Aker Horizons ASA Announces Significant Merger Updates
Aker Horizons ASA has recently provided an important update regarding its merger with Aker Horizons Holding AS. This significant move is anticipated to bring numerous advantages to its shareholders and reinforce the company's foundation in sustainable business practices.
Details of the Merger
The company's board of directors has confirmed that the merger will officially take place following the expiration of the creditor notice period. This announcement follows the extraordinary general meeting, where it was decided that shareholders would receive their portion of the merger through shares distributed as a dividend in-kind.
As part of the merger resolution, Aker Horizons ASA intends to distribute its shares in Aker Horizons Holding AS to existing shareholders. This will enable shareholders to directly benefit from the merger's financial consideration.
Shareholder Distribution and Benefits
Once the merger is finalized, shareholders will receive both cash consideration and a calculated number of shares from Aker ASA, specifically NOK 0.267963 in cash, alongside a share allotment of 0.001898 Aker ASA shares for every share they hold in Aker Horizons. It is crucial to note that shares that result in fractions will be rounded down to the nearest whole number, or to zero, ensuring a fair distribution process.
Any excess shares resulting from this rounding process will be issued to DNB Bank ASA, which will handle the sale of these shares on behalf of the affected shareholders. The shares are expected to be promptly credited to the shareholders' VPS accounts, with cash payments anticipated shortly after.
Post-Merger Position of Aker Horizons ASA
Upon completion of the merger, Aker Horizons ASA will maintain a robust financial position, projected to hold a cash balance of approximately NOK 20 million alongside NOK 1.6 billion in convertible debt. It is essential for shareholders to recognize that while they will receive Aker ASA shares, they will also retain their existing shares in Aker Horizons after the merger has been completed.
The board will actively work on establishing the future strategy and operational structure for Aker Horizons ASA following the merger, ensuring that the interests of shareholders remain a top priority during this transition period.
Looking Forward
Aker Horizons ASA emphasizes transparency and communication with its shareholders during this significant merger process. The management is committed to providing further updates as the merger progresses and strategies for the company's future are established.
Frequently Asked Questions
What is the merger involving Aker Horizons ASA?
The merger involves Aker Horizons ASA and its subsidiary Aker Horizons Holding AS, highlighting a reorganization intended to benefit shareholders directly.
What will shareholders receive from the merger?
Shareholders will receive cash consideration and shares in Aker ASA as the company's way of compensating them for their investment in Aker Horizons ASA.
When can shareholders expect to receive their merger benefits?
Payments and share distributions are expected to occur around mid-September, following the merger’s completion.
Will shareholders retain their original shares in Aker Horizons?
Yes, upon completion of the merger, shareholders will retain their Aker Horizons shares alongside their new Aker ASA shares.
How is Aker Horizons ASA preparing for future operations?
The board is actively defining strategic plans for the company post-merger to ensure continued growth and value for its shareholders.
