The results of Elkem´s ASA purchase
offer to all shareholders of Icelandic Alloys Ltd. (ISJA) are as follows. In total 434 shareholders accepted the offer
and sold shares of nominal value kr. 117.049.077,- which represents 10,73% of
all shares. Previously Elkem ASA had
bought the Government´s 10,49% holding
and Sumitomo Corporation´s 3,4% holding.
The accepted offers are now being
evaluated but payment under the offer is due no later than January 24th
Upon conclusion of the purchase Elkem
ASA will hold shares of nomial value kr. 1.060.574.361,- amounting to 97,2% of
all shares, but had previously owned 72,6%.
It is clear that ISJA will no longer fulfill the listing requirements of
the Iceland Stock Exchange and it is foreseeable that the shares will be
delisted from the Main List.
In light of the
fact that Elkem ASA will, upon conclusion of the purchase, hold more than 90%
of the shares in ISJA and control an equivalent voting right, the company will
evaluate whether it will redeem shares of other shareholders in accordance with
article 24 of the Act on Public Limited Companies nr. 2/1995.