Orkla ASA — Share Issue/Capital Change 2014

Sep 29, 2014

Orkla ASA : Orkla annonserer børsnotering av Gränges. Aksjene forventes å bli notert på NASDAQ OMX Stockholm den 10. oktober

Orkla ASA : Orkla annonserer børsnotering av Gränges. Aksjene forventes å bli notert på NASDAQ OMX Stockholm den 10. oktober

IKKE FOR DISTRIBUSJON ELLER OFFENTLIGGJØRING, DIREKTE ELLER INDIREKTE, I USA,

CANADA, JAPAN ELLER AUSTRALIA.

Det vises til børsmelding fra Orkla den 10. september 2014 vedrørende

intensjonen om å børsnotere Gränges AB (publ) ("Gränges") på NASDAQ OMX

Stockholm, herunder Orklas planlagte salg av aksjer i Gränges gjennom et

offentlig tilbud ("Tilbudet"). Orkla har nå besluttet å lansere Tilbudet. Under

forutsetning av at Tilbudet gjennomføres som planlagt, forventes det at aksjene

i Gränges vil bli tatt opp til notering på NASDAQ OMX Stockholm den 10. oktober

Peter A. Ruzicka, konsernsjef i Orkla sier:

"I tråd med Orklas langsiktige strategi om å være et rendyrket merkevareselskap,

har vi besluttet å invitere andre investorer til å ta del i Gränges' videre

utvikling. Vi tror at en børsnotering av Gränges vil gi selskapet økt strategisk

og operasjonell fleksibilitet. En bredere eierbase kommer til å gi Gränges

tilgang til svenske og internasjonale kapitalmarkeder, og dermed bidra til

selskapets videre vekst og utvikling."

Kort om tilbudet

* Orkla Industriinvesteringar AB, et heleid datterselskap av Orkla ASA, er

selger av aksjene.

* Tilbudet rettes mot allmennheten i Sverige og Norge samt mot institusjonelle

investorer.

* Tilbudet omfatter 44,8 millioner aksjer i Gränges, tilsvarende 60 prosent av

totalt antall aksjer i selskapet.

* Orkla har forbeholdt seg retten til å utvide Tilbudet ved å selge opp til

ytterligere 9,0 millioner aksjer, tilsvarende 12 prosent av totalt antall

aksjer i selskapet. I tillegg har Orkla tildelt dets finansielle rådgivere

en opsjon til å selge inntil 8,1 millioner aksjer, tilsvarende opp til 15

prosent av totalt antall aksjer i Tilbudet (ca 11 prosent av totalt antall

aksjer i selskapet).

* Dersom Orkla velger å utvide Tilbudet fullt ut samt at opsjonen gitt de

finansielle rådgiverne blir benyttet i sin helhet, vil Tilbudet omfatte

totalt 61,8 millioner aksjer, tilsvarende ca 83 prosent av totalt antall

aksjer i selskapet.

* Det forventes at endelig pris for aksjene vil ligge i intervallet SEK 42-50

per aksje ("Tilbudsprisen"), tilsvarende en markedsverdi for alle aksjer

utstedt av Gränges på omtrent SEK 3,1 - 3,7 milliarder. Tilbudsprisen

forventes å bli annonsert 10. oktober 2014.

* Prospekt med fullstendige vilkår er offentliggjort i dag 29. september 2014

på Orklas nettsider www.orkla.no og Gränges' nettsider www.granges.com.

For ytterligere informasjon om Tilbudet, vennligst se vedlagt pressemelding fra

Gränges.

Indikativ fremdriftsplan

30. september - 8. oktober 2014             Tegningsperiode for allmennheten i

Sverige og Norge

30. september - 9. oktober 2014             Bookbuilding-periode for

institusjonelle investorer

10. oktober 2014                                            Offentliggjøring av

endelig tilbudspris

10. oktober 2014                                            Første handelsdag

for aksjene på NASDAQ OMX Stockholm

14. oktober 2014                                            Oppgjør

Det gjøres oppmerksom på at norske og svenske aksjonærer i Orkla som er

registrert i aksjeeierboken per 25. september 2014, og som tegner seg for aksjer

i Tilbudet rettet mot allmennheten, kan gis prioritering i tildelingsprosessen.

Allmennheten i Norge kan kun tegne seg for aksjer i Tilbudet gjennom Nordnet

(www.nordnet.no). For ytterligere informasjon om prosedyren for tegning av

aksjer, henvises det til prospektet og tegningsskjemaer.

Carnegie og SEB er Joint Global Coordinators og Joint Bookrunners i forbindelse

med Tilbudet. Danske Bank og Handelsbanken Capital Markets er også Joint

Bookrunners.

