Warrants: Change of long name and symbol for Statoil (161/18)

Statoil Becomes Equinor

Statoil Becomes Equinor

The articles of association have been amended to reflect the new Equinor name, the company said.

On 15 May 2018, the annual general meeting (AGM) in Statoil ASA (OSE: STL, NYSE:STO) will vote on the proposal to change the companys name, from Statoil ASA to Equinor ASA.

The change of name and subsequent implementation and change of ticker on Oslo Børs is subject to the AGMs approval of the name change and formal registration in the Norwegian register of business enterprises (Foretaksregisteret). The company has established a presence, meanwhile, outside of the conventional energy sector.

The new name will also be reflected in the Norwegian company's American Deposit Rights (ADRs), which are traded on the NY bourse, as of May 17, at the earliest.

"The biggest transition our modern-day energy systems have ever seen is underway, and we aim to be at the forefront of this development", Statoil's chair of the board, Jon Erik Reinhardsen, said in a company statement back in March. The move also helps the company to reshift its priorities away from fossil fuels - as befits a company with "oil" in its name - and towards a renewable energy future.

Statoil's involvement in renewable energy now includes hydropower, onshore wind and solar developments.

"The world is changing, and so is Statoil". The company exited the offshore wind industry in December 2017.

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