Reference is made to the stock exchange announcements issued by Aker Floating Production ASA ("AKFP") and Aker ASA on 7 November 2011 on the proposed merger between AKFP and Aker Floating Holding AS, a wholly owned subsidiary of Aker ASA.
In preparation of the proposed merger, and in line with Aker ASA's stock exchange announcement of 7 November 2011, Aker Floating Holding AS has today purchased 15,915,206 shares, equalling 72.34 per cent of the outstanding shares and votes, in AKFP from Converto Capital Fund AS (the "Transaction").
The Transaction is based on a share price of NOK 2.68 per share in AKFP, entailing a total consideration to Converto Capital Fund AS of NOK 42,652,752.08. The share price is equal to the volume weighted average price for AKFP's shares during the 20 last trading days prior to the announcement of the proposed merger on 7 November 2011.
Following completion of the Transaction, Aker Floating Holding AS will own 15,915,206 shares in AKFP, equalling 72.34 per cent of the shares and votes of AKFP, whereas Converto Capital Fund AS will not own any shares in AKFP. The ultimate ownership to the transferred shares will however remain unchanged following completion of the Transaction, as Aker ASA controls all votes in both Converto Capital Fund AS and Aker Floating Holding AS.
Oslo Børs has exempted the Transaction from the mandatory offer rules under the Norwegian Securities Trading Act (the "Securities Trading Act") pursuant section 6-2 (3) of the Securities Trading Act.
The information contained herein is subject to the disclosure requirements of sections 4-1 and 4-2 of the Securities Trading Act as well as the decision of Oslo Børs to exempt the Transaction from the mandatory offer rules of the Securities Trading Act.
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)