Exhibit 23.a

EX-1.5 2 u52146exv1w5.htm EXHIBIT 1.5 exv1w5
 

Exhibit 1(5)
     
  Mandate Agreement CNR 9-2006
 
   
AGREEMENT
CONCERNING ARRANGEMENT SERVICES AND PROVISION OF FINANCIAL ADVICE FOR A PRIVATE PLACEMENT OF
SHARES
Between CanArgo Energy Corp., St. Peter Port, Guernsey GY1 3RR, British Isles (“the Client”) and Terra Securities ASA, org. no. 979561296 as Joint Lead Manager, (“the Arranger”) and Orion Securities ASA, whereby it has been agreed this day as follows (“The Mandate”):
1   Background
 
    The Client plans to carry out a share capital increase of USD 5-20 million (“the Transaction”), in order to increase the company’s financial flexibility with the intent to secure a drilling rig currently drilling for the company, for the drilling of an additional well at the Client’s Manavi or Norio oil fields.
 
    A private placement of minimum USD 5 million will be executed to enable the Client to secure the said rig. The maximum amount of shares to be issued is 20 million.
 
    The transaction is expected to take place on September 19, 2006 and the Client will use its reasonable endeavours admit the shares to trading at the Oslo Stock Exchange by October 19, 2006.
 
    Against this background the Client appoints the Arranger as Joint Lead Manager and Arranger of the Transaction on the detailed terms set out in the Mandate. The Arranger has agreed to cooperate with one more securities firm (“the Joint Lead Manager”). At the request of the Client, Orion Securities ASA will act as Joint Lead Manager.
2   The assignment
2.1   Arranger’ duties
2.1.1   Arrangement services
 
    The Arranger shall manage the Transaction in accordance with the Mandate (“the Assignment”) including matters which the Arranger considers to be material in order for the Client to constitute a suitable investment alternative for financial investors. The Arranger have the necessary authorities from the Client to undertake all that the Arranger find necessary within normal market practise in order to arrange the Transaction. This may include, but is not limited to, advice with regard to capital structure, shareholder structure, shareholder policy, press releases, and other information that shall be announced in the market in connection with the Transaction and registration in the Norwegian Registry of Securities.
     
     
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  Mandate Agreement CNR 9-2006
 
   
The Arranger shall be book-runner and project manager for the Transaction, Including co-ordinating assistance from auditors and lawyers, contact with the Oslo Stock Exchange and VPS, as well as co-ordinating the Joint Lead Manager(s) and other external advisors and suppliers. The Arranger shall be entitled to engage lawyers, auditors and other advisors for the Client’s account in connection with such due diligence review or other matters relating to the Transaction, but subject to pre-approval by to do so by the Client.
The Arranger shall at all times allocate such resources and personnel as are necessary to carry out the assignment in accordance with the Mandate.
2.1.2   Setting of issue price
 
    The issue price will be the prevailing market price at the time of the placement less a 5% (five per cent) discount, resulting in a subscription price equal to NOK 9.10. If new shares are not admitted to trading within five business days of the receipt by the Client from all subscribers of duly signed subscription agreements including Schedule 3 (Selling stockholder questionnaire) to the Subscription Agreeement (the “Trigger Date”), an additional 2.5% Illiquidity discount shall apply; and if new shares are not admitted to trading within ten business days of the Trigger Date, a further and additional 2.5% Illiquidity discount shall apply to the issue price as described.
2.1.3   Presentation material
 
    The Arranger shall assist the Client in preparing a prospectus and/or other presentation material to shareholders and/or potential investors in connection with the Transaction, based on the information the Arranger receives from the Client. The Arranger has no obligation to contribute to advertisement, distribute information and/or documentation that according to the Arranger’s opinion is misleading or insufficient.
2.1.4   Subscription office, allotment and organisation of settlement
 
    The Arranger shall be the subscription offices for the Transaction. The Arranger shall make recommendations to the Client on allotment criteria and the allotment list as well as organise settlement. The Arranger will, if necessary, notify underwriters if an underwriting syndicate has been established. The Arranger will assist the Client in dealing with investors and underwriters which have not settled but, unless otherwise agreed in a separate agreement, the Client itself takes the risk that investors and underwriters are willing and able to settle in accordance with subscription/agreement.
2.1.5   Tax, legal or accounting issues
 
    The Arranger’ duties shall not include advice of a tax, legal or accounting nature.
     
