StockMarketWire.com - Norwegian oil and gas operator DNO on Friday scooped up more shares in Faroe Petroleum amid an ongoing bid to acquire the company.

On 3 January, DNO acquired a further 2,754,110 shares in Faroe at prices ranging between 147p and 152p a share, bringing its total stake in the company to 30.6%.

The total number of Faroe Shares which DNO may count towards the satisfying the conditions to takeover the company was currently at 163,274,694 Faroe Shares, representing approximately 43.8% of Faroe's issued share capital.

As at 1.00 p.m. on 2 January 2019, DNO's had secured a total of 48,986,566 Faroe shares at the offer price, representing 13.1% of Faroe's shares.

The announcement comes a day after DNO extended the closing date for its 152p-a-share takeover offer for Faroe Petroleum by a further two weeks to 16 January 2019.




At 10:00am: [LON:FPM] Faroe Petroleum PLC share price was +0.5p at 153.7p



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