I.M. Skaugen ASA has purchased NOK 1 million of the I.M. Skaugen ASA Convertible Bond at a rate of 252, which gives 16,666 own shares if converted.
A convertible bond of NOK 124 million was granted at the extraordinary general meeting of the company on 25th June 2001 and placed in the Norwegian market in July 2001. The nominal value of the Convertible bond is presently NOK 96.500.000,-, of which I.M. Skaugen ASA holds NOK 26.5 million. The convertible bond has seven years maturity with an option to convert to shares in I.M. Skaugen ASA (IMSK) during the first five years (05/2006). The present conversion price is NOK 60 per share less NOK 3.50 per share, which will be paid at time of conversion as a compensation for dividend.