Good year on the stock market

June 18, 2002, 14:30 CEST

The first anniversary of Statoil’s listing on the Oslo and New York stock exchanges falls today, 18 June. This share has proved a good buy.

“It’s been a good investment for both employees and private investors,” affirms chief financial officer Inge K Hansen.

“A Statoil employee who invested NOK 25,000 on 18 June last year has received a return of 25.4 per cent over 12 months.”

Other investors have received a return of 17.7 per cent.

This is based on the purchase price of NOK 66 per share, including a NOK 3 discount. The Statoil share stood at NOK 68 yesterday.

Employees and other private shareholders who have retained their stock since the listing will receive one bonus share for every 10 they hold. In addition comes a dividend of NOK 2.85 per share.

Statoil expects to issue about 1.5 million bonus shares, worth roughly NOK 100 million at yesterday’s share price.

The group currently has some 63,500 shareholders, including its own employees, small shareholders and international investment funds.

Mr Hansen feels the first year as a listed company has been positive.

“We’ve been treated fairly by the market. The share price has developed well in relation both to the overall stock market and to companies we benchmark ourselves against.”