Aker ASA: Aker purchases the shares in Aker Floating Production
Reference is made to the stock exchange announcements issued by Aker FloatingProduction ASA ("AKFP") and Aker ASA on 7 November 2011 on the proposed mergerbetween AKFP and Aker Floating Holding AS, a wholly owned subsidiary of AkerASA.
In preparation of the proposed merger, and in line with Aker ASA's stockexchange announcement of 7 November 2011, Aker Floating Holding AS has todaypurchased 15,915,206 shares, equalling 72.34 per cent of the outstanding sharesand votes, in AKFP from Converto Capital Fund AS (the "Transaction").
The Transaction is based on a share price of NOK 2.68 per share in AKFP,entailing a total consideration to Converto Capital Fund AS of NOK42,652,752.08. The share price is equal to the volume weighted average price forAKFP's shares during the 20 last trading days prior to the announcement of theproposed merger on 7 November 2011.
Following completion of the Transaction, Aker Floating Holding AS will own15,915,206 shares in AKFP, equalling 72.34 per cent of the shares and votesof AKFP, whereas Converto Capital Fund AS will not own any shares in AKFP. Theultimate ownership to the transferred shares will however remain unchangedfollowing completion of the Transaction, as Aker ASA controls all votes in bothConverto Capital Fund AS and Aker Floating Holding AS.
Oslo Børs has exempted the Transaction from the mandatory offer rules under theNorwegian Securities Trading Act (the "Securities Trading Act") pursuant section6-2 (3) of the Securities Trading Act.
The information contained herein is subject to the disclosure requirements ofsections 4-1 and 4-2 of the Securities Trading Act as well as the decision ofOslo Børs to exempt the Transaction from the mandatory offer rules of theSecurities Trading Act.
This information is subject of the disclosure requirements acc. to §5-12 vphl(Norwegian Securities Trading Act)
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Aker ASA via Thomson Reuters ONE