I.M. Skaugen ASA was registered in the Corporate Register midnight 17 February 1997 upon final dissolution of I.M. Skaugen ASA (IMS) and Skaugen PetroTrans ASA (SPT).
Out of the total merger compensation, 80% was settled through issues of 6,642,556 new shares and the remaining 20%, a total of NOK 173 mill, was paid out as a cash compensation.
The final settlement of the cash compensation per share that form the basis of the payment through the Norwegian Registry of Securities (VPS) is as follows:
· NOK 25.46 per share in the merged company I.M. Skaugen ASA,
which is equal to approx. NOK 0.771 per share in the old IMS and approx. NOK 0.397 per share in the old SPT.
The amount is already confirmed paid out from the Company’s account and will be debited in favour of the shareholders via VPS on the 26 February 1997.
For further information, please contact Hege Anfindsen, phone 22 83 30 60 or e-mail address: hege.anfindsen@ngc.no, or X.400: G=HEGE; S=ANFINDSEN; P=NGC;C=NO. This press release and other information concerning I.M. Skaugen ASA are also available on the Internet:: http:/www.huginonline.no/SKA/index_e.shtml