Abbot Completes Acquisition of Songa
After the completion of Abbot Holdings Norge AS' voluntary offer to acquire all issued and to be issued shares in Songa made on May 8, 2006, Abbot held in total 97.6 percent of the total issued shares in Songa, and a corresponding share of the voting rights of the company. Under the extended offer, Abbot received acceptances for an additional 2.15 percent of the Songa shares, and did consequently hold a total of 99.75 percent of the total shares and votes of Songa.
In a meeting on June 20th, the board of directors of Abbot resolved to carry out a compulsory acquisition of the remaining 166,987 shares in Songa in accordance with Section 4-26 of the Norwegian Private Limited Companies Act, cfr. the attached minutes from the board meeting. These shareholders were offered a redemption price of NOK 41.75 per share. An amount equivalent to the aggregate redemption price offered - NOK 6,971,707.25 - has been deposited in a specific bank account with DnB NOR in accordance with the provisions of the act. Consequently, Abbot now holds 100% of the shares and voting rights of Songa.
Delisting of Songa from the OTC list was resolved in an extraordinary general meeting on June 26, 2006.
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