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Mandatory notification of trade REC

Reference is made to the stock exchange notice from Renewable Energy Corporation ASA (REC) today at 9.36 am regarding capital increase.

Orkla ASA has following closing of the stock exchange on 3 July entered into an agreement to subscribe for, and been allotted, 133,333,333 new shares in REC at a subscription price of NOK 1.50. Prior to completion of the capital increase, Orkla holds 396,236,635 shares in REC, representing 39.7% of the shares in the company. Provided that the capital increase is resolved by the general meeting of REC, Orkla will hold 529,569,968 shares in the company, representing approximately 28.4% of the then issued and outstanding shares. Orkla will be further diluted following the subsequent offering to existing shareholders.

Board member in Orkla ASA, Peter A. Ruzicka, is also board member in REC.

Orkla ASA

Oslo, 4 July 2012 

Ref.:

Executive VP, Corporate Communications and Corporate Affairs
Håkon Mageli
Tel.: +47 928 45 828

Senior VP, Investor Relations
Rune Helland
Tel.: +47 22 54 44 11/+47 977 13 250