TTS refers to statement to Oslo Stock Exchange 16.08.2006 regarding acquisition of Umoe Schat-Harding.
After the agreement was announced, there has been a lot of activity in the TTS share. TTS has received several inquiries whether the development has altered the premises for the agreement with UMOE.
The TTS board is still of the opinion that the acquisition of Umoe Schat-Harding is an industrial good solution, and adds value to the TTS Group. As a part of the agreement 4 million shares will be issued to Umoe Schat-Harding. Thus Umoe Schat-Harding will become a considerable shareholder in TTS.
- I am convinced that the execution of the agreement will be to the best for the company and its shareholders, and we will continue to work to complete the transaction, says Chairman of TTS Board, Nils O. Aardal.
Bergen 18.08.2006
Contact person:
Johannes D. Neteland President and CEO TTS Marine ASA
Tel.: +47 55 94 74 00 / Fax: +47 55 94 74 01
