Merger Between Odim and OHI on Hold

The proposal to merge OHI AS and ODIM AS was withdrawn by the OHI board at an extraordinary general meeting of the latter company on September 12th. Since the meeting had no objections, the planned merger was not approved. Underlying the board's decision was a question raised by a large minority shareholder about the external valuation of OHI in connection with the merger.

The boards of neither OHI nor ODIM ASA, as the largest shareholder in OHI, want minority shareholders to feel uncertain about the valuation. The merger has accordingly been put on ice. A process for assessing the accuracy of the evaluation has been initiated.

ODIM ASA currently owns 84.5 per cent of the outstanding shares in OHI. Norsk Vekst ASA hold another 10 per cent, whilst other shareholders have 5.5 per cent. A stock exchange announcement of 2 July reported that the boards of ODIM ASA, ODIM AS and OHI AS proposed that OHI AS should be merged with ODIM AS. In an announcement of July 17th, it was also reported that the merger would be implemented as a group merger, with settlement in shares issued by ODIM ASA. The date for approving the merger plan was set for September 12th.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Marketing Manager
Expertise: Marketing|PR / Corporate Communications|Sales
Location: Waller, TX
 
Administrative Assistant IV
Expertise: Executive|Secretarial or Administrative
Location: Houston, TX
 
US Houston: Account Rep, Bus Dev
Expertise: Business Development|Marketing|Sales
Location: Houston, TX
 
search for more jobs

Brent Crude Oil : $50.97/BBL 1.53%
Light Crude Oil : $48.75/BBL 1.79%
Natural Gas : $2.92/MMBtu 0.68%
Updated in last 24 hours