Aker Solutions ASA: minutes from extraordinary general meeting

The general meeting approved the proposed distribution of dividend in the form of 271,942,753 shares in Aker Offshore Wind Holding AS and 271,942,753 shares in Aker Carbon Capture AS (jointly, the “Dividend Shares”). Minutes of the meeting are attached and available on https://akersolutions.com/egm-140820

The dividend will be distributed to those who are shareholders in Aker Solutions as per the expiry of August 14, 2020, as registered with the Company’s shareholder register with the VPS as per the expiry of August 18, 2020 (the “Eligible Shareholders”), and the Aker Solutions share will be traded ex-dividend on Oslo Stock Exchange from and including August 17, 2020. The dividend in the form of the Dividend Shares is expected to be distributed on or about August 26, 2020. At the same time the Dividend Shares are expected to be admitted to trading on Merkur Market.

The distribution implies that one share in Aker Solutions entitles the owner to receive one share in each of Aker Offshore Wind Holding AS and Aker Carbon Capture AS. However, for Eligible Shareholders subject to withholding tax (the “WHT Shareholders”), 25 percent of the Dividend Shares distributable to each of such shareholders will be withheld (the “Withheld Dividend Shares”), whereas the remaining 75 percent will be distributed on or about August 26, 2020. Fractions of Dividend Shares will not be distributed, and for each WHT Shareholder the Withheld Dividend Shares will be rounded up to the nearest whole number.

The Company will arrange for Withheld Dividend Shares to be sold for payment of the relevant withholding tax. The withholding tax will be calculated based on the subscription price in each of Aker Carbon Capture AS and Aker Offshore Wind Holding AS in the private placements that was announced by Aker Solutions in stock exchange notices published on August 12 and 14, 2020.

Should Aker Solutions, in respect of a WHT Shareholder, sell a larger portion of the Withheld Dividend Shares than is necessary to cover the relevant withholding tax applicable to such WHT Shareholder, the excess net cash received from sale of such shares – based on the price for calculating the withholding tax as set out above – will be distributed to such WHT Shareholder in the form of a cash payment on or about October 1, 2020.

About Aker Solutions
Aker Solutions helps the world meet its energy needs. We engineer the products, systems and services required to unlock energy. Our goal is to maximize recovery and efficiency of oil and gas assets, while using our expertise to develop the sustainable solutions of the future. Aker Solutions employs approximately 13,000 people in more than 20 countries.