As a follow up to the 29 May 2017 announcement by Statoil ASA regarding the dividend issue for the fourth quarter 2016, the group said the subscription price shall, in accordance with the resolution made by the annual general meeting on 11 May 2017.
Dividend will be equal to the volume-weighted average share price over the last two trading days (9 and 12 June 2017) on Oslo Børs of the subscription period for the Dividend Issue, with a deduction of a discount of 5%.
The volume-weighted average share price for the respective trading days was NOK 147.36. The subscription price per share is consequently NOK 139.99.
The subscription price for the ADR holders will be equal to the Subscription Price converted into USD using the Central Bank of Norway’s average closing exchange rate of the last two trading days of the Subscription Period, i.e. 9 and 12 June 2017.
The average exchange rate for these respective days was 8.4924. The subscription price per share for ADR-holders is consequently USD 16.48.
Statoil is a Norwegian oil major with interest in Nigeria’s Niger Delta region.