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The Board of Oslo Børs admits seven new companies to listing

At its meeting on 16 June 2010, the Board of Directors of Oslo Børs resolved to admit shares in Oppstartsfase 1 (Wilh. Wilhelmsen), Morpol, Multi Surface Solutions and Storm Real Estate to listing on Oslo Børs. The Board also resolved to admit shares in OIG Offshore Installation Group, Saga Tankers and Gastem to listing on Oslo Axess.

Oppstartsfase 1 (Wilh. Wilhelmsen) ASA to be listed on Oslo Børs

The Board resolved to admit shares in Oppstartsfase 1 ASA to listing on Oslo Børs. Prior to admission to listing, Oppstartsfase 1 will change its name to Wilh. Wilhelmsen ASA following a restructuring of the Wilhelmsen group.

The Board agreed to exempt the company from the requirement that a listed company must have been in existence for at least three years, cf. Sections 2.3.1 and 2.3.2 of the Listing Rules. This exemption was granted because the company's business has been in existence, but has been carried out by different legal entities.

The Board stipulated that, prior to the first day of listing, the company must satisfy the requirement for the number of shareholders as specified in Section 2.4.2 of the Listing Rules, and at least 25% of the shares to be admitted to listing must be held by the general public as required by Section 2.4.1 of the Listing Rules. In addition, the company must prior to the first day of listing and provide documentary evidence that the reorganisation of the group, including the merger with Wilh. Wilhelmsen ASA, has been completed as planned.

The Board authorised the Chief Executive Officer of Oslo Børs to fix the date of the first day of listing, which is to be no later than 30 July 2010.

About Wilh. Wilhelmsen ASA
Wilh. Wilhelmsen ASA (WW) offers a comprehensive global network of ocean transportation and integrated logistics services for car and ro-ro cargo. WW is the only listed pure play car and ro-ro transportation and logistics company in the world, aiming at being a vehicle for further growth through further consolidation in the car and ro-ro transportation and logistics markets. Through its joint ventures, WW will manifest its position as the world leading operator within this niche, continue to expand its services in emerging markets and explore further synergies between the operating companies in the group.

 

Morpol ASA to be listed on Oslo Børs

The Board resolved to admit shares in the salmon processing company Morpol ASA to listing on Oslo Børs.

The Board agreed to exempt the company from the requirement that a listed company must have been in existence for at least three years, cf. Sections 2.3.1 and 2.3.2 of the Listing Rules. This exemption was granted because the company's business has been in existence, but has been carried out by different legal entities.

The Board stipulated that, prior to the first day of listing, the company must satisfy the requirement for the number of shareholders as specified in Section 2.4.2 of the Listing Rules, and at least 25% of the shares to be admitted to listing must be held by the general public as required by Section 2.4.1 of the Listing Rules.

If the company does not satisfy the requirement for the minimum number of shareholders for listing on Oslo Børs, the company will be admitted to listing on Oslo Axess, subject to the company satisfying the requirements of Section 2.4.2 of the Oslo Axess Listing Rules and satisfying the other requirements.

The Board authorised the Chief Executive Officer of Oslo Børs to determine whether the company should be listed on Oslo Børs or Oslo Axess, and to fix the date of the first day of listing, which is to be no later than 30 July 2010.

About Morpol
The Morpol Group is engaged in salmon processing as well as sale and distribution of finished salmon products. The Morpol Group’s main products are: Cold and hot smoked salmon, gravadlax, fresh salmon fillets, frozen salmon portions, organic salmon, wild salmon and salmon specialties. The Morpol Group had revenue of approximately EUR 340 million in 2009.

Founded in 1996 in Ustka on the Baltic coast of Poland, the company employs over 3,000 people in eight countries. Morpol Group is the world leader in smoked salmon. The company has achieved its world leading position through the efficiency of processing activities, a constant focus on product quality and service provided to retail and food service customers. Morpol serves customers across Europe, in Japan and the United States by offering value for money.

 

Multi Surface Solutions ASA to be listed on Oslo Børs

The Board resolved to admit shares in Multi Surface Solutions ASA to listing on Oslo Børs. Multi Surface Solutions is a holding company for companies involved in the surface treatment industry.

The Board agreed to exempt the company from the requirement that a listed company must have been in existence for at least three years, cf. Sections 2.3.1 and 2.3.2 of the Listing Rules. This exemption was granted because the company's business has been in existence, but has been carried out by different legal entities.

The Board stipulated that, prior to the first day of listing, the company must satisfy the requirement for the number of shareholders as specified in Section 2.4.2 of the Listing Rules, and at least 25% of the shares to be admitted to listing must be held by the general public as required by Section 2.4.1 of the Listing Rules. The Board also stipulated that the company must publish an approved prospectus prior to the first day of listing, and that it must raise a minimum of NOK 600 million through its planned share issue and complete the purchases of the entire share capital of Malermester Buer AS and of Sandå Sverige AB.

If the company does not satisfy the requirement for the minimum number of shareholders, the company will be admitted to listing on Oslo Axess, subject to the company satisfying the requirements of Section 2.4.2 of the Oslo Axess Listing Rules and satisfying the other requirements.

The Board authorised the Chief Executive Officer of Oslo Børs to determine whether the company should be listed on Oslo Børs or Oslo Axess, and to fix the date of the first day of listing, which is to be no later than 30 July 2010.

About Multi Surface Solutions ASA
Multi Surface Solutions ASA is a leading provider of surface solutions in Norway and Sweden. The company provides surface solutions for interior, exterior, landscaping and other surfaces to professional, government and private clients. The company has national coverage in both countries, employs 2,700 professionals and had unaudited consolidated pro forma revenues in 2009 of NOK 2,049 million.

