|Delisting the Company's shares from listing on Oslo Stock Exchange|
|środa, 07 marca 2012 11:21|
The Board of Fara ASA has, against one vote, decided to submit to the Company's General Meeting 29 March 2012 a proposal for applying to the Oslo Stock Exchange ASA («OSE») for the consent of delisting the Company's shares from listing at OSE. The background for the Board's proposal is that the Company's shares no longer are considered suitable for continued listing, that the listing represents ongoing challenges for a company of Fara's size, and - in general - that the Board's assessment is that a continued listing is not appropriate from a cost- benefit perspective, as the disadvantages and costs of a continued listing are not offset by the benefits of continued listing.
Provided that the proposal is adopted by the Company's General Meeting with the necessary, regulatory majority, an application for delisting will be submitted to OSE as soon as possible. The Company's shareholders and the market will be kept informed of the process, hereunder when a possible application is sent to OSE, as well as of the expected date of the implementation of the delisting of the shares, after OSE has considered such an application, and possibly given its consent.
The Board emphasizes that the Company, even after a possible delisting of the shares, will practice a shareholder policy and a corporate governance policy which facilitates for the continued free trading of the Company's shares, and which - in all respects - protects the Shareholder's interests, including maintaining the interests of the investors holding a minor number of shares.
Fara refers further to the documentation following the notice for the General assembly 29 March 2012.