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At its meeting today, the Board of Oslo Børs resolved to admit shares in Fairmount Heavy Transport, Akva Group, Eitzen Chemical, Pertra and Norwegian Property to listing on Oslo Børs.
Fairmount Heavy Transport to be listed on Oslo Børs
The Board of Oslo Børs resolved to admit shares in Fairmount Heavy Transport NV to listing on the SMB List of Oslo Børs. The Board agreed to exempt the company from the requirement that a listed company must have been in existence for at least three years and have carried out the major part of its business for at least three years, cf. Section 2-1 of the Stock Exchange Regulations.
This exemption was granted because analysis of the company is very largely dependent on factors that are available to the market in other ways, and the market therefore has access to sufficient information to reach an informed opinion on the company. Based on an overall evaluation, Oslo Børs has concluded that an exemption from the requirement for the company to have been in existence and carried out the major part of its business for at least three years is in the interests of investors and the public.
The company must publish an approved prospectus prior to the first day of listing, and must enter into a management company agreement with Oslo Børs, cf. Section 2-6 of the Stock Exchange Regulations.
The Board authorised the President of Oslo Børs to fix the date of the first day of listing, which is to be no later than 8 December 2006.
About Fairmount Heavy Transport
Fairmount Heavy Transport was founded in 2005 to become a leading provider of high end ocean transportation services for clients seeking, reliable and safe transportation of their “high value/high spec” floating and non-floating cargoes. The Company is converting two modern state-of-the-art barges to self-propelled semi-submersible vessels at Malta Shipyards Ltd in Malta. The vessels are expected to come into service in the first and second quarter 2007. Once the vessels have been fully converted they will trade in the world markets to transport large floating and non-floating cargoes mainly used in the offshore oil and gas industry, such as drilling rigs, floating production platforms, modules, etc.
Akva Group ASA to be listed on Oslo Børs
The Board of Oslo Børs resolved to admit shares in Akva Group ASA to listing on Oslo Børs.
The company must publish a prospectus approved by Oslo Børs prior to the first day of listing.
The Board authorised the President of Oslo Børs to decide on which List the company shall be included and to fix the date of the first day of listing, which is to be no later than 8 December 2006.
About Akva Group
AKVA group is the world's leading supplier of technology to the fish farming industry. The products comprise of software, sensor systems, feed systems, feed barges, steel cages, plastic cages and a number of other products to the world's fish farming industry. The company has a number of subsidiaries in Norway, Chile, Canada, Scotland and Turkey, in addition the company has established a broad distribution network and is thereby the only supplier with global market presence.
Eitzen Chemical to be listed on Oslo Børs
The Board of Oslo Børs resolved to admit shares in Eitzen Chemical ASA to listing on the SMB List of Oslo Børs.
The Board agreed to exempt the company from the requirement that a listed company must have been in existence for at least three years and have carried out the major part of its business for at least three years, cf. Section 2-1 of the Stock Exchange Regulations.
This exemption was granted since the main factors for pricing the company's shares are considered to be relatively transparent, and analysis of the company is very largely dependent on factors that are available to the market other than through historic financial accounting information. In addition, the company will publish in its listing prospectus pro-forma figures for its entire operations for a period of 1 1/2 years together with financial information for the business activities acquired from Camillo Eitzen ASA. The market will therefore have access to sufficient information to reach an informed opinion on the company. Based on an overall evaluation, Oslo Børs has concluded that an exemption from the requirement for the company to have been in existence and carried out the major part of its business for at least three years is in the interests of investors and the public.
The company must publish a prospectus approved by Oslo Børs prior to the first day of listing.
The Board authorised the President of Oslo Børs to fix the date of the first day of listing, which is to be no later than 8 December 2006.
About Eitzen Chemical
Eitzen Chemical ASA (Eitzen Chemical) is a Norwegian Public Limited Company established on 15 June 2006 with head office at Lysaker, Norway. Eitzen Chemical is a holding company consisting of three primarily wholly owned companies consisting of Eitzen Chemical (Denmark) A/S, Fouquet Sacop S.A. and Eitzen Chemical Shipholding AS (previous Songa Shipholding AS). The commercial operations are conducted by subsidiaries in Denmark, Singapore, France, Spain and U.S.A. The technical operations are handled by Eitzen Maritime Services ASA. Eitzen Chemical and its subsidiaries conduct their business activities in the market for transport of chemicals, with cargoes including acids, easy chemicals, vegetable oils, caustic soda, clean petroleum products and wine. Eitzen Chemical controls a total of 81 chemical tankers, whereof 64 is wholly owned by Eitzen Chemical. The Company owns in addition 38 new-buildings which will be delivered within the year-end 2010.
Pertra to be listed on Oslo Børs
The Board of Oslo Børs resolved to admit shares in Pertra ASA to listing on the SMB List of Oslo Børs.
The Board agreed to exempt the company from the requirement that a listed company must have been in existence for at least three years and have carried out the major part of its business for at least three years, cf. Section 2-1 of the Stock Exchange Regulations.
This exemption was granted because analysis of the company is very largely dependent on factors that are available to the market in other ways, and the market therefore has access to sufficient information to reach an informed opinion on the company. Based on an overall evaluation, Oslo Børs has concluded that an exemption from the requirement for the company to have been in existence and carried out the major part of its business for at least three years is in the interests of investors and the public.
The Board authorised the President of Oslo Børs to fix the date of the first day of listing, which is to be no later than 8 December 2006.
About Pertra
Pertra ASA is an independent E & P company focused on exploration and development of small and medium-sized petroleum resources on the Norwegian Shelf. The company is based in Trondheim, and is funded by a strong group of local and international investors.
The vision of the company is to be a successful and effective company with respect to operate small and medium-sized oil and gas fields on the Norwegian Shelf. This will be obtained through the acquisition of new exploration acreage in licensing rounds, and through acquisition of exploration acreage. Development and operations will be managed in close cooperation with the vendors of relevant services.
Norwegian Property to be listed on Oslo Børs
The Board of Oslo Børs resolved to admit shares in Norwegian Property ASA to listing on the SMB List of Oslo Børs.
The Board agreed to exempt the company from the requirement that a listed company must have been in existence for at least three years and have carried out the major part of its business for at least three years, cf. Section 2-1 of the Stock Exchange Regulations.
This exemption was granted because analysis of the company is very largely dependent on factors that are available to the market in other ways, and the market therefore has access to sufficient information to reach an informed opinion on the company. Based on an overall evaluation, Oslo Børs has concluded that an exemption from the requirement for the company to have been in existence and carried out the major part of its business for at least three years is in the interests of investors and the public.
The Board stipulated that the company must publish a prospectus approved by Oslo Børs prior to the first day of listing, and must raise at least NOK 350 million of new capital through its planned share issue.
The Board authorised the President of Oslo Børs to fix the date of the first day of listing, which is to be no later than 8 December 2006.
About Norwegian Property
Norwegian Property is a newly established property investment company aiming to deliver attractive returns to its shareholders and to give investors access to a listed and liquid property company share. The company has a clear investment strategy with exclusive focus on centrally located commercial properties in the largest cities in Norway. The property portfolio consists of 41 high-standard commercial holdings with attractive locations, acquired at a total cost of roughly NOK 14.6 billion. Covering some 590 000 square metres, the properties will yield an annual rental income of almost NOK 900 million. Virtually all the area is leased, and the average remaining term for these leases at 30 September was 7.8 years. The properties have been acquired with an average implicit net yield after tax adjustments of about six per cent.
