The capital reduction was decided by Yara's General Meeting 19 May 2005, and is now implemented as all legal time limits for protests have expired.
The background for the capital reduction is that the company, within the established frames for its share buy-back program, has acquired 3,001,400 shares which will be cancelled, at the same time as 1,703,834 shares owned by the Norwegian State will be redeemed, keeping the State's ownership share constant at 36.21%. The total costs incurred through the buy-backs and redemption of the State's shares amount to approximately NOK 323 million out of which NOK 117 million is consideration to the Norwegian State. The amount is based on the average share price the company has paid in connection with the share buy-backs.
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Contact |
Egil Hogna, Investor Relations
Telephone (+47) 24 15 71 66
Telephone (+47) 24 15 71 66
Cellular (+47) 90 187 865
E-mail egil.hogna@yara.com
Arne Cartridge, Media Relations
Telephone (+47) 24 15 73 01
Cellular (+47) 47 900 900
E-mail arne.cartridge@yara.com
Yara International ASA is the world's leading supplier of mineral fertilizers with particular strength in nitrogen-based fertilizers. Yara has a local presence in 50 countries worldwide. Yara sells more than 20 million tonnes of mineral fertilizers in more than 120 countries. Yara offers fertilizers meeting the nutrient needs of local crops supported by agronomic advice to make farming more profitable and agriculture more sustainable. Yara has a strong position in industrial markets in Europe as a supplier of nitrogen-based chemicals and is the leading supplier of liquid CO2.