Atlantic Petroleum Successfully Completes Oslo Børs IPO

P/F Atlantic Petroleum has announced the successful completion of the bookbuilding period for the initial public offering of shares (the “Offering”) of the Company.

 Atlantic Petroleum Successfully Completes Oslo Børs IPO

The shares are priced at NOK 140 per share. The price is within the non-binding indicative price range of NOK 140 – 160 as announced in the Company’s Prospectus dated 26th November 2013 (the “Prospectus”). The price was determined on the basis of the results of the book building process in accordance with the terms of the Offering as further described in the Prospectus.

The Offering is comprised of 1,050,000 new shares. In addition, the Joint Global Coordinators have over-allotted 157,500 shares, representing 15% of the number of shares sold in the Offering before over-allotments. The Company has granted the Joint Global Coordinators an over-allotment right, exercisable by Carnegie AS as stabilisation manager within 30 days from the first day of listing on Oslo Børs, to cover over-allotments or other short positions in connection with the Offering (the “Over-Allotment Right”). A separate disclosure will be issued by the stabilisation manager regarding the over-allotment and stabilisation activities.

Gross proceeds from the new shares to be issued by the Company will be between NOK 147MM – 169MM (DKK 130MM – 150MM) depending on whether or not the Over-Allotment Right is exercised. Net proceeds from the new shares to be issued by the Company is expected to be between NOK 128MM – 150MM (DKK 113MM – 133MM), depending on whether or not the Over-Allotment Right is exercised.

As a result of the Offering, Atlantic Petroleum meets the criteria set by the Board of directors of Oslo Børs for listing on Oslo Børs. Trading of the shares in Atlantic Petroleum on Oslo Børs (ticker symbol: “ATLA”), and the new shares on NASDAQ OMX Copenhagen (ticker symbol: “FO-ATLA CSE”) is expected to commence on Thursday 12th December 2013.

The number of ordinary shares in issue following the Offering will be 3,676,703 (not including shares to be issued under the Over-Allotment Right, if any), each with a nominal value of DKK 100. The share capital increase is expected to be registered with the Faroese Company Register on 11th December 2013.

Notifications of allotted shares and the corresponding amount to be paid by each investor will be distributed to the investors on 11th December 2013. Investors having access to investor services through their VPS account manager will be able to check the number of shares allocated to them from approximately 09:00 hours (CET) on 11th December 2013. The Joint Global Coordinators may also be contacted for information regarding allocation.

CEO Ben Arabo commented: “We are delighted with the successful completion of the Initial Public Offering on Oslo Børs, including the trust and confidence shown to us by our existing, as well as new Norwegian and international shareholders. In particular, we are pleased with the significant broadening of our institutional shareholder base as a consequence of the offering. The Norwegian capital market has a proven track record for investing in exploration and production companies, and we expect our new listing on Oslo Børs and the proceeds from the Offering to be instrumental in executing our ambitious growth strategy.”

Press Release, December 11, 2013



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