On 26 August 2016, the shareholders meeting of Flakk Investment AS resolved to demerge certain assets to Flakk Composites AS, included in which are 34 282 667 shares in Hexagon Composites ASA. After, and subject to, completion of the demerger, Flakk Composites AS will be incorporated as a wholly owned subsidiary of Flakk Gruppen AS and will hold 34 282 667 shares (20.57%) in Hexagon Composites ASA. Mr. Knut Flakk, who is Chairman of the Board in Hexagon Composites ASA, owns 98.7% of the shares in Flakk Gruppen AS. Flakk Investment AS will not hold any shares in Hexagon Composites ASA directly, but its subsidiary Flakk Invest AS will continue to hold 1,000,000 shares.
The total holding of Knut Flakk and his close associates, including Flakk Composites AS and Flakk Invest AS, remains unchanged at 36 095 717 shares in Hexagon Composites ASA. The demerger is expected to take place at the end of Q4 2016.
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Hexagon Composites ASA via Globenewswire
