Glamox completes acquisition of remaining shares in ES-System

OSLO: GLX Holding Glamox has completed the acquisition of all remaining shares in ES-SYSTEM following a compulsory buy out procedure under the terms set forth in Article 82 of the Polish Act of July 29, 2005 on public offering and the conditions governing the introduction of financial instruments to organized trading and on public companies, as amended, and in the relevant ordinance governing compulsory buy out procedure.

Glamox intends to promote the withdrawal of ES-SYSTEM’s shares from trading on the Warsaw Stock Exchange.

In connection with the acquisition of ES-SYSTEM, Glamox has signed an agreement with Danske Bank and DNB to increase its revolving credit facility (RCF) from NOK 1,000 million to NOK 1,400 million.

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