Frontier Drilling ASA to be admitted to the SMB List
The Stock Exchange Board resolved to admit shares in Frontier Drilling ASA to listing on the SMB list of the Oslo Stock Exchange. The company was granted an exemption from the requirement set out in section 2 - 1, third paragraph, of the Stock Exchange Regulations requiring that a company must have carried out the major part of its activities for at least three years. The decision is conditional on the company electing a new independent Board Member and producing a prospectus which satisfies the requirements of the Stock Exchange Regulations in respect of listing. The President of the Oslo Stock Exchange was authorised to determine the first day of listing, but with the proviso that this must be no later than 14 March 2001.
More about Frontier Drilling ASA
Frontier Drilling ASA (Frontier) is an independent and specialized offshore drilling company focusing on the South-Asia market. The company owns two conventional drillships, Frontier Duchess; and Frontier Ice acquired September 2000.
Frontier Duchess commenced a two year bareboat contract in India in December 2000 after completion of an upgrade at a yard in Singapore. Frontier Ice is laid up in quay in Singapore being marketed to several oil companies in the region.
Navis ASA to be removed from listing
The Stock Exchange Board resolved to remove shares in Navis ASA from listing on the Oslo Stock Exchange. The last day of listing is to be Thursday 15 February 2001. The President of the Oslo Stock Exchange is authorised to vary this date if particular circumstances so require. The convertible bond loan issued by the company with security registration number ISIN NO 001 160 046.4 is also to be removed from listing on the same date as the Company's shares.
