Aker Solutions ASA Shares Trade for Last Day
Inclusive of Rights to Consideration Shares in Aker Solutions Holding ASA (to be renamed Aker Solutions)
Shares in Aker Solutions ASA will trade on Friday for the last time inclusive of rights to consideration shares in Aker Solutions Holding ASA (the new Aker Solutions) to be distributed in conjunction with the demerger of the existing Aker Solutions.
Aker Solutions Holding ASA, which was created to facilitate the demerger of Aker Solutions into two independent companies, will be renamed Aker Solutions ASA on completion of the split. The existing Aker Solutions will be renamed Akastor ASA, an oil-services investment company created by the separation.
From and including September 26, 2014, the existing Aker Solutions will change its ticker to AKA. From and including September 29, 2014, shares in the existing Aker Solutions will trade under the Akastor name and the AKA ticker, exclusive of rights to shares in the new Aker Solutions. As of the same date, shares in the new Aker Solutions will be admitted for trading on the Oslo Stock Exchange under the Aker Solutions name and with the AKSO ticker.
Consideration shares in the new Aker Solutions will be distributed on a pro rata basis to shareholders of the existing Aker Solutions on expiry of the September 26, 2014, cut-off date as they appear in the Aker Solutions shareholders register at the Norwegian Central Securities Depositary (VPS) as of expiry of October 1, 2014 (record date). Eligible shareholders will receive one consideration share in the new Aker Solutions for each share they own in the existing Aker Solutions as of expiry of the cut-off date, as recorded in the VPS as of expiry of the record date. The consideration shares in the new Aker Solutions will be delivered and made available to eligible shareholders on October 2, 2014.