Sunday, May 20, 2018

Statoil Name Change Expected in May

Posted by May 14, 2018

Photo: Jan Arne Wold / Woldcam

Statoil ASA will vote on the proposal to change the company’s name, from Statoil ASA to Equinor ASA, at the company's annual general meeting on May 15.

The company said in March it intends to change its name to reflect its move to become a broad energy company.

The company expects to implement the name change from (and including) May 16, 2018. This entails that May 15, 2018 is expected to be the last day of trading on Oslo Børs under the ticker “STL”. From May 16, 2018 (inclusive), the company’s shares are expected to trade on Oslo Børs under the new ticker “EQNR”.

The change of name and subsequent implementation and change of ticker on Oslo Børs is subject to the AGM’s approval of the name change and formal registration in the Norwegian register of business enterprises (Foretaksregisteret). Based on statements made in support of the name change by the company’s majority owner, the company expects the AGM to approve the proposal to change the company’s name to Equinor ASA.

Subject to the AGM’s approval of the name change and subsequent implementation, the new ticker “EQNR” is also excpected to be implemented for the company’s American Deposit Rights (ADRs) traded on the New York Stock Exchange (NYSE). The exact date of change of ticker on NYSE will be announced separately, however implementation of the new ticker on NYSE will take place on May 17, 2018 at the earliest.

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