Reference is made to the release sent 5 July 2010 and today regarding RS Platou Markets AS’ order to purchase up to 10% of the shares in TTS Group ASA.
TTS Group has entered into an agreement with Scana Industrier ASA to issue 6,722,920 shares in TTS Group ASA at a price of NOK 6.30 per share, constituting 9.9% of the share capital in the company through a private placement of shares.
RS Platou Markets AS acted as sole advisor in the transaction.
As a consequence of the purchase, Scana Industrier ASA will own 9.9% of the share capital in TTS Group.
The issuance of shares to Scana Industrier ASA will be made by the board pursuant to authorization granted by the company’s general meeting held on 3 June 2010 and is expected to be completed within the end of this week.
Bergen 06.07.10
Contact:
Johannes D. Neteland
President & CEO TTS Group ASA
Tel +47 918 46 906
Christian Rugland
CFO Scana Industrier ASA
Tel +47 952 952 55
