Revus Energy Moves Forward with Private Placement of Shares
Revus Energy ASA (Revus) has retained First Securities ASA and DnB NOR Markets ASA to advise on and effect a contemplated private placement of new shares directed towards professional investors in Norway and internationally after the close of the Oslo Bors. The private placement will be carried out through a book-building process. The planned share issue will amount to a minimum of 4,163,452 and a maximum of 5,700,000 new shares, equal to approximately 9.99% - 13.69% of existing outstanding shares.
The proceeds from the private placement, in combination with the recently announced sale of a 10% stake in the Yme re-development project, will increase the financial strength of the Company and thereby support its ambitious growth plans beyond the near term exploration program, both in the NCS and UKCS. It remains the Company`s ambition to build a large Norwegian based E&P business applying a twin engine growth strategy; organic growth through Exploration and Appraisal combined with an M&A strategy targeting assets and companies with growth potential.
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