Aker Philadelphia Shipyard Accepts Shares Tendered

By Joseph R. Fonseca
Monday, August 11, 2014
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Reference is made to the open market partial tender offer for up to 650,000 shares of Aker Philadelphia Shipyard ASA announced on 7 August 2014.
 
Pursuant to the offer, only a limited number of shares were tendered to the company. AKPS has accepted all shares tendered in accordance with the principles of the previously announced buyback program, which amounted to 166,457 shares. The total consideration was NOK 26,633,120 with a purchase price of NOK 160 per share.
 
Following the transaction, AKPS holds a total of 185,203 own shares, constituting approximately 1.47% of the Company's shares and votes.
 
The Company will continue its buy-back program in accordance with its authorization to purchase up to 10% of the Company's share capital. Pareto Securities is engaged by the Company to carry out the buyback program.
 

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