Demerger Flakk Composites AS

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On 15.05.2019, the board of directors of Flakk Composites AS resolved to propose to its shareholders meeting that Flakk Composites AS shall demerger certain assets to two entities to be incorporated as part of the demerger, included in which are 25 000 000 shares in Hexagon Composites ASA. Flakk Composites AS is wholly owned by Flakk Gruppen AS, a company owned 98.7% by Knut Flakk, chairman of the board of Hexagon Composites ASA. Flakk Composites AS will change its name to Flakk Rollon AS as part of the demerger.After, and subject to, completion of the demerger Flakk Rollon AS will hold 4 340 504 shares (2,37%) of the total number of shares in Hexagon Composites ASA, whilst Flakk Composites AS (acquiring entity 1, to be established) and KF Finans AS (acquiring entity 2, to be established), which will be incorporated as wholly owned subsidiaries of Flakk Gruppen AS, will hold 20 000 000 shares (10,91%) and 5 000 000 shares (2,73%), respectively, of the total number of shares in Hexagon Composites ASA.The total holding of Knut Flakk and his close associates, including Flakk Rollon AS, Flakk Composites AS and KF Finans AS, remains unchanged in Hexagon Composites ASA. The demerger is expected to take place at the start of Q3 2019. For more information: Flakk Gruppen AS, by Knut Flakk Telephone: +4799746000 |

 

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Globe Newswire: 18:19 GMT Wednesday 15th May 2019

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