Reference is made to the stock exchange announcement on 2 June 2009. DNO International ASA ("DNO") has on 2 June 2009 completed a sale of 10,000,000 shares at a price of NOK 8.0 per share.
The price was determined through a bookbuilding process, and the share-sale was substantially over-subscribed.
The net proceeds from the share-sale will be used for general corporate purposes.
The shares sold are already listed on the Oslo Stock Exchange and are tradeable on Oslo Stock Exchange at the time of delivery to the buyers.
ABG Sundal Collier acted as manager in the transaction.
The shares offered in the share-sale have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities law, and will be offered within the U.S. only to qualified institutional buyers ("QIB"), as defined in Rule 144A under the U.S. Securities Act ("Rule 144A"), through an affiliate of the manager, in reliance upon the exemption from the registration requirements provided by section 4(2) of the U.S. Securities Act Rule 144A, and to certain non-U.S. persons in offshore transactions in reliance upon Regulation S under the U.S. Securities Act. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of shares in any state in which such offer, solicitation or sale would be unlawful.
DNO International ASA
3 June, 2009