- Aker Kværner will acquire some 1,300 employees from TH Global. As compensation, Aker Kværner will pay TH Global GBP 64 million over a period of six years. The transaction will have an immediate, positive annual profit effect for Aker Kværner of approximately GBP 7 million.
Stock exchange releases
Shares in Aker Floating Production will commence trading on the OTC list of the Norwegian Securities Dealers Association today under the ticker code AKFP.
On completion of the private placement, Aker Floating Production is expected to issue approximately 12.0 million shares and have 22 million total shares outstanding. Aker ASA, (through Aker Capital), invested USD 10MM in the private placement. Aker ASA will through its fully owned subsidiary Aker Capital own approximately 48% of the Company following the private placement. Aker ASA has an estimated gain of approximately NOK 800 million in this transaction which will be reflected in the second quarter.
The transaction is expected to be completed in April 2006.
We refer to previous notice. Corrected notice is enclosed. The correction is marked with an asterisk.
Please find enclosed the Notice of Ordinary General Meeting in Aker ASA on 30 March 2006, which will be sent to the company`s shareholders today. The Annual Report 2005 will be forwarded to the shareholders in a separate posting.
Enclosed please find recommendations from Aker ASA`s Nomination committee in connection with the company`s Annual General Meeting on 30 March 2006.
Langøy succeeds Kjell Inge Røkke as board chairman. Røkke will continue as a regular board member until the company`s annual shareholders` meeting on 30 March 2006.
The Board of Directors will propose to the annual shareholders` meeting the payment of an ordinary dividend of NOK 6.5 per share for the 2005 accounting year.
On the release day, representatives of the three companies will participate in a presentation of accounting figures to be held at Shippingklubben, Haakon VIIs gate 1, Oslo.
TRG Holding`s General Manager, Olav Revhaug, has purchased 46 667 Class B TRG Holding shares on the same terms as Mr. Langøy. Langøy and Revhaug have purchased the shares through their respective companies as investments. Their two share purchases amount to 33.3 percent of TRG Holding`s Class B stock.
A new Certificate of Registration confirming the new share capital has today been sent to Oslo Børs.
Set out below are key milestones in relation to the completion of the merger and the upcoming dividend from Aker ASA.
Please find enclosed the presentation material to be used in the presentation of Aker`s third quarter 2005 results today.
The book value of the Group`s investments was NOK 8.1 billion. The market value of its listed investments alone exceeded NOK 17 billion as of 2 November 2005. Aker Drilling, Aker House (Aker Hus) and other non-listed assets are not included in the latter figure.