Ementor AB

New structure for share issue - underwritten rights issue of MNOK 225

Pressmeddelande   •   Okt 21, 2004 14:15 CEST

Ementor’s board of directors decided on 20 October 2004 to replace its proposal for a two-step share issue with a proposal for an underwritten Rights Issue of MNOK 225 with a subscription price of NOK 1.5 per share. Shareholders as of the close of business on 4 November 2004 will receive subscription rights, which will be listed on Oslo Børs during the subscription period.
Yesterday’s strong share price decline has challenged Ementor’s aim to ensure equal treatment of all shareholders. Ementor’s board of directors and advisors have consequently concluded that, in the current situation, an ordinary rights issue will better secure this objective. The board of directors is of the opinion that new equity of MNOK 225 will adequately support the current business plan.

The Company’s largest shareholder, Kistefos AS, has committed to underwrite MNOK 175. A group of other shareholders has committed to underwrite a further MNOK 50. The underwriters will receive a commission of 2%, but will receive no additional preference in the allocation of shares as a consequence of the underwriting.

The Rights Issue is subject to the approval of Ementor's shareholders. The board of directors will today call for a new extraordinary general meeting to take place on 4 November 2004. The subscription period will start as soon as practicably possible after the Rights Issue has been approved by the general meeting.

For further information please contact:
Ole Mjåtvedt, Executive Vice President & CFO, Ementor ASA, tel +47 24 09 92 28, mob +47 930 06 671

Ementor is one of the largest business consulting and IT solutions & services companies in the Nordic region. With expertise within consulting, technology and outsourcing, we help the most demanding of Nordic companies to improve their operational efficiency, create customer loyalty and build platforms for change. Ementor has 2 300 employees and is located in 21 cities across Norway, Denmark, Sweden, and Finland. The company is listed on the Oslo Stock Exchange. To find out more about what Ementor can offer, please visit www.ementor.com.