Shares of Newly Combined StatoilHydro to Begin Trade on October 1st
|Thursday, September 27, 2007
The completion of the merger is expected to take place before the opening of the markets in Oslo on Monday October 1st. As a result, this will be the first day of trading in the StatoilHydro share. Consequently, Friday September 28th will be the last day that the Norsk Hydro ASA shares will trade inclusive of the right to receive Statoil shares.
Each Norsk Hydro ASA shareholder will receive Statoil shares based on their shareholder holdings registered at the Norwegian Central Securities Depository (VPS) on October 3, 2007, that is, reflecting trading undertaken on September 28th with settlement on a T+3 basis.
One share in Norsk Hydro ASA entitles the shareholder to 0.8622 shares in StatoilHydro ASA. Fractions of shares will not be issued. Fractional shares will be aggregated into whole shares and sold in the market. The net proceeds, i.e. the selling price after deduction of accrued costs in connection with the transaction, will be distributed proportionally between those shareholders entitled to fractions.
The consideration shares will be delivered to Hydro’s shareholders via the VPS on October 3, 2007 and will be available in investors’ accounts on October 4, 2007. Any relevant cash proceeds for fractions of shares are expected to be paid on October 11, 2007.
After the completion of the merger, the company’s name will change to StatoilHydro ASA. New share capital will be NOK 7,971,617,757.50 comprising 3,188,647,103 shares with a nominal value of NOK 2.50 each.
The STL ticker code and ISIN number NO0010096985 remain unchanged.
A new stock exchange announcement will be published on October 1, 2007.
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