Noreco Listing on Oslo Bors
The Board of Oslo Bors resolved to admit shares in Norwegian Energy Company ASA (Noreco) to listing on Oslo Bors.
The Board agreed to exempt the company from the requirement that a listed company must have been in existence for at least three years, cf. Stock Exchange Regulations, Section 2-1. This exemption was granted because the business activities in question have been in existence, but through other legal entities.
The Board also stipulated that, prior to the first day of listing, the company must satisfy the requirement for the number of holders of one round lot or more of the company's shares as specified in Section 2.4.2 of the Listing Rules, and must publish an approved prospectus. It is also a condition for admission to listing that the company raises at least NOK 275 million of capital through its planned share issue.
If the requirement for the number of holders of one round lot or more of the company's shares is not satisfied, the company may be admitted to listing on Oslo Axess provided that the other requirements for such a listing are satisfied.
The Board authorized the President of Oslo Bors to determine whether the company should be admitted to listing on Oslo Bors or Oslo Axess and to determine the date of the first day of listing, which is to be no later than December 7, 2007.
- Det Norske to Acquire Noreco's Norwegian Portfolio (Mar 02)
- Noreco Oil UK Receives Huntington License Default Notice (Nov 02)
- Noreco CEO Steps Down (Oct 13)