Statoil changes company name to Equinor

Statoil  Equinor annual general meeting

Statoil Equinor annual general meeting

This entails that 15 May 2018 is expected to be the last day of trading on Oslo Børs under the ticker “STL”.

As of May 16, 2018 (inclusive), the Company's shares are to be traded on the Oslo Børs under the new ticker "EQNR".

The name change was first announced in March, when chief executive Eldar Sætre said Equinor "captures our heritage and values, and what we aim to be in the future".

On 15 May 2018, the annual general meeting (AGM) in Statoil ASA (OSE: STL, NYSE:STO) will vote on the proposal to change the companys name, from Statoil ASA to Equinor ASA. As a outcome of the name change, Statoil will change its stock exchange ticker to EQNR with an effect from the start of trading on May 16, 2018.

Statoil held its name for 46 years and serves as the largest operator in Norway, where it is also 67% owned by the Norwegian Government.

The new name will also be reflected in the Norwegian company's American Deposit Rights (ADRs), which are traded on the NY bourse, as of May 17, at the earliest. The company exited the offshore wind industry in December 2017.

By dropping the "state" prefix and the "oil" suffix, the 46-year-old company is looking towards a future where its activities become more worldwide, with a larger share of investments spent on natural gas and renewable energy sources.

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