     
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  Mandate Agreement CNR 9-2006
 
   
2.1.6   Market developments
 
    The Arranger does not assume any responsibility that the Transaction can be implemented in accordance with the wishes of the Client, whether this is due to market conditions, developments in the Client or among its shareholders, or other factors.
 
2.2   The Client’s duties
 
2.2.1   Disclosure obligations
 
    The Client undertakes to provide all public and confidential information to the Arranger which may be material to an evaluation of the Client as an investment object, including informing the Arranger on an ongoing basis of the Company’s strategies, plans and other information material to the Share Issue. The Client shall also provide the Arranger with access to all such information it requests from the Client. The Arranger shall also be given the opportunity to review such matters as it considers desirable with the Client’s employees, lawyers, auditors and other advisors. The Client shall in this relation exempt the above-mentioned persons from possible confidentiality and secrecy obligations.
 
    Should there be any changes in relation to matters previously notified to the Arranger, the Arranger shall be notified immediately. Information material to the Transaction or to an evaluation of the Client as an investment object, and which is given by the Client to other units in Terra Securities ASA, shall be given to the Arranger at the same time.
 
2.2.2   Obligations upon press releases and notices to the stock exchange
 
    Press releases or notices to the stock exchange relating to the Client’s operations and financial position and proposals for board or general meeting resolutions during the term of the Mandate, or press releases or notices to the stock exchange material to the contents of, or to an evaluation of, the prospectus and presentation material, shall be made available to the Arranger for comment before being sent out. Such notices are to be sent by telefax to Terra Securities, Corporate Finance, telefax no. +47 22 87 81 75, with reference to the Client’s main contact person within Corporate Finance.
 
2.2.3   Audit of the latest interim accounts
 
    At the request of the Arranger, and/or if applicable according to relevant regulations, the Client’s external auditors shall carry out a limited audit of the latest interim accounts since the published annual accounts.
 
2.2.4   Registration of the increase in capital
 
    The Client is responsible for the registration of the increase in capital and, if applicable, any other registrations in the relevant registry of business enterprises. The Arranger shall within a reasonable time in advance receive draft proposals for
     
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  Mandate Agreement CNR 9-2006
 
   
    resolutions by the Client’s governing bodies which are necessary to implement the Transaction. 
 
2.2.5   Presentation to potential investors and the broking network
 
    Representatives of the Client’s management shall give presentations to potential investors and the broking network, if so requested by the Arranger.
 
3   Fees and reimbursement of expenses, etc.
 
    Terra Securities will be Lead Manager and one more securities firm may act as Joint Lead Manager. All fees related to the Transaction governed by this agreement shall be split between the managers by the following key: The Lead Manager and the Joint Lead Manager will retain 5% in aggregate of the transaction amount in fees earned on funds raised by each manager, based on shares allotted to subscribers. In addition, each of the managers will retain 0.5% of the gross transaction amount in administration fees.
 
    The following relates to the Client’s obligation to pay fees to the Arranger and to reimburse the Arranger’ expenses:
 
3.1   Subscription Fee
 
    As mentioned above, the Client shall pay a fee of 6% in aggregate of the transaction amount (the aggregate gross proceeds of the Transaction) (“Subscription Fee”). The Subscription Fee shall be charged for shares subscribed and allotted to subscribers and any shares allotted to underwriters under any underwriting commitment. The Subscription Fee shall fall due for payment on completion of subscription and allotment.
 
    For the avoidance of doubt, the Arranger shall be responsible for agreeing with the Joint Lead Manager how much has been raised by each manager and the client shall not be responsible for determining the allocation of fees between the managers.
 
