DOCSLIB.ORG

Corporate Responsibility Report 2015 2 Corporate Responsibility at Aker Asa 2015

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Corporate Responsibility Report 2015 2 Corporate Responsibility at Aker Asa 2015 CORPORATE RESPONSIBILITY REPORT 2015 2 CORPORATE RESPONSIBILITY AT AKER ASA 2015 CONTENT 1. CORPORATE RESPONSIBILITY AT AKER 3 Our responsibility as an owner 5 2. SOCIETY 6 Creating value for society Focus on: Retaining core skills 7 Knowledge without borders 8 3. PEOPLE 9 People create Aker Focus on: From EWC to GWC 11 4. ENVIRONMENT 12 Aker takes responsibility for the environment Focus on: Reducing climate emissions 14 Sustainable fishing 15 5. INTEGRITY 16 Zero tolerance for corruption Focus on: Increasing awareness and care 17 6. Transparency and openness 18 7. Aker’s ambitions and expectations going forward 19 CORPORATE RESPONSIBILITY AT AKER ASA 2015 3 CORPORATE RESPONSIBILITY Aker ASA (Aker) exercises active ownership with a view to creating value. Aker’s most important contribution to society is to create value by continuing to develop forward-looking companies that supply products and services in a socially responsible, ethical and sustainable manner. Aker is, directly or indirectly, the ma- about skilled blue and white-collar wor- history during the past 25 years. Their jority stakeholder in eight companies kers and engineers working together report illustrates the key role Aker has listed on the Oslo Stock Exchange. Alt- and engaging with authorities, schools played for Norwegian industrial de- hough the majority of the directors on and universities, local communities and velopment, in particular in oil and gas the boards of each of the listed compa- partners. Since its inception, Aker has and the fishing sector. Aker’s DNA is nies have no ties to Aker, Aker exerts been a pioneer in seeking expertise described as consisting of three main great influence on the companies’ stra- across national boundaries, businesses traits: adaptability, knowledge, and the tegy and priorities by virtue of being and professions. cooperation between the company’s the owner. management/owners, its employee re- In the first half of 2015 five masters’ presentatives and society at large. In 2016 Aker will celebrate its 175th an- students (studying organisational ma- niversary. Knowledge that knows no nagement and administration) from the boundaries runs through the compa- University of Oslo conducted a study ny’s history like a red thread. Aker is on the events that have shaped Aker’s 4 CORPORATE RESPONSIBILITY AT AKER ASA 2015 GUIDELINES AND PRINCIPLES relevant themes and specific challen- es, the CR Forum. This is a forum where Aker’s corporate culture is based on ges will vary from company to compa- participants can discuss relevant issues good business practices, openness, ho- ny, depending on its sector: oil and gas, and exchange insight and experiences nesty and respect for other people. The- maritime activities, seafood and marine to promote learning and improve the se principles form the basis for sound biotechnology. companies’ work. The network is cur- equity investments in Aker’s portfolio rently made up of about 20 individuals. companies. As an industrial investment OBJECTIVES AND HOW THEY ARE company Aker has governing docu- PURSUED AKER’S FOUR PRIORITY AREAS ments for sound corporate governance, Aker primarily exercises its ownership Over the past ten years Aker has defi- risk management and internal control, in the companies’ boardrooms. Aker’s ned four priority areas as being most ethical guidelines, communication and Board of Directors and the portfolio important to the company’s CR efforts: principles for corporate responsibility. companies’ Boards set the expectations people, the environment, integrity and The governing documents have been for and define CR objectives, and moni- society. These priorities are based on the adopted by the company’s Board of Di- tor the pursuance of responsible, sustai- United Nations’ Global Compact. rectors to secure and develop Aker’s role nable and ethical business activities. as a responsible owner. Regulatory compliance is a minimum re- The company’s primary stakeholders are quirement, and a line and management its shareholders and bond holders, inves- Aker’s guidelines are based on its Code responsibility in both Aker and the port- tors, analysts, Aker and portfolio compa- of Conduct. The document sets out et- folio companies. Each company’s Board ny employees, and the authorities. The hical guidelines for employees and part- of Directors is responsible for regularly CR report focuses on Aker’s role as an ners, and principles relating to workers’ assessing and evaluating results, as well owner, emphasising values, expectations rights, human rights, anti-corruption, so- as the social consequences and impact and priorities and the results that have cial conditions and the environment. In on society at large of its operations. been achieved. 