Orkla's Corporate Assembly has today, Thursday, 13 January 2005, approved Orkla making a mandatory offer for all remaining Elkem shares.

Since Orkla's investment in Elkem will thereby become a part of Orkla's industrial area, all Elkem shares that are owned by Orkla's subsidiaries will today be transferred to Orkla ASA. This concerns the following subsidiaries and shares:

 

Rederiaktieselskapet Orkla:  7 shares

Nordstjernen Holding AS:  200 496 shares

Total:  200 503 shares

 

The shares have been transferred at a price of NOK 235 per share. The total number of Elkem shares held by Orkla remains unchanged as a result of these internal transactions.