According to authority given by the general meeting 09.06.05 the board has passed a resolution to increase the share capital in TTS Marine ASA.
According to authority given by the general meeting 09.06.05 the board has passed a resolution to increase the share capital in TTS Marine ASA with NOK 900.000, - through an issue of 1.800.000 shares with a nominal value of NOK 0,50 per share and a subscription price of NOK 31,75. The capital increase is a private cash placement organised by Kaupthing ASA and aimed at a group of investors, some of who are already shareholders in TTS Marine ASA. Approximately half of the share issue is aimed at foreign institutional investors.
As stated in the Directors’ report for 2003 and 2004 TTS will further expand the group’s activities, amongst others by acquisition of companies within the ships equipment and port terminal market segments. In 2004 TTS acquired
TTS-LMG Marine Cranes in Germany and TTS Liftec in Finland. Both companies have developed better than anticipated. The share issue will be used to finance further acquisitions.
The company’s share capital after the share issue will be NOK 10.001.802, -distributed between 20.003.604 shares at NOK 0,50 each. When registered in the Norwegian Registry of Securities, a statement will be sent to the Oslo Stock Exchange immediately.
Bergen 26 August 2005
Contact persons:
Johannes D. Neteland President and CEO TTS Marine ASA
Olav Bruåsdal Director TTS Marine ASA
Tel.: 55 94 74 00 / Fax: 55 94 74 01
