Statoil ASA: Commencement of subscription period for the Dividend Issue for the first quarter 2016 under the Scrip Dividend Programme
Reference is made to the previous announcements by Statoil ASA (OSE:STL, NYSE:STO, the “Company”) regarding the resolution made by the annual general meeting on 11 May 2016 to approve the two year scrip dividend programme commencing from the fourth quarter 2015 (the “Scrip Dividend Programme”). The Company announced on 27 April 2016 a dividend of USD 0.2201 per share for the first quarter 2016 that shareholders can choose to receive either in new shares of the Company (“Dividend Shares”) or in cash.
In connection with the Scrip Dividend Programme for the first quarter 2016 (the “Dividend Issue”), the Company will issue up to 160,000,000 Dividend Shares, each with a nominal value of NOK 2.50 per share, for subscription by Existing Shareholders (as described below). ….