DNO Completes Merger with RAK

DNO International ASA announced the completion on Tuesday of its merger with RAK Petroleum PCL´s MENA operating subsidiaries, and increased its share capital to NOK 255,819,813.75 (comprised of 1,023,279,255 shares of NOK 0.25 each).

On Friday, an Oslo court threw out a request by Petrolia Invest AS for an injunction to halt the merger, and also awarded DNO Nkr1 million (approx $165,800) in compensation to cover its legal costs.

Petrolia Invest AS, is a subsidiary of Petrolia ASA, a company controlled by DNO’s former chairman and chief executive Berge Gerdt Larsen.

 

 

 

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