The Board of Directors in Tomra Systems ASA has
today decided to enter into a five year,
bilateral, revolving bank loan agreement for the
amount of NOK 500 million. The loan will be used
to finance buyback of shares in TOMRA.
According to a decision made by the Annual
General Meeting in May this year, the Board of
Directors is currently authorized to buy back 10
million shares in TOMRA. So far 2,338,100 shares
have been bought back. Consequently there will be
an extraordinary general meeting in fourth
quarter this year where the Board will ask for a
new authorization to buy back 10 million
additional shares.
The Board of Directors` decision is made in order
to adjust the company`s capital structure. After
the loan agreement TOMRA will still have a very
solid balance sheet that provides required
flexibility. To further ensure financial
flexibility, the Board of Directors will ask that
shares bought back under the new authorization
can be used in connection with financing of
potential future acquisitions. Treasury shares
not used for this purpose will thus be deleted at
a later point in time.
Potential questions can be directed to CEO Amund
Skarholt at +47 97559425.
Asker, 14 September 2006
Tomra Systems ASA