Atlantic Petroleum Seeks Up to DKK 600M in New Capital

P/F Atlantic Petroleum's board has called an extraordinary general meeting for Sept. 2. Shareholders will vote on three capital authorization proposals that could raise up to DKK 600 million. The current share capital is DKK 3.7 million.

The first proposal authorizes the board to increase share capital by up to DKK 200 million through subscription with pre-emptive rights for existing shareholders. The subscription price can be below market value. A separate proposal for another DKK 200 million would allow an increase without pre-emptive rights, for cash or in-kind contributions. That subscription price cannot be lower than market value. The board also seeks authorization to issue convertible notes up to DKK 200 million, also without pre-emptive rights.

All three proposals require approval by two-thirds of votes represented and two-thirds of votes cast at the meeting. The board's authorization would run from Sept. 2, 2026 to Sept. 1, 2031.