Orkla to appeal the Oslo Stock Exchange Board's Elkem decision

09.01.2003: Orkla has decided to appeal the resolution adopted by the Board of the Oslo Stock Exchange on 18 December 2002, according to which the shareholdings of Orkla and Nordstjernen in Elkem are treated as a consolidated holding, to the Oslo Stock Exchange Appeals Committee.

In this specific case, the resolution is of little practical significance for Orkla. Because of the principle involved and its implications, Orkla has however decided to appeal the resolution. As far as Orkla understands the resolution of the Board of the Oslo Stock Exchange, the Oslo Stock Exchange is now applying an interpretation of the facts and the law that exceeds previous practice.  Orkla is therefore of the opinion that it will be advantageous for the Oslo Stock Exchange Appeals Committee to take a position on this matter.