2015, the company updated these prin- ciples so that they stipulate more clearly Aker’s investment team is responsible Due to staff reductions in the portfolio Aker’s expectations of the Codes of Con- for the continuous follow-up of the port- companies working in the oil sector, the ducts of its portfolio companies. folio companies. The legal department most challenging and important area in supports this work and handles comp- 2015 has been Society, an area closely Aker’s CR principles are outlined in the liance issues, in collaboration with the linked to Aker’s priority area People. In Compass. This is a governance tool for finance and accounting department’s the area Environment Aker seeks to en- how Aker exercises ownership and navi- Controller and risk management functi- courage its portfolio companies to work gates challenging waters. The Compass on. Compliance is the day-to-day work for greater resource efficiency and lower sets out Aker’s ambitions and governs to ensure that the company’s actions are climate emissions. In terms of Integrity, the company’s expectations of its staff in line with its internal guidelines and Aker has introduced an anti-corruption and of that of its portfolio companies. In principles, and regulatory obligations. policy for its own employees and those its capacity as owner Aker will lead by Risk management is about predicting of its portfolio companies. example through its values, actions and and analysing the risks the company fa- the exercise of its ownership. ces, and how to avoid or handle undesi- Aker’s 2015 CR report addresses each red incidents. of these areas. The industrial portfolio Each industrial portfolio company’s Bo- companies in which Aker has ownership ard of Directors adopts its own gover- Aker has set up a network consisting of interests all publish their own CR reports. ning documents adapted to the specific key personnel working with corporate business of the company. Stakeholders, responsibility in its portfolio compani- CORPORATE RESPONSIBILITY AT AKER ASA 2015 5 Our responsibility as an owner The CR report has been prepared in To date, Aker has not specified environ- accordance with section 3-3c of the mental goals for the areas in which the Accounting Act, which requires lar- company has operations. Fish and krill ge undertakings to report annually on are renewable resources. In response to their CR work. The report provides an an Aker initiative, the fishing compani- account of Aker’s role as shareholder es Havfisk, which catches whitefish in in operational companies, and includes the Barents Sea and Aker BioMarine, a guidelines, describes how Aker works harvester of krill in the Antarctic Sea, with CR and what CR results have been have for years worked together with achieved, as well as Aker’s CR ambiti- WWF Norway on sustainably harve- ons, expectations and priorities going sting maritime resources. In the oil and forward. gas industry Aker is a driving force for the development of knowledge-based Aker is an investment company with in- products and technologies as a way dustrial investments focused principal- of tackling environmental and climate ly on the oil and gas sector, maritime problems. Aker believes that the UN’s 17 assets and seafood/marine biotechn- sustainability goals are key to safeguar- ology. These businesses build on Nor- ding the needs of people living today way’s natural resources, in particular without destroying future generations’ those of the sea and below the seabed. opportunity to meet their needs Aker adopts a careful approach, which takes into account questions of vulnera- bility and risks. 6 CORPORATE RESPONSIBILITY AT AKER ASA 2015 PRIORITY AREAS | Society HOW AKER RELATES TO SOCIETY THROUGH ITS ACTIVITIES: SOCIETY As an industrial investment company, Aker’s goal is to achieve long-term value creation through responsible, forward-looking and profitable work places in its portfolio companies. Creating value for society Aker invests capital and knowledge in forward-looking companies that will, by exercising corporate responsibility in their operations, deliver satisfactory financial results in the long term. The company promotes value creation of Aker’s and its portfolio companies’ the Seafood Industry Committee’s (the for its shareholders, staff, customers and good and collaborative relations with Tveterås Committee’s) report. This was the society of which Aker and its portfo- the employee organisations. a joint statement from Aker’s CEO and lio companies form a part. By exercising the group union representative and the active ownership Aker takes responsibi- Group union representative Atle Tranøy CEOs of both Havfisk and Norway Se- lity for how these values are created. at Aker comments on the process as afoods stressing that fishing activities follows: must be sustainable – both in economic, Taken together, Aker’s portfolio compa- societal and environmental terms. nies are Norway’s largest private indus- “In these processes, the trade union re- trial employer, primarily within the oil presentatives and portfolio company On 13 November 2015 the Norwegian industry and whitefish industry. These management usually seek to reach a government presented the White Paper are cyclical industries that are subject to common understanding of the situation. “A competitive seafood industry,” con- fluctuations in prices and activity levels.
