16OG Akbank 5.000% A

RNS No 5658n
PERSTORP AB
25 October 1999


Perstorp Executives to Acquire Call Options from Custos

A group of seven senior executives in the Perstorp Group have received an offer
from AB Custos to purchase a total of 640,000 options on an equivalent number of
Series B Perstorp shares.  Perstorp's Board of Directors has approved the terms
of the offer and view it favourably, since they consider it important to
strengthen the commitment of the Group's senior executives during the
forthcoming streamlining of Perstorp operations.  In the interim report
published on October 20, it was announced that Perstorp's Board of Directors had
decided to streamline Group operations around chemicals.  Accordingly, a new
owner is to be sought for Perstorp Surface Materials and the Group intends to
implement a separate listing of Perstorp Flooring shares within a period of two
years. Custos is the largest individual shareholder in Perstorp, accounting for
16.5% of the share capital and 10.4% of the voting rights for all shares, after
full dilution.

In accordance with the terms of Custo's offer, each option will cost SEK 5.00.
During the period October 29, 1999 through October 29, 2001, the options can be
exercised for the purchase of Series B Perstorp shares at a price computed in
accordance with the customary calculation model and based on the average price
on the Stockholm Stock Exchange for Series B Perstorp shares during the period
October 21-27.  The final terms for the options will be established on the basis
of a market valuation to be undertaken by KPMG Corporate Finance.


END

MSCNFSESAALNFFN

Akbank 5.000% A (LSE:16OG)
Historical Stock Chart
From May 2024 to Jun 2024

Akbank 5.000% A (LSE:16OG)
Historical Stock Chart
From Jun 2023 to Jun 2024