Orkla ASA,

Oslo, 29. september 2014

For ytterligere informasjon, vennligst kontakt:

Rune Helland, SVP Investor Relations

Tel: +47 97 71 32 50

About Gränges

Gränges is a leading global supplier of rolled products for brazed aluminium

heat exchangers used primarily in automotive applications. The Company develops,

produces and markets materials that enhance both the production economy during

the customer manufacturing process as well as the performance of the final

products, the brazed heat exchangers. Gränges' vision is to help create smaller,

lighter and more designable heat exchangers to increase economic efficiency and

reduce environmental impact. Gränges operates through three geographical

regions: Europe, Asia and Americas with production, research and development in

Finspång, Sweden, and Shanghai, China. Through sales and technical support

offices in the U.S., India, Japan, South Korea and an agent in Brazil, the

Company serves customers worldwide. Gränges has a global leading position in its

market niche with an estimated total market share of approximately 20 per cent.

A short summary of Gränges' financial performance is provided below.

---------------------------------------+---------+---------+-------+-------

| H1 2014 | H1 2013 | 2013 | 2012

---------------------------------------+---------+---------+-------+-------

Net sales (SEKm) | 2,333 | 2,473 | 4,642 | 4,946

---------------------------------------+---------+---------+-------+-------

Sales volume (ktonnes) | 83.1 | 81.8 | 158.6 | 151.7

---------------------------------------+---------+---------+-------+-------

Adjusted operating profit 1. (SEKm) | 254 | 189 | 371 | 362

---------------------------------------+---------+---------+-------+-------

Adjusted operating profit margin (%) | 10.9% | 7.6% | 8.0% | 7.3%

---------------------------------------+---------+---------+-------+-------

NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO

THE UNITED STATES, CANADA, JAPAN OR AUSTRALIA

DISCLAIMERS

This announcement is not an offer to buy any securities issued by Gränges AB

(publ) (the "Company") in any jurisdiction where such offer or sale would be

unlawful.

In any EEA Member State, other than Sweden and Norway, that has implemented

Directive2003/71/EC as amended (together with any applicable implementing

measures in any member State, the "Prospectus Directive"), this communication is

only addressed to and is only directed at qualified investors in that Member

State within the meaning of the Prospectus Directive.

This document and the information contained herein are not for distribution in

or into the United States of America. This document does not constitute an offer

to sell, or a solicitation of an offer to purchase, any securities in the United

States. Any securities referred to herein have not been and will not be

registered under the U.S. Securities Act of 1933, as amended (the "Securities

Act"), and may not be offered or sold within the United States absent

registration or an applicable exemption from, or in a transaction not subject

to, the registration requirements of the Securities Act. There is no intention

to register any securities referred to herein in the United States or to make a

public offering of the securities in the United States.

In the United Kingdom, this document and any other materials in relation to the

securities described herein is only being distributed to, and is only directed

at, and any investment or investment activity to which this document relates is

available only to, and will be engaged in only with, "qualified investors" (as

defined in section 86(7) of the Financial Services and Markets Act 2000) and who

are (i) persons having professional experience in matters relating to

investments who fall within the definition of "investment professionals" in

Article 19(5) of the Financial Services and Markets Act 2000 (Financial

Promotion) Order 2005 (the "Order"); or (ii) high net worth entities falling

within Article 49(2)(a) to (d) of the Order (all such persons together being

referred to as "relevant persons"). Persons who are not relevant persons should

not take any action on the basis of this document and should not act or rely on

it.

Any offering of securities will be made by means of a prospectus that may be

obtained from the issuer or selling security holder and that will contain

detailed information about the Company and management, as well as financial

statements. This document is an advertisement and not a prospectus for the

purposes of the Prospectus Directive.  Investors should not subscribe for any

securities referred to in this document except on the basis of information

contained in the prospectus.

Matters discussed in this release may constitute forward-looking statements.

Forward-looking statements are statements that are not historical facts and may

be identified by words such as "believe," "expect," "anticipate," "intends,"

"estimate," "will," "may," "continue," "should" and similar expressions.  The

forward-looking statements in this release are based upon various assumptions,

many of which are based, in turn, upon further assumptions.  Although the

Company believes that these assumptions were reasonable when made, these

assumptions are inherently subject to significant known and unknown risks,

uncertainties, contingencies and other important factors which are difficult or

impossible to predict and are beyond its control.  Such risks, uncertainties,

contingencies and other important factors could cause actual events to differ

materially from the expectations expressed or implied in this release by such

forward-looking statements.

The information, opinions and forward-looking statements contained in this

release speak only as at its date, and are subject to change without notice.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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1. Operating profit adjusted for other income and expenses.

Denne opplysningen er informasjonspliktig etter verdipapirhandelloven §5-12

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