3.2   Reimbursement of the Arranger’ direct expenses
 
    The Client shall cover, on the basis of accounts, actual receipts and invoices, the Arranger’ external and internal direct expenses, for example related to the use of lawyers, auditors, other external expertise, printing, despatch, postage, translation, courier services, travel, presentations, securities services, VPS, Oslo Stock Exchange, etc. in relation to carrying out its duties according to The Mandate. The expenses may be invoiced on an ongoing basis. If the Arranger so requests, the Client is obliged to pay an amount on account to the Arranger to cover direct expenses, limited to a maximum of NOK 100,000.
 
    Expenses from external advisors/suppliers may also be invoiced directly to the Client from such advisor/supplier. When such expenses are to be invoiced directly to the Client, the Arranger and Client agrees that the Arranger shall also be regarded as the
     
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  Mandate Agreement CNR 9-2006
 
   
    client in relation to the external advisor/supplier to the extent that the Arranger shall be able to instruct the relevant advisor/supplier and have the right to receive all relevant information from such advisor/supplier.
 
3.3   Government duties/Value Added Tax and settlement currency
 
    All amounts specified in the Mandate are exclusive of Value Added Tax and other government duties, hereby fines and taxes that accumulate because of non-payment or late payment of Value Added Tax and other government duties.
 
    To the extent that at any time under current regulations Value Added Tax or other government duties are fully or partly payable on commissions, fees, services, the Arranger’ direct expenses or other outputs, these charges shall be additional and shall be invoiced to the Client.
 
    All payment to the Arranger in accordance with the Mandate shall be made in Norwegian Kroner (“NOK”).
 
3.4   Authority to charge account
 
    In the case of a transaction where the Arranger assists the Client and which involves a payment to the Client, then the Arranger on behalf of the Client, and with its necessary authority, has the right to establish a bank account for payment of the amount. The Client consents to the Arranger charging the above-mentioned account and any other of the Client’s accounts with Terra Securities ASA in respect of claims for fees and reimbursement of expenses under this Mandate.
 
4   Timetable
 
    n/a
 
5   Confidentiality and publicity, etc.
 
    The Mandate is to be treated as confidential and none of the parties shall publish any information that the Mandate has been entered into or with regard to the contents of this agreement or matters relating to the Mandate, unless the parties agree to that a third party should be given access to such information and to the method of providing such access/publication. This clause applies only in such information is not already publicly available.
 
    If such publication is required by law or regulation or by the Arranger accepted business standards, then the party which is obliged to provide the information shall notify the other party of this immediately and, if possible, before the information is given
     
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  Mandate Agreement CNR 9-2006
 
   
    The Arranger has the right at its own expense, subject to the Client’s prior approval (not to be unreasonably withheld or delayed) to publish information on its own participation in the Transaction through press releases and announcements in accordance with normal market practice. On such publication, the Arranger have the right to use the Client’s logo/trade marks. If the Client publishes information about the Transaction, the Client shall, subject to the Arranger’ prior approval (not to be unreasonably withheld or delayed), be entitled correspondingly to provide information on the Arranger’ participation in the Transaction.
 
    Material/documentation of any kind which is prepared by the Arranger in connection with the Mandate, or information arising from such material, may not be given by the Client to others or otherwise made available to third parties, unless the Arranger has given its prior written approval to such action. This provision also applies to material and documentation which has been prepared on the basis of information from, or with the assistance of, the Client.
 
6   Liability and indemnity, etc.
 
6.1   The Client’s liability for the validity of its own decisions and resolutions
 
    The Client represents that all decisions and resolutions relating to the Mandate, the Transaction and all agreements or decisions relating to the Transaction are being implemented, or will be implemented, on the basis of legally valid resolutions of the Client’s governing bodies and that the decisions and resolutions are in accordance with relevant rules set by law and regulation.
 
