Oslo Børs has resolved to admit the shares of Seacrest Petroleo Bermuda Limited, to trading on Oslo Børs.
An exemption is granted from the requirement for minimum market value per share of at least NOK 10, cf. Oslo Rule Book II section 3.1.4.5. The dispensation is granted on the basis of an overall assessment, including the fact that the company has convened to a special general meeting to resolve a reverse share split in order to potentially increase the market value of the shares above NOK 10, following admission to trading. Oslo Børs considers the dispensation from the listing requirement regarding minimum market value per share of NOK 10, to be in the interest of the general public and investors.
It is stipulated that the company prior to the first day of admission to trading satisfies the admission requirements for Oslo Børs. If the company does not satisfy the requirements for Oslo Børs, the company will be admitted to trading on Euronext Expand, provided that the company satisfies the admission requirements for Euronext Expand.
The CEO of Oslo Børs determines the first day of listing, no later than 8th May 2023.