Result of arbitration received
(Thomson Reuters ONE) -
Stavanger, 23 November 2010: Reference is made to the announcement of 22 March
2010 concerning an agreement between Norwegian Energy Company ASA (Noreco,
OSE:NOR) and Norsk Tillitsmann ASA referring a disagreement regarding the
conversion price in Noreco's NOK 218.5 million convertible bond loan with ISIN
NO 001036883.0 (the "Convertible Bond") to an arbitration panel.
The parties have now received the final judgment by the arbitration panel. In
accordance with Noreco's contentions, the judgment concludes that the conversion
price under the Convertible Bond shall not be subject to any adjustment as a
result of the share issue by Noreco in May 2009. Consequently there will be
neither increase of shares underlying the Convertible Bond nor any dilution of
existing shareholders.
For further information, please contact:
Kjetil Bakken, Investor Relations Manager (+47 918 89 889)
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1464673]
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: NORECO via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 23.11.2010 - 08:45 Uhr
Sprache: Deutsch
News-ID 49013
Anzahl Zeichen: 1689
contact information:
Town:
Stavanger
Kategorie:
Business News
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"Result of arbitration received"
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