Detailed stock exchange announcement: Proposed demerger of Wilh. Wilhelmsen ASA with transfer to Treasure ASA and call for an EGM
Detailed stock exchange announcement: Proposed demerger of Wilh. Wilhelmsen ASA with transfer to Treasure ASA and call for an EGM Reference is made to the stock exchange notice of 10 February 2016 regarding the proposed restructuring of the Wilh. Wilhelmsen ASA (WWASA), whereby the shares in Den Norske Amerikalinje AS (owning the 12.04% shareholding in Hyundai Glovis Co. Ltd. (Hyundai Glovis) is demerged from WWASA and merged into a separately entity, Treasure ASA, which will be listed on Oslo Børs upon the completion of the demerger. The board of directors of WWASA and Treasure ASA today announce that they have signed a joint demerger plan and resolved to propose to the respective general meetings that the shareholders shall approve the demerger of WWASA, whereby all WWASA's shares in Den Norske Amerikalinje AS are transferred to Treasure ASA. An EGM to deal with the demerger is to be held on 20 April 2016.
The detailed stock exchange announcement, as well as the demerger documents and notice to an EGM is attached hereto.