Registration of the demerger of Wilh. Wilhelmsen ASA, increase of the share capital in Treasure ASA and amendment of articles of association, publication of prospectus for Treasure ASA
7 June 2016 - The consummation of the demerger of
Wilh. Wilhelmsen ASA ("WWASA") was registered with the
Norwegian Registry of Business Enterprises after the
close of trading on Oslo Børs today on 7 June 2016.
The exchange ratio in the demerger is 52/48. As a
consequence of the demerger, the share capital of
WWASA has thus been reduced to NOK 114,400,000 from
NOK 220,000,000 through a reduction of the par value
of each existing share in WWASA to NOK 0.52 from NOK
1. Simultaneously, with the reduction in WWASA's share
capital, Treasure's share capital has been (i) reduced
to zero from NOK 1,000,000 by redeeming all shares in
Treasure and distributing the reduction amount to
WWASA and (ii) increased to NOK 22,000,000 from zero
by issuing 220,000,000 consideration shares in
Treasure to eligible shareholders. The consideration
shares each have a par value of NOK 0.10 and are
issued at a ratio of one consideration share in
Treasure for each share the eligible shareholders hold
in WWASA.
The consideration shares in Treasure will be
distributed on a pro rata basis to shareholders of
WWASA as of the expiry of the 7 June 2016 (the cut-off
date), as such shareholders appear in the
shareholders' register for WWASA at the Norwegian
Central Securities Depositary (VPS) as of 9 June 2016
(the record date). The consideration shares in
Treasure will be delivered and made available to
eligible shareholders on or about 10 June 2016.
The above-mentioned capital changes have resulted in
updated articles of association for both WWASA and
Treasure.
Treasure will from Wednesday 8 June 2016 trade under
the ticker "TRE" on Oslo Børs with ISIN NO 001
0763550. The prospectus prepared in connection with
the listing of Treasure is now available on
www.treasureasa.com and www.abgsc.no. Hard copies of
the prospectus may be obtained by contacting Morten
Lertrø, CFO of Treasure and investor relations contact
(morten.lertro@wilhelmsen.com or +47 90 41 99 94) or
ABG Sundal Collier Norge ASA (+47 22 01 60 00).
There is no change in the ISIN NO of WWASA, which will
still be NO0010571680.