NEC - BNY Mellon Appointed as Depositary
BNY Mellon Appointed as Depositary Bank by Norse Energy Corp ASA
NEW YORK, Sept. 9 /PRNewswire-FirstCall/ -- BNY Mellon, the global leader in asset management and securities servicing, has been selected by Norse Energy Corp ASA (Norse) as the depositary bank for its American depositary receipt (ADR) program. Each Norse ADR represents 10 ordinary shares and trades on the over-the-counter (OTC) market. Norse ordinary shares trade on the Oslo Stock Exchange (OSE) under the symbol "NEC."
Norse Energy is engaged in oil and gas exploration and production, with operations in the U.S. and Brazil. Norse also owns and operates pipeline systems in the U.S. for the gathering and transmission of natural gas. Norse was formed as a result of a merger between NaturGass (USA) AS, a Norwegian private company, and Northern Oil ASA, a Norwegian publicly traded entity whose shares were listed on the OSE. Norse Energy Corp first listed on the OSE in 2005.
"We are pleased with this agreement with BNY Mellon as it has a strong and proven track record," said Anders Kapstad, chief financial officer of Norse. "We wish to optimize U.S. investor access to our company, and we believe BNY Mellon has the resources and expertise necessary to help us achieve that goal."
"We look forward to helping Norse unlock the potential of the U.S. capital markets," said Michael Cole-Fontayn, chief executive officer of BNY Mellon's Depositary Receipt business. "As the world's leading depositary, BNY Mellon will utilize its resources to develop a long and mutually beneficial partnership with Norse and its investors."
BNY Mellon acts as depositary for more than 2,100 American and global depositary receipt programs, acting in partnership with leading companies from 67 countries. With an unrivalled commitment to helping securities issuers succeed in the world's rapidly evolving financial markets, the Company delivers the industry's most comprehensive suite of integrated depositary receipt, corporate trust and stock transfer services. Additional information is available at www.bnymellon.com/dr.
BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. The company is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $20.7 trillion in assets under custody and administration, $926 billion in assets under management, services $11.8 trillion in outstanding debt, and processes global payments averaging $1.8 trillion per day. Additional information is available at bnymellon.com.
This release is for informational purposes only. BNY Mellon provides no advice nor recommendation or endorsement with respect to any company or securities. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities. Depositary Receipts: Not FDIC, State or Federal Agency Insured; May Lose Value; No Bank, State or Federal Agency Guarantee.
http://www.streetinsider.com/Press+Releases/BNY+Mellon+Appointed+as+Depositary+Bank+by+Norse
BNY Mellon Appointed as Depositary Bank by Norse Energy Corp ASA
NEW YORK, Sept. 9 /PRNewswire-FirstCall/ -- BNY Mellon, the global leader in asset management and securities servicing, has been selected by Norse Energy Corp ASA (Norse) as the depositary bank for its American depositary receipt (ADR) program. Each Norse ADR represents 10 ordinary shares and trades on the over-the-counter (OTC) market. Norse ordinary shares trade on the Oslo Stock Exchange (OSE) under the symbol "NEC."
Norse Energy is engaged in oil and gas exploration and production, with operations in the U.S. and Brazil. Norse also owns and operates pipeline systems in the U.S. for the gathering and transmission of natural gas. Norse was formed as a result of a merger between NaturGass (USA) AS, a Norwegian private company, and Northern Oil ASA, a Norwegian publicly traded entity whose shares were listed on the OSE. Norse Energy Corp first listed on the OSE in 2005.
"We are pleased with this agreement with BNY Mellon as it has a strong and proven track record," said Anders Kapstad, chief financial officer of Norse. "We wish to optimize U.S. investor access to our company, and we believe BNY Mellon has the resources and expertise necessary to help us achieve that goal."
"We look forward to helping Norse unlock the potential of the U.S. capital markets," said Michael Cole-Fontayn, chief executive officer of BNY Mellon's Depositary Receipt business. "As the world's leading depositary, BNY Mellon will utilize its resources to develop a long and mutually beneficial partnership with Norse and its investors."
BNY Mellon acts as depositary for more than 2,100 American and global depositary receipt programs, acting in partnership with leading companies from 67 countries. With an unrivalled commitment to helping securities issuers succeed in the world's rapidly evolving financial markets, the Company delivers the industry's most comprehensive suite of integrated depositary receipt, corporate trust and stock transfer services. Additional information is available at www.bnymellon.com/dr.
BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. The company is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $20.7 trillion in assets under custody and administration, $926 billion in assets under management, services $11.8 trillion in outstanding debt, and processes global payments averaging $1.8 trillion per day. Additional information is available at bnymellon.com.
This release is for informational purposes only. BNY Mellon provides no advice nor recommendation or endorsement with respect to any company or securities. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities. Depositary Receipts: Not FDIC, State or Federal Agency Insured; May Lose Value; No Bank, State or Federal Agency Guarantee.
http://www.streetinsider.com/Press+Releases/BNY+Mellon+Appointed+as+Depositary+Bank+by+Norse
