Oslo Børs approves listing of Treasure ASA
3 June 2016 - Reference is made to the previous stock exchange notices regarding the 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 ("Treasure"), which will be listed on Oslo Børs upon the completion of the demerger.
The board of directors of Oslo Børs has today approved the listing of the shares in Treasure on Oslo Børs, subject to completion of the demerger of WWASA and publication of the prospectus.
The creditor notice period applicable to the demerger expires at 24:00 hours CET on 6 June 2016 and the consummation of the demerger will be registered with the Norwegian Register of Business Enterprises following close of trading on Oslo Børs on 7 June 2016.
Below are key dates related to the consummation of the demerger of WWASA and listing of the shares of Treasure on Oslo Børs:
* Last day of trading in the WWASA shares inclusive of right to consideration shares as demerger consideration (cut-off date): 7 June 2016
* Registration of the completion of the demerger with the Norwegian Register of Business Enterprises: 7 June 2016 (after close of trading)
* First day of trading in the WWASA shares exclusive of right to consideration shares as demerger consideration: 8 June 2016
* First day of trading in the Treasure shares on Oslo Børs: 8 June 2016
* Record date(*): 9 June 2016
* Delivery of the Treasure consideration shares to eligible shareholders' VPS accounts: 10 June 2016
(*)Shareholders of WWASA as of the expiry of the cut- off date and as they appear in WWASA's shareholders register with the VPS as of expiry of the record date, will receive one consideration share in Treasure for each share they own in WWASA as of expiry of the cut- off date as recorded with the VPS.
Trading in the Treasure shares will commence prior to delivery of such shares to eligible shareholders VPS accounts. Trades during this period until delivery of the shares to eligible shareholders' VPS accounts will be settled on a T+2 basis. No account-to-account transactions and no transactions with settlement prior to 10 June 2016 will be allowed in this period.