Aker Solutions to Complete Demerge Plans By Month End

Aker Solutions Holding ASA will complete its demerger plans by the end of the month, after receiving the approval from the Norwegian Financial Supervisory Authority to list the shares of the new company on the Oslo Stock Exchange.

‘Aker Solutions Holding ASA, which was created to facilitate the demerger of Aker Solutions into two independent companies, will be renamed Aker Solutions ASA on completion of the split. The existing Aker Solutions will be renamed Akastor ASA, an oil-services investment company created by the separation,’ reads a note released on Monday. 

The company also published an indicative timetable for consummation of the demerger, expecting the first day of trading in the new Aker Solutions share to be on Monday, 29 September.

‘Trading in the new Aker Solutions shares will begin before delivery of the shares to eligible shareholders' VPS accounts. Trades in the period until delivery of the shares to eligible shareholders' VPS accounts will be settled on a T+3 basis. No account-to-account transactions and no transactions with settlement before  October 2, 2014, will be allowed in this period.’