Extends acceptance period for offer to Sapa shareholders

30.03.2005: During the ordinary acceptance period, Orkla's public offer to shareholders in Sapa AB pursuant to the prospectus dated 28 February 2005 has been accepted by shareholders representing 4,779,425 shares, equivalent to approximately 13.1 % of the shares and votes in Sapa.

Orkla's subsidiary, Elkem, owns 31,065,022 Sapa shares, equivalent to 85.1 %. Directly and through its subsidiaries, Orkla therefore owns a total of 35,844,447 Sapa shares, equivalent to 98.1 % of the shares and votes in the company.
 
In order to give shareholders who have not yet accepted the offer an opportunity to do so, Orkla has extended the acceptance period until 5 p.m. on 12 April.
 
It is thereafter Orkla's intention to redeem the outstanding shares from minority shareholders in Sapa and de-list the company.