DNO International ASA ("DNO") launches Open Market Partial Tender Offer for up to 54,500,000 of DNO common shares

DNO today launches an open market partial tender offer (the "Offer") for DNO common shares with a total maximum of 54,500,000 shares. The Offer is based on an authorization from DNO's Annual General Meeting to acquire up to 80 million treasury shares.
Arctic Securities ASA is engaged by DNO as sole advisor and book runner to advise on and to effectuate the Offer.
The Offer is carried out through a book building process. Arctic Securities will gather and accumulate sales orders from existing shareholders. All existing shareholders are invited to offer a certain number of shares at a price level defined by the selling shareholder.
For all selling shareholders the purchasing price will be set at a level representing a satisfactory price and offering volume, up to the maximum amount of 54,500,000 shares. The purchasing price will be identical for all selling shareholders.
The book building process commences immediately, and will close no later than at 20:00 CET, 31 October 2011. Book building can be closed earlier or extended at the Company's own discretion, but the book building will in any event not close prior to 19:00 CET on 31 October 2011. Pricing and allocation will follow shortly thereafter. The trade date will be 1 November 2011, and settlement will take place on 4 November 2011. DNO reserves its right to terminate the Offer or make any amendments with regard to the volume of the Offer.
For shareholders wishing to participate in the Offer, please contact Arctic Securities ASA on the following contact details:
Arne Wenger
Arctic Securities ASA
Phone: +47 21 01 31 16
Mobile: +47 48 40 31 16
E-mail: [email protected]

For further information about the Offer, please contact:
Financial Market:
Chief Financial Officer Haakon Sandborg
Phone: +47 23 23 84 80
Communication Director Tom Bratlie
Phone: +47 905 21 904

This information is subject of the disclosure requirements acc. to ยง5-12 vphl (Norwegian Securities Trading Act)