NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES OR ANY
OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE
UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO BUY OR SUBSCRIBE OF
ANY OF THE SECURITIES DESCRIBED HEREIN.
Oslo, 10 February 2021
Reference is made to the stock exchange release by Panoro Energy ASA (the
"Company" or "Panoro", with OSE Ticker: "PEN") earlier today regarding the
successful completion of a private placement of 38,276,451 new shares at an
offer price of NOK 15.50 per share (the "Private Placement") and that the
Company is considering to conduct a subsequent share offering of up to 5,500,000
new shares (the "Subsequent Offering").
Date for announcement of terms: 10 February 2021
Last day including right to receive subscription rights: 9 February 2021
First day excluding right to receive subscription rights: 10 February 2021
Record date: 11 February 2021
Maximum number of new shares: 5,500,000
Subscription price: NOK 15.50 per share
Shall the rights be listed: No
The rights will not be transferrable.
The Subsequent Offering is subject to the Company resolving to initiate the
Subsequent Offering, and the publication of a prospectus approved by the
Norwegian Financial Supervisory Authority.
Notwithstanding the foregoing, the board of directors of Panoro may, in its sole
discretion, decide that the Company shall not carry out the Subsequent Offering
inter alia if the prevailing market price of the Company's shares trade lower
than the subscription price of NOK 15.50 per share and thereby making a
subsequent offering redundant.
This information is subject to the disclosure requirements pursuant to Section 5
-12 the Norwegian Securities Trading Act.
Enquiries
Panoro Energy ASA
John Hamilton, Chief Executive Officer
Qazi Qadeer, Chief Financial Officer
Tel: +44 203 405 1060
Email: investors@panoroenergy.com
About Panoro Energy
Panoro Energy ASA is an independent exploration and production company based in
London and listed on the main board of the Oslo Stock Exchange with the ticker
PEN. Panoro holds production, exploration and development assets in Africa,
namely the Dussafu License offshore southern Gabon, OML 113 offshore western
Nigeria (held-for-sale, subject to completion), and the TPS operated assets,
Sfax Offshore Exploration Permit and Ras El Besh Concession, offshore Tunisia.
Subject to completion of certain conditions, Panoro has also farmed-into an
exploration Block 2B, offshore South Africa.
For more information visit the Company's website at www.panoroenergy.com.