6.2   The Client’s liability for the contents of the prospectus and presentation material, etc.
 
    The Client’s board of directors has the final responsibility on behalf of the Client for ensuring that all information given to third parties through presentations, information memorandum(s), prospectus or other sales material is fully correct and complete, and does not contain misleading, incomplete or insufficient information on matters which must be considered important for a third party’s evaluation of investment or other matters which are the subject of the presentation material.
 
    The Client undertakes to hold the Arranger and the Arranger’ employees harmless against all claims which may be made against the Arranger and its employees as a result of execution of the Mandate for the Client, including as a result of errors in decisions and resolutions of the Client’s governing bodies and errors or omissions in the prospectus and presentation material. The Client’s liability covers both an obligation to meet claims the Arranger and its employees may be obliged to pay to third parties, as well as all expenses incurred by the Arranger and its employees in connection with the submission and pursuit of the claim, including expenses for necessary external assistance, process expenses, etc. The Arranger shall notify the
     
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  Mandate Agreement CNR 9-2006
 
   
Client within a reasonable time if a claim is made against the Arranger and its employees and which the Arranger considers may be covered by this point.
The Client shall, If so requested by the Arranger, provide a declaration of completeness and indemnity to the Arranger, signed by the Clients CEO, President or Chairman. The Client’s board of directors shall, if applicable, provide the customary declaration in the prospectus or information memorandum to the extent this is required by law or regulation or if the Arranger so requires.
6.3   Arranger’ liability
The Arranger shall only be liable to pay compensation to the Client if the Arranger has acted with gross negligence or wilfully intent. The Arranger’s liability to pay compensation is limited to the Arranger’s claim for consideration under the Mandate.
If a claim has a connection with the Arranger’s use of documents or other information provided by the Client, or that must be considered approved by the Client, the Arranger will only be liable under the acting or gross negligence. The same applies to claims that are caused by the Arranger following the Client’s written or oral instructions.
The Arranger shall not be liable in any event for indirect losses or damages of any kind incurred by the Client, Including damage or loss as a result of the Client’s agreement or opportunity for an agreement with a third party either lapsing in full or in part or not being correctly fulfilled.
6.4   Exchange of information within the Arranger’ group
The Arranger is a company within the corporate structure of Terra Securities ASA. The Client acknowledges that the Securities Trading Act as well as the company’s own internal guidelines, impose a duty of secrecy between the various units in Terra Securities ASA. This means that other employees of the Arranger or in the Arranger’ group may have information which may be relevant to the Client or its decisions, but which the Arranger will not have access to in execution of its obligations under the Mandate.
6.5   Chinese walls within the Arranger’s firm
The Arranger is a securities firm which offer a broad range of investment services. In order to ensure that assignments undertaken in Corporate Finance are kept confidential, the Arranger’s other activities, including equity research and sales/trading, are separated from Corporate Finance by so-called Chinese walls. The Client acknowledges that the Arranger’ research and trading activity may be perceived to act in conflict with the Client’s interests with regard to the Transaction as a consequence of such Chinese walls.
     
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  Mandate Agreement CNR 9-2006
 
   
6.6   Tape recording
The Arranger reserves a right, but is not obliged, to record incoming and outgoing telephone conversations on tape. The Arranger may record such conversations for its own use and the Arranger has the right to use such recordings as documentation with regard to the customer’s instructions, the Arranger’ advice, etc. Tape recordings will be deleted routinely after a period determined by the Arranger. Tape recordings will only be made available to public authorities upon specific request and only as required by law or regulation.
7   The Mandate’s duration and termination.
The Mandate expires when the Transaction has been implemented and the new shares have been admitted to trading, or both parties agree in writing that the Mandate shall lapse, however no later than the 31st of December 2006.
The Mandate shall, however, in all cases expire no later than 1 month after execution in full, for work commenced under the Mandate that is expected to be accomplished after the 1 month period.
Both the Client and the Arranger may terminate the Mandate with immediate effect by written notice. Postponement of the Transaction or notice of the same shall not constitute termination. All outstanding compensation to the Arranger in accordance with the Mandate shall be paid upon such a termination.
     
