- Class B, C and E shares have been converted to class A shares
- Issue of over 2.4 million bonus shares
Luxembourg, 27 November 2017: Following the decision taken at its extraordinary General Meeting held on 29 June 2017, it has been established via a notarial declaration that Deutsche Oel & Gas S.A. shall convert all 219,564,308 Class B shares, 10,000,000 Class C shares and 24,000,000 Class E shares into a total of 253,564,308 Class A shares. This measure is part of the preparations for the planned listing in Riga.
In addition, pursuant to Article 6 of the Company’s articles of association, it has been determined via a notarial declaration that Class A bonus shares shall be issued to all shareholders of former Class B and Class C shares. The principal shareholder of the Company and the Company itself are excluded from this distribution. The bonus shares shall be issued by means of a notarised capital increase of the company through the capitalisation of carried forward profits. In total, 2,435,652 Class A bonus shares are being issued to former Class B and Class C shareholders. The subscribed capital of the company is now EUR 502,435,652, split into 377,435,652 Class A shares and 125,000,000 Class D shares.