The Board of Directors of Oslo Bors resolved to admit the EOC shares for trading on Oslo Bors at its meeting held on August 29, 2007, conditioned upon EOC obtaining a satisfactory number of round lot holders for Oslo Bors, obtaining a satisfactory free float and that the company’s composition of its board of directors is in accordance with the Norwegian Code of Practice for Corporate Governance.
In order to create the necessary free float, the major shareholder, Ezra, will sell a total of up to 44,492,285 shares in EOC through a private placement directed towards institutional and professional investors in Norway and Internationally. The price for the shares will be determined through a book-building process conducted by Pareto Securities ASA as manager for the transaction. A nonbonding indicative price range has been set from NOK 22.00-24.00 per share. The book-building period will run from and including 10 September to 19 September 2007. Members of the Board and Management of EOC Limited will order and will be pre allocated a maximum of 4,500,000 shares.
Ezra will subsequently own 53,147,677 shares, constituting approximately 48% of the share capital in EOC, subject to all offered shares being sold.
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