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  Mandate Agreement CNR 9-2006
 
   
8   Choice of law and jurisdiction
The Mandate shall be governed by Norwegian law and the parties hereby submit to the jurisdiction of the Oslo District Court.
     Oslo, 19 September 2006
     On behalf of and by authority of
             
CanArgo Energy Corp.
  Terra Securities ASA    
 
           
 
 
 
   
David Robson
  Truls Birkeland    
Chairman
  Head of Corporate Finance    
         
  Orion Securities ASA
 
 
     
  John E. Skajem   
  Director   
 
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ADDENDUM NO. 1
to
the mandate agreement dated 19 September 2006 (the “Mandate Agreement”) between CanArgo Energy Corporation (the “Company”) and Orion Securities ASA and Terra Securities ASA (the “Managers”).
1. BACKGROUND
The Mandate Agreement does not in detail set out how the private placement shall be settled and how the fees and the expenses shall be distributed to the Managers, and the Company and the Managers have agreed to supplement the Mandate Agreement with the additional provisions set out in this addendum.
2. ADDITIONAL PROVISIONS
Each of the Managers will collect amounts due from the subscribers procured by each Manger to be held in escrow by the Managers on behalf of the subscribers. Once the conditions for closing have been fulfilled, the Managers will transfer the gross proceeds received from the subscribers, net of all fees and expenses payable to the Mangers and the maximum penalty interest of up to 5% of their subscriptions (the “Penalty Amount”) the subscribers are entitled to as further described in the Mandate Agreement and the Term Sheet, to a bank account in the Company’s name blocked in favour of the Mangers. The funds are to be released to the Company with automatic and immediate effect when the Managers have received written confirmation from DnB NOR Bank ASA that the share certificates have been issued in the name of Brown Brothers Harriman & Co, as nominee for the subscribers.
The Penalty Amount shall as described above be retained by the Managers on the Managers client accounts. If the subscribers are entitled to the Penalty Amount or any part thereof the Managers shall distribute the applicable amount to the subscribers of the new shares in accordance with their relevant subscription amount in accordance with the terms and conditions of the Subscription Agreement. The Penalty Interest, or any part thereof as applicable, that the subscribers are not entitled to in accordance with the terms and conditions of the Subscription Agreement, shall be paid by the Managers to the Company when due. Any interest shall be of the account of the Company and shall be paid to the Company by the Managers when due.
Based on a 0.5% admin fee to both managers, based on total transaction value and the 5.0% placing commission based on funds raised, all as outlined in the Mandate Agreement, the fees to be deducted from the gross proceeds by each Manger are as follows:

 


 

                         
Number of shares allotted to subscribers procured by Terra
                    5134000  
Number of shares allotted to subscribers procured by Orion
                    7129323  
 
Total number of shares
                    12263323  
 
Total amount NOK
                    111596239  
 
                       
Fees:
          Orion   Terra
Admin
    1,0 %   kr 557981     kr 557981  
Placement
    5,0 %   kr 3243842     kr 2335970  
             
Total fees
          kr 3801823     kr 2893951  
 
                       
Illiquidity discount(s):
          Orion   Terra
>5 days after Trigger Date
    2,5 %   kr 1621921     kr 1167985  
>10 days after Trigger Date
    2,5 %   kr 1621921     kr 1167985  
             
Total discounts
          kr 3243842     kr 2335970  
 
                       
Gross proceeds
          kr 64876839     kr 46719400  
less fees
          kr 3801823     kr 2893951  
less discounts
          kr 3243842     kr 2335970  
             
Net proceeds, full discount
          kr  57831174     kr 41489479  
The calculation of the amounts due to each Manager is based on the division of shares allocated to subscribers procured by each Manger as set out above. In the event of any change in the allocation the relevant amounts shall be recalculated. Enclosed as Attachment 1 hereto is a list of the subscribers, their VPS account numbers and the shares allocated to each subscriber as approved by the Company.
Oslo, 21 September 2006
         
For and on behalf of
  For and on behalf of   For and on behalf of
 
       
Orion Securities ASA
  Terra Securities ASA   CanArgo Energy Corporation
 
       
   
