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NORDA ASA: Applying for delisting from Oslo Stock Exchange

21. May 2013: The Board of Norda ASA has decided to submit to the Company's General Meeting 20. juni 2013 a proposal for applying to the Oslo Stock Exchange ASA («OSE») for the consent of delisting the Company's shares from OSE.

The background for the Board's proposal is that the Company's shares no longer are considered suitable for continued listing. The company does no longer fulfill the requirements regarding enterprise value and number of shareholders set by the Oslo Stock Exchange, and the listing represents ongoing challenges for a company of Nordas size. Continued listing at OSE is expected to have a cost of at least NOK 2 mill annually. Equity book value by year end 2012 was NOK 27 mill.

Provided that the proposal is adopted by the Company's General Meeting, an application for delisting will be submitted to OSE as soon as possible. The Company's shareholders and the market will be kept informed of the process, hereunder when a possible application is sent to OSE, as well as of the expected date of the implementation of the delisting of the shares, after OSE has considered such an application, and possibly given its consent.

The Board will ask the General Meeting for the authority to consider listing at the Norwegian Securities Dealers Association OTC-list, provided the proposal for delisting at Oslo Stock exchange is adopted by the General Meeting. The Board wants to facilitate free trading of the Company's shares, and which - in all respects - to protects the Shareholder's interests, including maintaining the interests of the investors holding a minor number of shares.


Read the notice in Norwegian here.