SOURCE: StatoilHydro

December 15, 2008 10:38 ET

STATOILHYDRO ASA ANNOUNCES RESULTS OF MEETINGS OF HOLDERS OF CERTAIN OUTSTANDING NOTES

STAVANGER, NORWAY--(Marketwire - December 15, 2008) -


Stavanger, Norway - 15 December 2008. StatoilHydro ASA ("StatoilHydro") announced that at meetings held in London on 15 December 2008 holders of its Dollar Notes, Euro 2011 Notes and Euro 2029 Notes (as defined below) approved, by separate extraordinary resolutions, amendments to the terms and conditions of such Notes, as set forth in the consent solicitation statement dated 29 October 2008. Holders of StatoilHydro's Sterling Notes and Yen Notes (as defined below) approved similar amendments to the terms and conditions of such Notes at meetings held on 27 November 2008. Accordingly, the amendments to the terms and conditions of each of the Notes are implemented with effect from 15 December 2008.

The acceptance conditions set forth in the consent solicitation statement dated 29 October 2008 have been satisfied or waived and on 22 December 2008, StatoilHydro will make consent payments of ¥300,000 for each ¥100,000,000 nominal amount of the Yen Notes, £3 for each £1,000 nominal amount of the Sterling Notes, EUR 3 for each EUR 1,000 nominal amount of the Euro 2011 Notes and U.S.$3 for each U.S.$1,000 nominal amount of the Dollar Notes to holders of such Notes who properly delivered valid and unrevoked consents with respect to such Notes on or prior to 5:00 p.m. London time on 13 November 2008 (the "Early Expiration Date"). StatoilHydro will make consent payments of £1 for each £1,000 nominal amount of the Sterling Notes and ¥100,000 for each ¥100,000,000 nominal amount of the Yen Notes to holders of such Notes who properly delivered valid consents with respect to such series of Notes after the Early Expiration Date but prior to 10:00 a.m. London time on 25 November 2008, EUR 1 for each EUR 1,000 nominal amount of the Euro 2011 Notes and U.S.$1 for each U.S.$1,000 nominal amount of the Dollar Notes to holders of such Notes who properly delivered valid consents with respect to such series of Notes after the Early Expiration Date but prior to 10:00 a.m. London time on 13 December 2008, and EUR 300 for each EUR 100,000 nominal amount of the Euro 2029 Notes to holders of such Notes who properly delivered valid consents with respect to such series of Notes prior to 10:00 a.m. London time on 13 December 2008.

The consent solicitation relates to StatoilHydro's £225,000,000 6.125 per cent. Notes due 2028 (of which £225,000,000 are outstanding) (the "Sterling Notes"), ¥5,000,000,000 Fixed Rate Notes due 2012 (of which ¥5,000,000,000 are outstanding) (the "Yen Notes"), EUR 500,000,000 5.125 per cent. Notes due 2011 (of which EUR 500,000,000 are outstanding) (the "Euro 2011 Notes"), U.S.$375,000,000 5.75 per cent. Notes due 2009 (of which U.S.$375,000,000 are outstanding) (the "Dollar Notes") and EUR 20,000,000 Step-up Notes due 2029 (of which EUR 20,000,000 are outstanding) (the "Euro 2029 Notes" and together with the Sterling Notes, the Yen Notes, the Euro 2011 Notes and the Dollar Notes, the "Notes").

Lucid Issuer Services Limited ("Lucid") has acted as Information Agent and Tabulation Agent and Barclays Capital has acted as Solicitation Agent. Holders of the Notes who have submitted valid consents can direct questions relating to receipt of the consent payments to Lucid at +44 (0)20 7704 0880.


This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

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Contact Information

  • Contact:
    Lucid
    +44 (0)20 7704 0880