NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN
The Board of Directors in PSI Group ASA has resolved to offer to purchase PSI Group shares from shareholders, as of 11 May 2012, owning 1000 shares or less. The offer price will be equal to the volume weighted average closing price for the PSI-share at the Oslo Stock Exchange in the period from and including 15 May to and including 8 June 2012, however the price will be maximum NOK 8,00 (approximately SEK 9,40) and not less than NOK 4,00 (approximately SEK 4,70).
The board of directors wishes to offer the shareholders whose individual shareholdings have a small nominal value an opportunity to sell their shares without incurring transaction costs. This will also contribute to reduce the Company's administrative costs in connection with its shareholder base.
The offer document will be distributed on 15 May 2012. The offer will be open for acceptance from and including 15 May 2012 to and including 8 June 2012 at 17:00 CET. Settlement will be made in cash on or about 15 June 2012 to those shareholders who accept the offer. The company will cover all transaction costs associated with the completion of the offer.
The shares purchased through the offer may, inter alia, be deleted on the next annual general meeting in PSI Group ASA, sold in the market or used for other purposes.
Following completion of the offer, the company intends to apply to the Ministry of Trade and Industry for permission to carry out a compulsory acquisition of all shares owned by shareholders whose total holding of the company's shares has a value of less than NOK 500. The compulsory acquisition will be completed on the basis of the same purchase price per share as in the offer.
The company will use the authorization to buy back its own shares issued by its 2012 Annual General Meeting as a basis for the offer.
The maximum number of shares covered by the offer is approximately 1 000 000 shares.
The company has engaged Nordea Issuer Services in Sweden and Norway to complete the offer.
For more information regarding the offer, please contact:
+47-22 48 62 62 (Nordea in Norway) or,
+47 08-20 69 44 (Nordea in Sweden)
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For more information regarding PSI Group ASA, please contact
Anders Nilsen, CFO PSI Group, telephone +47 93 25 94 10, e-mail anders.nilsen@psi.no
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For more information please visit www.psigroup.no
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)
