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ISJA
The results of Elkem´s ASA purchase offer to all shareholders of Icelandic Alloy   13.1.2003 14:40:22
Flokkur: Fyrirtækjafréttir      Íslenska  English

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 2003.

 

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.


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