Reference is made to the prospectus and stock listing
of Treasure ASA in June 2016, where renegotiation of
the shareholder agreement between Treasure ASA and
Hyundai Group regarding the shareholding in Hyundai
Glovis was pending.
The parties have reached an agreement including the
following major changes:
- The formal counterpart has been changed from Wilh.
Wilhelmsen ASA to Treasure ASA.
- Treasure ASA is entitled to reduce its ownership to
7% without any prior written consent.
- Board representation follows as is. The shareholder
agreement will be terminated if the ownership falls
below 7%.
«Our shareholding in Hyundai Glovis continues to be a
strategic investment for Treasure ASA and our purpose
is to generate significant shareholder return based on
the investment,» says Magnus Sande, CEO.