Orkla has the 27 March 2007 sold 1 194 335 shares in Renewable Energy Corporation ASA (REC) at a share price of NOK 140.33.
After this transaction Orkla holds 196 425 000 shares in REC, which represents 39.75 % of the shares.
The reason for the sale is that Orkla wishes to have a certain margin to the 40 % limit that triggers a mandatory offer.
The reason for this notification is that Ole Enger and Roar Engeland (both Executive Vice President in Orkla) are members of the Board in REC.
Rune Helland, Orkla Investor Relations - Tel: +47 2254 4411
Siv M. Skorpen Brekke, Orkla Investor Relations - Tel: +47 2254 4455