Final results of the rights issue
(Thomson Reuters ONE) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES, AUSTRALIA, CANADA OR JAPAN
Norsk Hydro ASA's (Hydro) Board of Directors has today approved the final
allocation of the shares offered in the rights issue based on the allocation
criteria set out in the prospectus dated June 21, 2010. 381,053,600 new shares
were offered in the rights issue and have now been allocated. At the end of the
subscription period on July 9, 2010, Hydro had received subscriptions for a
total of 513,248,736 shares. The rights issue was consequently oversubscribed by
34.7 percent.
365,893,835 shares of the new shares offered were subscribed for through the
exercise of subscription rights, corresponding to 98.9 percent excluding
unutilized subscription rights available to certificate holders.
Holder of Founder and Subscription certificates had the right to subscribe to
13,790,036 million shares, corresponding to 3.62 percent, of the new shares
offered in the rights issue. During the subscription period such holders
representing 2,643,502 subscription rights presented themselves and were
allocated subscription rights. Including unutilized subscription rights
available to certificate holders, 96.0 percent of the new shares offered were
subscribed for.
Subscribers who have oversubscribed will be allocated additional shares pro rata
based on the number of subscription rights exercised by each subscriber.
15,159,765 shares, corresponding to 4.0 percent, are available for
oversubscription, and the total number of subscription rights exercised by
oversubscribers is 154.3 million. No allocation has been made to subscribers
without subscription rights.
Notification letters for allocated new shares and the corresponding subscription
amount to be paid by each subscriber are expected to be distributed today.
Payment for the allocated shares falls due on July 15, 2010.
The new shares may not be transferred or traded before they are fully paid and
the share capital increase relating to the rights issue has been registered with
the Norwegian Register of Business Enterprises, which is expected on or about
July 19, 2010. The new shares are expected to be transferred to the VPS accounts
of the subscribers and admitted to trading on the Oslo Stock Exchange and the
London Stock Exchange on the same day.
Approximately 17,000 shareholders directly registered in VPS, representing
approximately 2.8 million subscription rights, did not exercise their
subscription rights either by subscribing to new shares or selling their rights
during the subscription period. These shares are included in the allocated
shares to the oversubscribers.
Hydro will receive gross proceeds of approximately NOK 10,022 million from the
rights issue. Hydro's Extraordinary General Meeting resolved on June 21, 2010,
to increase the share capital by NOK 418,396,852.80 through the issue of
381,053,600 new shares. Following registration of the share capital increase in
the Norwegian Register of Business Enterprises, Hydro's share capital will be
NOK 1,780,037,864.478, divided into 1,621,163,811 shares, each with a nominal
value of NOK 1.098.
Contact
Contact Stefan Solberg
Cellular +47 91727528
E-mail Stefan.Solberg(at)hydro.com
Contact Stian Hasle
Cellular +47 97736022
E-mail Stian.Hasle(at)hydro.com
*********
This announcement is not an offer for sale of securities in the United States or
any other country. The securities referred to herein have not been registered
under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"),
and may not be sold in the United States absent registration or pursuant to an
exemption from registration under the U.S. Securities Act. Hydro does not intend
to register any portion of the offering of the securities in the United States
or to conduct a public offering of the securities in the United States. Any
offering of securities will be made by means of a prospectus that may be
obtained from Hydro and that will contain detailed information about the company
and management, as well as financial statements. Copies of this announcement are
not being made and may not be distributed or sent into the United States,
Canada, Australia, Japan or any other jurisdiction in which such distribution
would be unlawful or would require registration or other measures.
In any EEA Member State that has implemented Directive 2003/71/EC (together with
any applicable implementing measures in any member State, the "Prospectus
Directive"), this communication is only addressed to and is only directed at
qualified investors in that Member State within the meaning of the Prospectus
Directive.
This announcement is only directed at (a) persons who are outside the United
Kingdom; or (b) investment professionals within the meaning of Article 19 of the
Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the
"Order"); or (c) persons falling within Article 49(2)(a) to (d) of the Order; or
(d) persons to whom any invitation or inducement to engage in investment
activity can be communicated in circumstances where Section 21(1) of the
Financial Services and Markets Act 2000 does not apply.
Certain statements included within this announcement contain forward-looking
information, including, without limitation, those relating to (a) forecasts,
projections and estimates, (b) statements of management's plans, objectives and
strategies for Hydro, such as planned expansions, investments or other projects,
(c) targeted production volumes and costs, capacities or rates, start-up costs,
cost reductions and profit objectives, (d) various expectations about future
developments in Hydro's markets, particularly prices, supply and demand and
competition, (e) results of operations, (f) margins, (g) growth rates, (h) risk
management, as well as (i) statements preceded by "expected", "scheduled",
"targeted", "planned", "proposed", "intended" or similar statements.
Although we believe that the expectations reflected in such forward-looking
statements are reasonable, these forward-looking statements are based on a
number of assumptions and forecasts that, by their nature, involve risk and
uncertainty. Various factors could cause our actual results to differ
materially from those projected in a forward-looking statement or affect the
extent to which a particular projection is realized. Factors that could cause
these differences include, but are not limited to: our continued ability to
reposition and restructure our upstream and downstream aluminium business;
changes in availability and cost of energy and raw materials; global supply and
demand for aluminium and aluminium products; world economic growth, including
rates of inflation and industrial production; changes in the relative value of
currencies and the value of commodity contracts; trends in Hydro's key markets
and competition; and legislative, regulatory and political factors.
No assurance can be given that such expectations will prove to have been
correct. Hydro disclaims any obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise.
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1431270]
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Norsk Hydro via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 13.07.2010 - 13:22 Uhr
Sprache: Deutsch
News-ID 23830
Anzahl Zeichen: 0
contact information:
Town:
Oslo
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 209 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Final results of the rights issue"
steht unter der journalistisch-redaktionellen Verantwortung von
Norsk Hydro (Nachricht senden)
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