The Stock Exchange Board also admitted E*Trade as a new member and granted StepStone an exemption to produce information in English only.
Three new companies have been admitted to listing on the Main List.
Nutri Pharma: This decision is conditional on the company carrying out a public new issue of shares and possibly a distribution sale of shares in order to attain a sufficiently wide distribution for the company's shares. If the requirement for the minimum number of holders of at last one round lot of the company's shares for admission to the Main List is not satisfied, the company will be admitted to listing on the SMB list. The first day for listing is to be determined by the President of the Oslo Stock Exchange, but with the proviso that this must be no later than 22 May 2000.
Expert Eilag: This decision is conditional on the company's shares attaining a sufficiently wide distribution. The first day for listing is to be determined by the President of the Oslo Stock Exchange, but with the proviso that this must be no later than 23 May 2000.
PhotoCure ASA: This decision is conditional on the production of a prospectus that meets the requirements set out in the Stock Exchange Regulations in respect of a new listing. The first day for listing is to be determined by the President of the Oslo Stock Exchange, but with the proviso that this must be no later than 1 June 2000. Listing of new primary capital certificates Sparebanken Flora - Bremanger This decision is conditional on the primary capital certificates attaining a sufficiently wide distribution, and on the production of a satisfactory new listing prospectus. The first day for listing is to be determined by the President of the Oslo Stock Exchange, but with the proviso that this must be no later than 22 May 2000.
Transfer to the Main List: The shares of VMETRO, Sofrware Innovation and SuperOffice are, in accordance with applications made by the issuers, to be transferred to the Main List with effect from 2 May 2000.
Oslo Re removed from listing: Shares in Oslo Reinsurance Company are to be removed from listing on the Oslo Stock Exchange. The last day for listing is to be 13 April 2000.
E*Trade Norge admitted as a member of the Oslo Stock Exchange The Stock Exchange Board agreed to admit E*Trade Norge ASA as a member with the right to participate in official quotation and trading for all financial instruments. The President of the Oslo Stock Exchange is authorised to determine the date and practical arrangements for membership to come into effect. Membership must be effective no later than 1 September 2000.
Stepstone permitted to report in English only
The Stock Exchange Board agreed to grant Stepstone permission to produce information required by the Stock Exchange Regulations in English only.
The new companies:
PhotoCure ASA: PhotoCure ASA is a Norwegian development stage pharmaceutical company founded in 1993. PhotoCure is engaged in the research and development of novel therapeutics and diagnostics and related medical devices based on proprietary photodynamic therapy (PDT) technologies. PDT is a two step process involving the application of a drug known as a photosensitiser followed by controlled exposure to a selective light source that activates the drug. All of the company's products are based on proprietary technology from the Norwegian Radium Hospital, the largest comprehensive cancer centre in Northern Europe. PhotoCure has completed final registration studies (phase III) with its first products, Metvix® and Curelight in Europe for actinic keratosis (pre-cancerous skin lesion), and plans to file its first application for marketing approval in Europe during May 2000. Pivotal clinical studies (phase III) in non-melanoma skin cancer (basal cell carcinoma, BCC) are ongoing.
Sparebanken Flora-Bremanger: Sparebanken Flora-Bremanger is an independent savings bank with Flora and Bremanger municipalities as its primary market area. As at 31.12.99, the total assets amounted to NOK 1,850 million, and the bank's profit after tax for 1999 amounted to NOK 22.1 million (1.31% of the average total assets). As a complete provider of financial services, the bank offers investment and insurance products as well as the rather more traditional services such as deposits, loans and payment facilities. The bank serves approximately 14,200 customers, of which 11,600 are private customers and 2,600 are corporate customers. The loan portfolio is distributed between 60% private customers and 40% are corporate customers. Sparebanken Flora-Bremanger is affiliated to Eika-Gruppen AS.
Expert Eilag ASA: Expert Eilag is among Norway's largest commercial enterprises in its two business areas: consumer electronics and electrical materials. Expert Eilag has chain concepts for both of these business areas, and the chain participants are offered favourable purchasing arrangements based on Expert Eilags participation in some of the world's largest purchasing organisations. Expert Eilag takes care of all the purchasing, warehousing, distribution and logistics functions for affiliated dealers of consumer electronics and professional buyers of electrical materials. Expert Eilag has wholesale contracts with 361 dealers affiliated with the company's chain concepts for consumer electronics, in addition to 500 affiliated electrical contractors in the electrical materials business area. The company's activities are nation-wide.
The Expert Eilag ASA Group posted a sales turnover of approximately NOK 3.6 billion in 1999 on a pro forma basis and showed a pro forma profit for the year after tax of approximately NOK 86 million. The Group's equity totalled NOK 425 million as at 31 December 1999, corresponding to an equity ratio of approximately 31 percent. The company raised approximately NOK 430 million in an IPO prior to the listing. Expert Eilag employed 629 man-labour years as at 31 December 1999.
Nutri Pharma ASA: Nutri Pharma ASA is a Norwegian company incorporated in 1993. It develops and commercialises proprietary technologies for functional foods and meal replacement products. Nutri Pharma´s technology is clinically proven. The Company's products are based on bioactive soy compound from soy protein, soy fiber and soy isoflavones that are either patented or have pending patent applications. The company´s products aid in the fight against lifestyle-related diseases such as obesity, high cholesterol and type 2 diabetes, all of which have been linked to cardiovascular diseases The active ingredients are based on all-natural soy. Nutri Pharma, through its co-operation with companies in the consumer foods industry, focuses on incorporating its products into regular consumer food, hopes to offer a significant contribution to the fight against common diseases integrated into normal food consumption.
