Bw Energy : Mandatory Notifications of Trade and Disclosure of Shareholding
June 20, 2024 at 07:32 am
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Bw Energy - Mandatory Notifications of Trade and Disclosure of Shareholding
20 Jun 2024 13:30 CEST
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Issuer
BW Energy Limited
BW ENERGY - MANDATORY NOTIFICATIONS OF TRADE AND DISCLOSURE OF SHAREHOLDING
Reference is made to the stock exchange announcement published on 6 May 2024
regarding the planned corporate restructuring of BW Group Limited's ("BW Group")
ownership in BW Energy Limited ("BW Energy") from the maritime business held by
BW Group, and the exemption from mandatory offer obligation granted in
connection therewith.
BW Group has today, as part of the above corporate restructuring, sold all of
its shares in BW Energy to BW Energy Holdings Limited ("BW Energy Holdings")
(the "Transfer"). The Transfer took place at the carrying value of the BW Energy
shares in BW Group's books.
BW Group and BW Energy Holdings are close associates of Andreas Sohmen-Pao,
Chairman of the board of directors of BW Energy. Please refer to the attached
notification of trading for further details.
Disclosure of shareholding:
Following the purchase of 191,903,110 shares in BW Energy, BW Energy Holdings
holds approximately 74.38% of the issued share capital and voting rights in BW
Energy.
Following the sale of all of its 191,903,110 shares in BW Energy, BW Group has
reduced its shareholding from approximately 74.38% to zero and will no longer
own any shares or hold any voting rights in BW Energy.
Sebastien Brochet, Group CFO
BW Group Limited
About BW Energy:
BW Energy is a growth E&P company with a differentiated strategy targeting
proven offshore oil and gas reservoirs through low risk phased developments. The
Company has access to existing production facilities to reduce time to first oil
and cashflow with lower investments than traditional offshore developments. The
Company's assets are 73.5% of the producing Dussafu Marine licence offshore
Gabon, 100% interest in the Golfinho and Camarupim fields, a 76.5% interest in
the BM-ES-23 block in, a 95% interest in the Maromba field in Brazil and a 95%
interest in the Kudu field in Namibia, all operated by BW Energy. Total net
2P+2C reserves and resources were 580 million barrels of oil equivalents at the
start of 2024.
This information is published in accordance with the disclosure requirements in
Regulation EU 596/2014 (MAR) article 19, section 5-12 of the Norwegian
Securities Trading Act, and the Oslo Rule Book II.
More information:
Access the news on Oslo Bors NewsWeb site
622050_PDMR Appendix Notification of trade by close associate BWE Holdings.pdf 622050_PDMR Appendix Notification of trade by close associate BW Group.pdf
Source
BW Energy Limited
Provider
Oslo Børs Newspoint
Company Name
BW ENERGY LIMITED
ISIN
BMG0702P1086
Symbol
BWE
Market
Oslo Børs
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BW Energy Ltd. published this content on
20 June 2024 and is solely responsible for the information contained therein. Distributed by
Public, unedited and unaltered, on
20 June 2024 11:31:04 UTC.
BW Energy Limited is an exploration and production (E&P) company. The Company is involved in the acquisition, development and production of oil and natural gas fields, and holds interests in three hydrocarbon licenses in Gabon, Brazil, and Namibia. The Maromba discovery is located approximately 100 kilometers offshore in the southern part of the Campos Basin in Brazil. In Gabon, the Companyâs Dussafu license is situated within the Ruche Exclusive Exploitation Area (Ruche EEA), which covers approximately 850 square kms and includes six discovered oil fields and numerous leads and prospects. In Namibia, Kudu gas discovery asset is in the northern Orange sub-basin approximately 130 kms off the south-west coast of Namibia. It is situated on Petroleum Production license 003 (PPL003) which has an area of 4,567 square kms and the field water depth is approximately 170 meters. It also holds a 100% working interest (WI) in the Golfinho and Camarupim Clusters and 65% WI in the BM-ES-23 block.