Put Option Notice received from the minority shareholders of Eltek
Valere>
Put Option Notice received from the minority shareholders of Eltek Valere
(Thomson Reuters ONE) - Minority shareholders of Eltek Valere have in a facsimile to EltekASA delivered a Put Option Notice for the sale to Eltek ASA, oncertain conditions, of their shares (i.e. up to 9.1% in Eltek ValereAS and 9.9% in its subsidiary Eltek Energy Holding Inc.). The PutOption Notice has been delivered under the Stockholders Agreement forEltek Valere. The sale shall be made at fair market value, referredto as Company Equity Value. The parties will now commencenegotiations to determine the Company Equity Value. If suchnegotiations fail to produce agreement on the Company Equity Value,the Company Equity Value will be determined by external valuationfirms, which will determine what is referred to as the Final EquityValue. The minority shareholders of Eltek Valere will then beprovided with a notice of the Final Equity Value, following which theminority shareholders must provide a written notice to Eltek ASA onthe sale of shares. Eltek ASA has a right to issue in lieu of cash apromissory note at the put closing. The process regarding the putoption may last up to approximately four months.For further information, please contact:Jan T. Jørgensen, CEOPhone: +47 918 37 759Pål Skistad, CFOPhone: +47 908 50 378This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
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">Datum: 02.07.2009 - 06:56 Uhr
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