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Demerger accomplished - new Yara Board in place

March 24, 2004, 17:00 CET

Today, the demerger of Norsk Hydro ASA has been accomplished and registered in the Register of Business Enterprises according to the demerger plan approved by the extraordinary general meetings of Norsk Hydro ASA and Yara International ASA on 15 January 2004.

The shares in the demerged Yara International ASA will be listed on the Oslo Stock Exchange on 25 March 2004, and the shares received in connection with the demerger will be tradeable from this date. The shares of Norsk Hydro ASA will trade excluding right to demerger shares in Yara International ASA from and including 25 March 2004.

In the extraordinary general meeting in Yara International ASA on 15 January 2004, the general meeting supported the proposal from the election committee of Norsk Hydro ASA for board members of Yara International ASA. As the demerger of Norsk Hydro ASA now has been consummated, the new board members have taken up their positions.

The board of directors of Yara International ASA now consists of the following members:

  • Øivind Lund (proposed Chairperson)
  • Lone Fønss Schrøder
  • Jørgen-Ole Haslestad
  • Åse Aulie Michelet
  • Leiv L. Nergaard
  • Frank Andersen, employee representative
  • Arthur Frank Bakke, employee representative
  • Charlotte Dyrkorn, employee representative