAK Petroleum as further consideration for the merger.

Following the capital increase, the share capital in DNO International ASA is NOK 255,819,813.75 comprised of 1,023,279,255 shares of NOK 0.25 each.

Oslo, 10 January 2012

DNO International ASA
Corporate Communications

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)