Load more

Recommended publications
  • Corporate Responsibility Report 2016 2 Corporate Responsibility in Aker Asa 2016
    CORPORATE RESPONSIBILITY REPORT 2016 2 CORPORATE RESPONSIBILITY IN AKER ASA 2016 CONTENT 1. ACTIVE AND RESPONSIBLE OWNERSHIP 3 Aker’s corporate responsibility 4 Priorities and results in 2016 5 2. SOCIETY Creating value for society 6 The first 21 Aker Scholars 7 3. PEOPLE People create Aker 9 The Aker model globally 11 4. INTEGRITY Zero tolerance for corruption 12 Open dialogue 13 5. ENVIRONMENT Aker takes responsibility for the environment 14 Putting climate problems on the agenda 16 Sustainability enhances competitiveness 17 6. PRIORITIES AND OBJECTIVES FOR 2017 Profitable and forward-looking companies 18 Akers priorities and objectives for corporate responsibility 2017 19 The Aker cooperation model was on the agenda at the Global Works Council’s meeting in 2016. Employee representatives from Europe, Brazil and India attended the meeting together with the CEOs of Aker, Aker Solutions and Akastor. CORPORATE RESPONSIBILITY IN AKER ASA 2016 3 ACTIVE AND RESPONSIBLE OWNERSHIP Aker ASA (Aker) exercises active ownership with a view to creating value for its shareholders and society at large. Directly or indirectly, Aker is the largest Aker’s Code of Conduct is the com- achieve results is as important as the shareholder in eight companies listed pany’s governing document setting actual results. Each company’s board of on the Oslo Stock Exchange. The major- out ethical guidelines for employees directors is responsible for regular re- ity on the respective boards of the eight and partners, and principles relating sult assessment and evaluation. listed portfolio companies have no ties to workers’ rights, human rights anti- to Aker. Aker’s management follows up corruption, societal conditions, health, Aker’s investment team, including the the investments with the backing of an the environment and safety (HSE), and legal department, is responsible for the analytic, dedicated investment team.
    [Show full text]
  • Aker Asa Fourth-Quarter and Preliminary Annual Results 2019
    Q4 2019 AKER ASA FOURTH-QUARTER AND PRELIMINARY ANNUAL RESULTS 2019 Aker ASA Fourth-quarter and preliminary annual results 2019 2 Highlights Key figures - Aker ASA and holding companies Key events The net asset value (“NAV”) of Aker ASA and holding companies The Johan Sverdrup field started production in the fourth quarter (“Aker”) ended at NOK 50.0 billion in the fourth quarter, up 16 per and has already ramped up production to well above 300,000 cent from NOK 43.1 billion at the end of the third quarter, and up barrels per day and is on track to reach 440,000 barrels per day 24 per cent dividend adjusted from NOK 41.7 billion at year-end by the summer. 2018. The per-share NAV amounted to NOK 673 as per 31 December 2019, compared to NOK 580 as per 30 September Aker BP moved into Phase 2 of the Ærfugl project, and first oil 2019 and NOK 562 as per 31 December 2018. was produced from the Valhall Flanke West, where Aker BP is the operator. Aker Solutions and Kvaerner are engaged in both The Aker share increased 12.3 per cent in the fourth quarter. This projects through the successful alliance model. compares to a 5.1 per cent increase in the Oslo Stock Exchange’s benchmark index (“OSEBX”). The Aker share Kvaerner signed a NOK 1.5 billion contract with Equinor for development of the Hywind Tampen project, the world’s largest increased 22.5 per cent in 2019, including dividend paid. This compares with a 16.5 per cent increase in the Oslo Stock floating offshore wind farm.
