RAK Petroleum, the Oslo-listed oil and gas investment company, has announced that  36,000 Restricted Class A Shares have been re-designated as Class A Shares and 36,000 Class B Shares, representing 72,000 votes, have been transferred to the Company and cancelled.

 

Today's (October 6) move comes following a shareholder's request to release the restrictions on its Restricted Class A Shares, said a statement from RAK Petroleum.

 

With this development, the share capital of the company stands at 194.4 million Class A Shares, each with a nominal value of GBP 0.01, 117.6 million Restricted Class A Shares, each with a nominal value of GBP 0.01, 117.6 million Class B Shares, each with a nominal value of GBP 0.0000001, 87.4 million Class C Shares, each with a nominal value of GBP 0.0000001 and 50,000 redeemable shares, each with a nominal value of GBP1 resulting in a total of 547.4 million votes, it added.-TradeArabia News Service