The Board of Oslo Børs approves African Petroleum and Havyard for listing

Energy, Marine Equipment Products and Services, Shipbuilding and Shipyards, Stock Markets, Technology — By on April 30, 2014 at 8:44 PM

oslo bors30/04/2014 – At its meeting on 30 April 2014, the Board of Directors of Oslo Børs resolved to admit shares in the companies African Petroleum Corporation Limited and Havyard Group ASA to listing.

African Petroleum to be listed on Oslo Axess
The Board stipulated that the company prior to the first day of listing must satisfy the requirement for the number of shareholders as set out in Section 2.4.2 of the Oslo Axess Listing Rules, have at least 25% spread of share ownership among the general public, as specified in section 2.4.1 of the Oslo Axess Listing Rules and publish an approved prospectus.

The Board also stipulated that the company must raise a minimum of NOK 30 million (equivalent to USD 5 million) through its planned primary share issue prior to the first day of listing.

The Board authorized the Chief Executive Officer of Oslo Børs to fix the date of the first day of listing, which is to be no later than 13 June 2014.

About African Petroleum:
African Petroleum Corporation Limited (“APCL”) is an independent oil exploration company operating eight licences in four countries (Côte d’Ivoire, Liberia, Senegal and Sierra Leone) offshore West Africa. APCL’s assets are located in prolific and fast-emerging hydrocarbon basins, principally the West African Transform Margin where several discoveries have been made in recent years, including APCL’s Narina discovery, in February 2012, which proved a working hydrocarbon system in the Liberian Basin. The Company has matured its portfolio rapidly having acquired more than 15, 000 km2 of 3D seismic data and successfully drilling three wells, one of which was a technical discovery.

Havyard to be listed on Oslo Børs
The Board stipulated that, prior to the first day of listing, the company must satisfy the requirement for the number of shareholders as specified in Section 2.4.2 of the Oslo Børs Listing Rules, and at least 25% of the shares to be admitted to listing must be held by the general public as required by Section 2.4.1 of the Oslo Børs Listing Rules. The Board also stipulated that the company’s board of directors must satisfy the requirements for the board to be independent of the company’s larger shareholders, executive management and material business contacts, cf. Section 2.3.6 of the Oslo Børs Listing Rules.

If the requirement for the number of shareholders is not met, the company will be accepted for a listing on Oslo Axess, subject to the company satisfying Section 2.4.2 of the Oslo Axess Listing Rules and other listing requirements.

The Board authorised the Chief Executive Officer of Oslo Børs to fix the date of the first day of listing, which is to be no later than 13 June 2014.

About Havyard:
Havyard Group ASA develops and sells ship designs and ship equipment in addition to its own construction of advanced vessels for shipyards and ship-owners worldwide operating within the offshore oil & gas, fishing and aquaculture industries. Havyard Group delivers products and services within the complete value chain from vessel design, construction, after sales and life cycle support for the vessels in operation.

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