Merger between Akva group and Idema and Maritech

The merger plan governs that assets, rights and obligations, in its entirety, are transferred from Idema and Maritech to Akva, without consideration, at completion of the mergers, according to the regulations of § 13-24 of the Public Limited Liability Companies Act, regarding merger between a parent company and a wholly-owned subsidiary. The merger plan with appendices is enclosed to this notice. The merger plan with appendices will be submitted to the shareholders of Akva when the merger plan has been made known to the employees according to the regulations of § 13-11 of the Public Limited Liability Companies Act and will simultaneously be reported to the Register of Business Enterprises. It is anticipated that the merger plan will be submitted to the shareholders of Akva and reported to the Register of Business Enterprises on the 29.06.09.  The Boards of Directors of the companies participating in the mergers are anticipated to pass the final resolutions of the mergers in board meetings to be held on the 26.08.09. The mergers may come in to force after the creditor notice period according to § 13-15 of the Public Limited Liability Companies Act has expired and the relations with any creditors have been settled in accordance with § 13-16 of the Public Limited Liability Companies Act. The mergers are anticipated to be registered as finally completed within the expiry of November 2009. Completion of the mergers will imply that the opportunity for Akva to pay dividend based on the company's annual accounts for the financial year 2009 will be reduced by NOK 5.7 million, compared to the situation without completion of the mergers.