Danske Securities AB admitted as a new member
The Board resolved to admit Danske Securities AB as a member of Oslo Børs, with the right to participate in official quotation and trading for shares and derivatives. The President of Oslo Børs is authorised to determine the date and practical arrangements for membership to come into effect. Membership cannot come into effect until the necessary agreements have been completed for the firm to participate in Norwegian securities clearing. Danske Securities will also be required to enter into the Standard Membership Agreement for members of Oslo Børs and the Oslo Børs Standard Agreement for connection to the trading system for equity instruments, bonds and interest rate derivatives.
PA Resources AB to be admitted to the SMB List
At the same meeting the Board resolved to admit shares in PA Resources AB to listing on the SMB List. The company will be required to prepare a prospectus that satisfies the requirements set out in the Stock Exchange Regulations for a listing prospectus. It is also a requirement that the company´s shares are registered with VPS prior to the first day of listing, with documented evidence of a satisfactory spread of ownership. The requirement for listing on the SMB List is that at least 25% of the company's shares must be held by the general public, and there must be at least 100 shareholders with at least one round lot of the company´s shares. The company will also be required to enter into a primary listing agreement with Oslo Børs, and Oslo Børs must also receive satisfactory declarations as set out in the Standard Listing Agreement for primary listing of a foreign company´s shares. The President of Oslo Børs was authorised to determine the first day of listing, but with the proviso that this must be no later than 20 September 2001.
About PA Resources AB
PA Resources AB is a Swedish oil and gas company founded in 1994. The company has shares in producing oil fields in Tunisia and Texas. PA Resources' portfolio of oil fields has been acquired through prospecting and acquisitions. The company is today part owner of five oil fields in Tunisia and two in Texas, USA. Total oil production is today around 1000 barrels of oil per day. The company has a short-term goal of increasing production to between 2000 and 3000 barrels of oil per day. The company has offices in Stockholm, Oslo and Tunis.
Pan Pelagic ASA to be transferred to the Main List
At today's meeting the Board also resolved to transfer the listing of shares in Pan Pelagic ASA from the SMB List to the Main List. The first day of listing on the Main List is to be Thursday 23 August 2001. Pan Pelagic was first listed on the SMB List on 26 April of this year. The Board is of the view that the activity and liquidity seen in the company´s shares have been at levels that make it natural for the company to be listed on the Main List. Pan Pelagic currently has a market capitalisation of NOK 1,300 million.
Interim report for the second quarter approved
At today´s meeting the Board also formally approved the interim report of Oslo Børs Holding ASA for the second quarter of 2001. The interim results were published in a press release on 12 July 2001. The interim report shows an operating profit of NOK 12.8 million (8.5) for the second quarter. Operating profit for the first six months amounted to NOK 21.9 million (11.6). Post-tax profit for the first six months was NOK 24.8 million (12.9). The increases reported are principally the result of higher income than for the equivalent period last year. The complete interim accounts can be seen at www.ose.no/pdf/2kv01.pdf
