IMSK - Conversion to shares

Bertel O Steen jr and SES AS, a company owned by Bertel O Steen jr., have today requested to convert its holding in the 11% I. M. Skaugen ASA 2001/2008 convertible bond (ISIN NO-001-0097470), nominal value of NOK 11 million. The conversion will give 183,332 new shares.

Bertel O Steen jr. is member of the board of I.M. Skaugen ASA.

Companies owned and controlled by Bertel O Steen jr. holds 610,223 shares before the conversion and 793,555 shares after the conversion equal to 12.67 % of the shares in I.M. Skaugen ASA.

Bertel O Steen jr and SES AS, a company owned by Bertel O Steen jr., have today requested to convert its holding in the 11% I. M. Skaugen ASA 2001/2008 convertible bond (ISIN NO-001-0097470), nominal value of NOK 11 million. The conversion will give 183,332 new shares.
 
Bertel O Steen jr. is member of the board of I.M. Skaugen ASA.
 
Companies owned and controlled by Bertel O Steen jr. holds 610,223 shares before the conversion and 793,555 shares after the conversion equal to 12.67 % of the shares in I.M. Skaugen ASA.
 
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.