 
       
JONNY SANDQVIST
ADM. DIR.
      DR. DAVID ROBSON

2


 

Attechment 1
to Addendum No. 1
to the Mandate Agreement dated 19 September 2006
Total number of shares to be issued: 12263323
                     
        Subscription,    
    Name   # of shares   VPS acc. #
1  
Aktiv Invest
    50000       011000006517  
2  
Arne Anthi Nilsen
    100000       116000031868  
3  
Arne Hellestø
    500000       096880000771  
4  
Arvid Abrahamsen
    50000       095210099040  
5  
Bjarte Solvang
    50000       052010153956  
6  
Bjørheim Eiendom
    50000       031800351376  
7  
Brigt Rosland
    50000       032900002257  
8  
Cema AS
    50000       016870218365  
9  
Eirik Christophersen
    50000       051372251082  
10  
Harald Melås
    85000       029070000137  
11  
Harstad Invest
    80000       047300004216  
12  
Herman Holding
    54000       079090071626  
13  
Jobas AS
    1000000       094890527684  
14  
John Horgen Ellingsen
    50000       060016008082  
15  
Karl Flatås
    100000       116000022768  
16  
Kjell Arne Grønning
    50000       113709913090  
17  
Kjetil Grønskag
    250000       111600107135  
18  
Knut Erik Hagen
    555000       117103024628  
19  
Lockman Myran
    50000       115400365231  
20  
Magnar Furuhaug
    50000       060010110884  
21  
Magnor Nordmark
    50000       032900000772  
22  
Nesagut
    50000       032900038384  
23  
Nils Johan Olsen
    50000       016870143241  
24  
Ola Flo
    50000       039920002910  
25  
Ole Kenneth Thomassen
    160000       030000079340  
26  
Paul Olav Øien
    50000       117105702635  
27  
PLG Holding
    50000       042000163891  
28  
Roger Teimansen
    50000       117106031513  
29  
Spencer Trading
    300000       060057500005  
30  
Stein Harry Rrubach
    50000       116200277253  
31  
Stig Juvik
    50000       079099750527  
32  
Stormskjold Eiendom
    50000       032900038004  
33  
Stormskjold Tall
    50000       032900038178  
34  
Sunde Invest AS
    50000       116000031645  
35  
Thor Sølve Tørressen
    200000       032900033914  
36  
Tore Bjørn Gloppe
    50000       011620200297  
37  
Tormod Wangen
    100000       117105041885  
38  
Ulf Atle Hansen
    50000       079099697702  
39  
Walter Bjørnstad
    200000       070580000621  
40  
Øyvind Nitter
    200000       052013071742  
41  
4 høns AS/ Bernt Helen
    46700       119104612260  
42  
Aksel K Nilsen
    46700       119100612801  
43  
Aluminor Structures (John Kvåle)
    46700       032400024426  
44  
Anders Torp
    46700       119100617172  
45  
Arild Kvilt
    46150       119104614134  
46  
Arild Sponland
    46700       119100603883  
47  
Arne Fjeldstad
    46700       117103006716  

 


 

