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Valco Group prepares for further growth |
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Friday, 12 February 2010 17:00 |
Equity of Valco Group increased by MNOK 424 (MEUR 52)
Valco Group was established in January 2009. Currently the Group includes 3 operational companies in Norway and 3 operational companies in France, including well known brands as Malbranque, SNRI and Westad. (See www.valcogroup.no for more information).
To complete the process of establishing Valco Group as a strong, independent Group, the owners have at
Extraordinary General meeting on 21st December 2009 increased the share capital of Valco Group AS by NOK 100.8 million to NOK 100.9 million at a subscription price where also NOK 324.4 million was added to the Company's share premium fund. Total equity of Valco Group at the end of 2009 was NOK 435 million.
“Strengthening of the Group’s capital base has been planned for a long time, and we are pleased that this is now formalized. A required step for our current business volume and our planned growth”, says Kjell Ove Hatlem, CFO of Valco Group.
The mentioned capital increase was registered in the Norwegian company register on 29th December 2009. A certificate from the register, dated 05.01.2010 is attached.
For further information, contact
Mr. Oddbjørn Kopperstad, CEO of Valco Group, +47 90 55 1477 or
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Mr. Kjell Ove Hatlem, CFO, phone +47 48 13 1065 or
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