The Board of directors' proposals to Orkla's AGM
The Ordinary Annual General Meeting of Orkla ASA will be held at Gamle Logen, Oslo, Thursday 19 April 2007 at 3.00 p.m.
The Board of Directors has proposed the following resolutions to Orkla's General Meeting: 1) The Board of Directors proposes a ordinary share dividend for 2006 of NOK 10.00 per share, up from NOK 7.50 in 2005. The shares will be quoted exclusive of the dividend on 20 April 2007. Subject to the decision of the General Meeting regarding the share dividend, the dividend will be paid on 3 May 2007 to shareholders of record as of the date of the Ordinary General Meeting (before share split).
2) The Board of Directors thereafter proposes to the General Meeting that the par value of the Orkla-share is changed from NOK 6.25 to NOK 1.25 by a 5:1 split. Total number of shares will increase from 208 286 194 to 1 041 430 970.
3) The Board of Directors proposes to the General Meeting of Orkla ASA to reduce share capital by NOK 6 250 000 from NOK 1 301 788 712.50 to NOK 1 295 538 712.50 by redeeming (amortising) 5.000.000 shares owned by Orkla ASA. The number of shares in the company will be reduced from 1 041 430 970 to 1 036 430 970. The amount by which the share capital is reduced will be used to cancel the company's own shares. 4) The Board of Directors proposes to the General Meeting of Orkla ASA to give the Board of Directors authorisation to increase share capital through the subscription of new shares with an aggregate nominal value of up to NOK 90 000 000, divided between maximum of 72 000 000 shares, each with a nominal value of NOK 1.25. The authorisation may be used for one of more share issues.
The number of shares refer to in head 3 and 4 assume that the proposal from the Board of Directors to split the share into 5 is adopted.
Contacts Orkla Investor Relations: Rune Helland - Tel: +472254 4411 Siv M. Skorpen Brekke - Tel.: +472254 4455