                     
        Subscription,    
    Name   # of shares   VPS acc. #
48  
Arnold Johnsen
    46700       119100602331  
49  
Bjørn Stensrud
    46700       119100607868  
50  
Borgestad
    274700       119100612488  
51  
Brødrene Nordbø
    219700       119100610110  
52  
Caiano AS
    46150       079099694972  
53  
Carl Peder Eiane
    46700       031803150221  
54  
Carpe Diem Ullsfoss
    54900       119100614872  
55  
Carsten Aunaas
    46700       119100616109  
56  
CDC Invest
    46150       112703007883  
57  
Chrisima Invest (Odd B. Mosnes)
    46700       096860010022  
58  
Dag Wendelboe
    46700       119104615255  
59  
DnB Nor
    300000       070040002464  
60  
E Holding AS
    109900     [to be submitted to DnB by orion
61  
Egil Martin Berg
    46150       119100603396  
62  
Erik Myhre
    92300       115400118721  
63  
Eriksen Eiendom
    46150       094860000960  
64  
Euramar Invest
    51600       119100618477  
65  
Finansplan
    92300       119100608627  
66  
Frisk Invest
    46100       119104617632  
67  
Geir Moen
    54900       119100606894  
68  
Geirmund Kaland
    46700       119100611027  
69  
Gjerde Invest
    76900       119100610417  
70  
Gorm Holmdal
    51600       117106057591  
71  
Gunnar Glesåen
    46700       119100614336  
72  
Harald Arvid Berge
    46150       119100617362  
73  
Inge Førde
    46150       119104617186  
74  
Jan Nizialik AS
    109900       119100614203  
75  
Jens Heige Hatland
    103300       119104617913  
76  
John Hoem
    46700       119100605300  
77  
John Wollner
    46700       119100608916  
78  
Jon Kåre Foikestad
    46700       087020004955  
79  
Jørn Brunvall
    46700       052010168244  
80  
Karasjok Billjardservice
    46700       119100612439  
81  
Karstein Gjersvik
    103300       119100616430  
82  
Karsten Hagen
    46700       119100604618  
83  
Kjartan Sylta
    46700       119100603347  
84  
Kjell Andal
    46700       119100615614  
85  
Kjetil Arnfinn Sandal
    46150       119104617970  
86  
Kloberget Invest AS
    46700       119104617947  
87  
Knut Arne Johannessen
    46700       119100605169  
88  
Knut WB Wang
    46150       119100604121  
89  
Krag & Co
    46700       119100613742  
90  
Krefting AS
    46700       112704028797  
91  
Leif Meen
    46700       119100618436  
92  
Leiv Flaaten
    46700       053370008533  
93  
Magne Storetvedt
    46700       119100608734  
94  
Magne Aaby
    135350       119104611221  
95  
Martin Haug
    46150       119100606156  
96  
Nordic Finans AS (Per Steina)
    46700       115400177511  
97  
Olav Hansson
    140100       119104614498  
98  
Ole Petter Barka
    46700       116200278848  
99  
Onia AS
    51600       119100616166  
100  
Orion Aktiv Forvaltning
    1215433       119100603636  
101  
Peca Invest
    46150       119100616265  
102  
Per Gunnar Andersen
    109890       030309002480  
103  
Per Ivar Skinstad
    120000       119104612336  
104  
Per Jonny Martinsen
    46700       119100610565  
105  
Per Nergaard
    46150       119100613171  

 


 

                     
        Subscription,    
    Name   # of shares   VPS acc. #
106  
Per Ruud
    46700       020100006335  
107  
Prosject Design as (KEP Finans)
    46150       112706046318  
108  
Ragnar Bruget
    109900       119100606290  
109  
Ragnar Haldor Tveit
    46700       116200211880  
110  
Resong AS
    46700       110800202613  
111  
Storgata 4 Risør Holding
    46700       119100614591  
112  
Sven Erik Helgesen
    46150       119100611175  
113  
Sven Rune Magnussen
    46700       119100603420  
114  
Thor Moss Bergesen
    65900       119100618501  
115  
Tom Hagness
    109900       119100603586  
116  
Tor Alfheim
    46700       097140119831  
117  
Torgeir Jordhøy
    46150       119104618846  
118  
Tormod Limmesand
    219750       073220006172  
119  
Torstein Omnes
    46150       026651005089  
120  
Torstein Søland
    46150       061380009078  
121  
Tromstrygd
    65900       119100616588  
122  
Unik Natur Hotels
    46700       119104613607  
123  
Vollvik Invest
    109900       052031005144  
124  
VS Investering
    65900       119104615933  
125  
Wilhelm Jordan AS
    46150       112704038184  
126  
Willy Kristensen
    51600       119100602307  
127  
Yamba AS
    54900       062630028223  
128  
Aanestad Panagri AS
    109900       115400421819  
   
 
               
 
   
TOTAL
    12263323