Recommendation from the Board of Directors to the shareholders regarding the offer from Navigazione Montanaris S.p.A
The following resolution has come to a decision from a unanimously Board of Directors at a extraordinary Board Meeting.:
In the opinion of the Board of Directors, the offer from Navigazione Montanari does not reflect the value of the underlying assets in I.M. Skaugen and the company's potential for further value creation. Thus the Board of Directors do not recommend the company's shareholders to accept the offer. This recommendation is based on written evaluations of the offer by Handelsbanken Markets and DnB Markets, which have been obtained on the initiative of the company. None of the board members or key management personnel who own shares directly or indirectly through companies that they control in full or in part, including by proxy, will accept the offer. It has not been practically possible to obtain the views of the company's employees with respect to the offer that has been made.
For full statement from the Board of Directors of I.M. Skaugen ASA, follow the enclosed link.
Recommendation from the Board of Directors regarding the offer from Navigazione Montanaris S.p.A