Ask a question to find out more
  • FINANCE, STRATEGY AND REPORTING

Eni announces the completion of secondary placement of existing shares in Vår Energi ASA

San Donato Milanese (Milan), 9 June 2022 – Eni announces secondary placement of 5.0% of existing share capital in Vår Energi ASA was successfully completed by Eni and HitecVision (selling 1.2% and 3.8% respectively) at NOK 40.2 per share, totaling USD 530 Million of proceeds. As a result, the free float will increase from 11.2% to approximately 16.2%. The sale takes place through an accelerated book building process.

Francesco Gattei, Eni’s Chief Financial Officer, commented: “This operation confirms the success of Vår Energi’s listing and the effectiveness of our strategy in setting up satellite companies with the ability to access the markets independently, generating value. The excellent trend in the share performance of Vår Energi, which recorded an increase of over 60% three months after the listing, has unlocked the opportunity to place on the market additional shares thus increasing the liquidity on the stock and further consolidating and expanding the shareholder base of institutional investors.”

After the placement, Eni owns 1,574,616,035 shares in Vår Energi ASA, representing approximately 63.1% of the shares outstanding and votes in the company.

Important Regulatory Notice

This announcement is not for publication, distribution or release, directly or indirectly, in or into the United States of America (including its territories and possessions, any state of the United States of America and the District of Columbia), Canada, Australia, Japan, South Africa or any other jurisdiction where such an announcement would be unlawful. The distribution of this announcement may be restricted by law in certain jurisdictions and persons into whose possession this document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States without registration thereunder or pursuant to an available exemption therefrom. Neither this document nor the information contained herein constitutes or forms part of an offer to sell, or the solicitation of an offer to buy, securities in the United States. There will be no public offer of any securities in the United States or in any other jurisdiction. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer or the selling security holder and that will contain detailed information about the company and management, as well as financial statements.

Pursuant to the Prospectus Regulation, in member states (each, a “Relevant Member State”) of the European Economic Area (“EEA”), this announcement and any offer if made subsequently is directed exclusively at persons who are “qualified investors” within the meaning of the Prospectus Regulation (“Qualified Investors”). For these purposes, the expression “Prospectus Regulation” means Regulation (EU) 2017/1129 and includes any relevant implementing measure in the Relevant Member State.  In the United Kingdom this announcement is directed exclusively at persons who are “qualified investors” (as defined in the Prospectus Regulation as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018) who are (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”), (ii) persons referred to in Article 49(2) (a) to (d) of the Order (high net worth entities, non-registered associations, etc.) and (iii) other persons to whom this document may be lawfully communicated or caused to be communicated; any other persons in the United Kingdom should not take any action on the basis of this announcement and should not act on or rely on it.

This announcement is not an offer of securities or investments for sale nor a solicitation of an offer to buy securities or investments in any jurisdiction where such offer or solicitation would be unlawful. No action has been taken that would permit an offering of the securities or possession or distribution of this announcement in any jurisdiction where action for that purpose is required. Persons into whose possession this announcement comes are required to inform themselves about and to observe any such restrictions.

No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by the managers (the “Managers”) or by any of its affiliates or agents as to, or in relation to, the accuracy or completeness of this announcement or any other written or oral information made available to or publicly available to any interested party or its advisers, and any liability therefore is expressly disclaimed.

In connection with the offering of the shares of Var Energi ASA (the “Shares”), the Managers and any of their affiliates acting as an investor for their own account may take up as a proprietary position any Shares and in that capacity may retain, purchase or sell for their own account such Shares. In addition the Managers or their affiliates may enter into financing arrangements and swaps with investors in connection with which the Managers (or their affiliates) may from time to time acquire, hold or dispose of Shares. The Managers do not intend to disclose the extent of any such investment or transactions otherwise than in accordance with any legal or regulatory obligation to do so.

The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness. This announcement does not purport to identify or suggest the risks (direct or indirect) which may be associated with an investment in the Shares. Any investment decision in connection with the Shares must be made solely on the basis of all publicly available information relating to the Shares (which has not been independently verified by the Managers).

The Managers are acting on behalf of the Sellers and no one else in connection with any offering of the Shares and will not be responsible to any other person for providing the protections afforded to clients of the Managers nor for providing advice in relation to any offering of the Shares.

This communication and any subsequent offer of securities may be restricted by law in certain jurisdictions and persons receiving this communication or any subsequent offer should inform themselves about and observe any such restriction and must not under any circumstances forward this communication to any other person. Failure to comply with such restrictions may violate securities laws of any such jurisdiction.

Press Office

ufficio.stampa@eni.com

Freephone for shareholders (from Italy)

segreteriasocietaria.azionisti@eni.com

Freephone for shareholders (from abroad)

investor.relations@eni.com

Media Relations - Milan

ufficio.stampa@eni.com

Media Relations - Roma

ufficio.stampa@eni.com

Investor Relations

Piazza Vanoni, 1 - 20097 San Donato Milanese (MI)          

investor.relations@eni.com

Switchboard



Back to top
Back to top
Modal Disclaimer Button