Artumas Group Inc. is re-issuing the press release of 30 November 2006, with the addition of the following disclaimer:
The Convertible Bonds have not been registered under the U.S. Securities Act of 1933, as amended, or under any applicable U.S. state securities laws and will be sold within the United States only to qualified institutional buyers (as such term is defined in Rule 144A under the Securities Act of 1933, as amended) or outside of the United States to, or for the account or benefit of, persons that are not U.S. persons (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended). This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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President of Artumas Group Inc., Mr. Stephen Mason announces a 10.0% Senior Unsecured Convertible Bond financing through a private placement. The convertible bond issue will be a maximum USD 30 million, denominated in notes of USD 100,000 each.
The convertible bonds will carry a coupon of 10.0% per annum, paid semi-annually and will mature on or about 20 December 2010. The conversion price is NOK 53 per common share of Artumas Group Inc., subject to adjustment.
The Company may convert the bonds to common shares of Artumas Group Inc. on or after 20 December 2007, if the closing price of the common shares has exceeded NOK 90 for at least 20 trading days within a period of 30 consecutive trading days.
The net proceeds of the Offering will be used to finance the ongoing capital program which includes further development of the Mnazi Bay Gas Field, Mozambique capital requirements including performance bond and off-take market initiatives including feasibility and Front-End Engineering and Design (FEED) studies for the large scale power project.
Artumas Group Inc. has retained ABG Sundal Collier Norge ASA as Lead Manager, and First Securities ASA as Co-lead Manager.
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Artumas Group Inc. is an international energy producer focused on monetizing its hydrocarbon reserves in the Rovuma Delta Basin in Tanzania and Mozambique. By exploring, developing, producing and commercializing known petroleum systems, Artumas is poised to deliver a sustainable rate of return for its stakeholders while creating social and economic opportunities for the people of Eastern Africa. Artumas' common shares trade on the Oslo Stock Exchange under the symbol AGI.
FORWARD LOOKING STATEMENTS
This news release may contain forward-looking statements including expectations of future production, cash flow and earnings. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ from those anticipated. These risks include, but are not limited to: the risks associated with the oil and gas industry (e.g. operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), commodity price, price and exchange rate fluctuation and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures.
This news release is not for dissemination in the United States or to any United States news services. The common shares of Artumas have not and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold in the United States or to any U.S. person except in certain transactions exempt from the registration requirements of the U.S. Securities Act and applicable state securities laws.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
WARNING
Oslo Bors has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
