Edition:
United Kingdom

Navamedic: NAVA And OM ASA Sign Joint Demerger Plan


Wednesday, 19 Jun 2019 

June 19 (Reuters) - Navamedic ASA ::PROPOSED DEMERGER OF NAVAMEDIC ASA WITH TRANSFER TO OBSERVE MEDICAL ASA.BOARD OF DIRECTORS OF NAVA AND OM ASA TODAY ANNOUNCE THAT THEY HAVE SIGNED A JOINT DEMERGER PLAN.UPON COMPLETION OF DEMERGER, OBSERVE MEDICAL INTERNATIONAL AB WILL BE A WHOLLY OWNED SUBSIDIARY OF OM ASA AND OM ASA WILL INDIRECTLY BE OWNER OF OBSERVE MEDICAL INTERNATIONAL AB'S DIRECT AND INDIRECT SUBSIDIARIES.BOARDS OF NAVA AND OM ASA HAVE RESOLVED UPON AN EXCHANGE RATIO OF 74%/26%, WITH 74% OF BUSINESS TO REMAIN IN NAVA AND 26% OF BUSINESS BEING TRANSFERRED TO OM ASA.BOARD OF DIRECTORS OF NAVA AND OM ASA RESOLVED TO PROPOSE TO THEIR RESPECTIVE GENERAL MEETINGS THAT SHAREHOLDERS SHALL APPROVE DEMERGER OF NAVA.CURRENT BOARD OF DIRECTORS AND MANAGEMENT OF NAVA WILL NOT BE AFFECTED BY DEMERGER.DEMERGER WILL NOT HAVE ANY IMPLICATIONS FOR EMPLOYEES OF NAVA GROUP. 

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