 

Storm Real Estate ASA to be listed on Oslo Børs

The Board resolved to admit shares in the real estate company Storm Real Estate ASA to listing on Oslo Børs.

The Board stipulated that the company must publish an approved prospectus prior to the first day of listing.

The Board authorised the Chief Executive Officer of Oslo Børs to fix the date of the first day of listing, which is to be no later than 30 July 2010.

About Storm Real Estate ASA
Storm Real Estate ASA is a real estate company focusing on Russia. The company’s business strategy is to acquire and manage modern yielding commercial properties in Moscow and St Petersburg. The property portfolio consists of two office buildings, Gasfield in Moscow and Grifon House in St. Petersburg, with a total lettable area of approximately 20,000 square metres, and a total value of USD 83 million (as of 31 March 2010). Both buildings are today fully let to solid companies within the oil, gas and pharmaceutical industries.

 

OIG Offshore Installation Group ASA to be listed on Oslo Axess

The Board resolved to admit shares in the oil service company OIG Offshore Installation Group ASA to listing on Oslo Axess.

The Board stipulated that, prior to the first day of listing, the company must satisfy the requirement for the number of shareholders as specified in Section 2.4.2 of the Oslo Axess Listing Rules, and at least 25% of the shares to be admitted to listing must be held by the general public as required by Section 2.4.1 of the Oslo Axess Listing Rules. The Board also stipulated that, prior to the first day of listing, the company must publish an approved prospectus and that it must raise a minimum of USD 115 million of new equity through its planned share issue and complete the acquisitions of Dockship II ApS and Global Mooring Services AS as planned.

The Board authorised the Chief Executive Officer of Oslo Børs to fix the date of the first day of listing, which is to be no later than 30 July 2010.

About OIG Offshore Installation Group ASA
OIG Offshore Installation Group ASA (“OIG”) offers offshore installation and subsea services to oil companies and contractors. OIG combines offshore installation expertise with a proven and efficient vessel design, in order to offer customers an efficient package of offshore installation services. The OIG group consists of the subsidiary Global Mooring Services, an experienced organization with a proven offshore installation track record from major FPSO projects, and three purpose built installation vessels plus one support vessel. The vessels are built on an innovative, proven vessel design, with up to 3–5 times larger deck space than traditional construction vessels. The Company has technical and commercial management agreements with Harren & Partner and with J. Poulson Shipping A/S.

 

Saga Tankers to be listed on Oslo Axess

The Board resolved to admit shares in Saga Tankers ASA to listing on Oslo Axess.

The Board stipulated that, prior to the first day of listing, the company must have a board of directors that satisfies the exchange’s requirements for independence in relation to the company's larger shareholders, its executive management and material business contacts, cf. Section 2.3.2 of the Oslo Axess Listing Rules and publish an approved prospectus.

The Board authorised the Chief Executive Officer of Oslo Børs to fix the date of the first day of listing, which is to be no later than 30 July 2010.

About Saga Tankers
Saga Tankers ASA is a Norwegian shipping company focusing on owning large crude carriers and to provide stable dividends to investors. Technical and commercial management of Saga Tankers’ assets is undertaken by market-leading service providers. The Company will remain opportunistic when assessing long-term time charter opportunities versus spot market trading of its vessels, with a focus on maximizing shareholder value.

 

Gastem Inc. to be listed on Oslo Axess

The Board of Oslo Børs resolved at its meeting on 28 April 2010 to admit shares in Gastem Inc. to listing on Oslo Axess. The company has resubmitted its application since it was not ready to be admitted to listing before the deadline of 28 April 2010 specified in the resolution.

The Board resolved to admit shares in the oil and gas company Gastem Inc. to listing on Oslo Axess.

The Board stipulated that, prior to the first day of listing, the company must satisfy the requirement for the number of shareholders as required by Section 9.2, second paragraph, item 2 of the Oslo Axess Listing Rules, cf. Section 2.4.2, and must publish an approved prospectus. Listing is also conditional on the company carrying out its planned share issue before the first day of listing to raise additional capital of least CAD 10 million. The Board also stipulated that, prior to the first day of listing, the company's shares must be registered with a central securities depository as required by Section 9.2, second paragraph, item 2 of the Oslo Axess Listing Rules, cf. Section 2.4.7, and the company must have produced a legal opinion from an independent external attorney as required by Section 9.2, second paragraph, item 6 of the Oslo Axess Listing Rules, cf. Section 9.1, second paragraph, items 4 and 5.

The Board authorised the Chief Executive Officer of Oslo Børs to fix the date of the first day of listing, which is to be no later than 30 July 2010.

About Gastem Inc.
Gastem is a Quebec-based oil and gas exploration and development company, holding exploration rights to more than 1.1 M acres of land in the St. Lawrence Lowlands, the Gaspe Peninsula in Quebec and the Magdalen Islands as well as exploration rights to approximately 33,675 acres of leases in New York State.

Gastem’s objective is to create shareholder value through the development of a portfolio of high impact projects. Currently, the Company’s primary focus is on the Utica Shale in Quebec and in New York, which is one of the most promising unconventional gas discoveries in North America. The Company also plans to explore the gas potential of the Magdalen Islands situated in the Magdalen Basin in the Golf of St. Lawrence, in Québec

Press contacts

 

Per Eikrem
Senior Vice President
Corporate Communications

pe@oslobors.no

Phone: +47 22341740
Mobile: +47 93060000

     
 

Guro Steine
Communications Manager

gst@oslobors.no

Phone: +47 22341915
Mobile: +47 41288382

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