    [Show full text]
  • Personal Reflections
    8 Personal reflections In 2013, we – the shareholders in Aker – became NOK 2 billion richer, measured in net asset value and paid dividends. My goal was to double Aker’s net asset value, including dividends, in five years. The result was a 50 percent increase in the period from 1 January 2009 to 31 December 2013. Aker grew on average by 8.8 per cent per year period. The OSEBX achieved 18 the OSEBX companies. During the same main Oslo Stock Exchange index. However, year during the period, while my target was per cent. period, Aker’s net asset value increased the performance behind the figures varies 15 per cent. ■ The development of our share price from NOK 250 to NOK 332 per share and considerably. I can only quote cross­country skier Pet­ this past year: In 2013 alone, the Aker dividends totalling NOK 46 per share were Aker Solutions has been the strongest Beskjæres 76 mm fra venstre før trykk >> ter Northug Jr. who, after failing to win a share generated a return of 10 per cent, paid. My aim was to exceed NOK 500 per value driver during the period: the return on medal at the Sochi Winter Olympics, com­ while OSEBX rose by 24 per cent. Net share, including dividends, in five years. Aker’s holdings in Aker Solutions shares mented: “I felt I was in good shape, but I asset value per share increased by 3.5 In other words, in five years, NOK 250 of has on average increased by 40 per cent didn’t win the gold.” per cent in 2013, and dividends paid to shareholder value in Aker has been turned annually (IRR).
    [Show full text]
  • Aker ASA ESG Report 2019 3
    ESG REPORT 2019 E Environmental We are committed to being part of the solution § Using our role as an active, responsible owner § Being a driving force to reduce negative environmental impact from operations of our portfolio companies § Making the Norwegian Continental Shelf a benchmark for safe, sustainable and profitable oil and ESG gas production S Social We are committed to our employees and communities § Investing in health and wellness of our employees § We are committed to supporting and having a positive impact on our local communities, e.g. through Aker Scholarship and Stiftelsen VI § Zero tolerance for discrimination, harassment and degrading treatment of employees G Governance We are committed to good governance Contents § Based on best practice recommendations from Oslo Stock This ESG report provides an account of the Exchange and NUES processes and structures Aker has in place § Code of Conduct as governing to support our commitment to ESG issues. document with expected alignment throughout the portfolio § Regular risk reviews by the Board, Message from our CEO 3 including environmental and climate-related risks Our company 4 § Ensuring employee representation in Aker’s boardroom and in Our Approach to ESG 6 the boardrooms of all portfolio Commitment to environmental companies responsibility 8 Commitment to social responsibility 1 1 Commitment to good governance 14 Portfolio overview 18 TCFD report 24 Aker ASA ESG report 2019 3 ESG considerations are core premises for our business and investment decisions. We are simultaneously respectful about the fact that when the world is back to normal it will need more energy going forward. A question we ask ourselves is how oil and gas are being produced.
    [Show full text]
  • Aker ASA Third-Quarter Results 2019
    Proud ownership Aker ASA Q3 Third-quarter results 2019 2019 1 November 2019 Highlights Third quarter: ▪ Net asset value: NOK 43.1 billion, down from NOK 44.8 billion in second quarter ▪ Return: Aker share down 1.4 per cent to NOK 484 ▪ Liquidity reserve: NOK 5.2 billion, cash amounted to NOK 2.7 billion Key events: ▪ Kværner: Established two new business areas; FPSO and Renewables, to grow operations ▪ Ocean Yield: Successfully completed a perpetual hybrid bond issue of USD 125 million, carrying coupon of 3-month LIBOR + 6.50 per cent p.a. ▪ Aker: Launched the Centre for the Fourth Industrial Revolution (C4IR) Norway together with the World Economic Forum ▪ Aker BP: In October, the Johan Sverdrup field came on stream more than two months ahead of schedule and NOK 40 billion below budget ▪ Aker Solutions: In October, launched its "20-25-30" strategy whereby revenue from renewables is targeted to represent as much as 20 per cent of revenues, and low-carbon solutions as much as 25 per cent of revenues by 2030 ▪ Aker: In October, signed a Memorandum of Understanding with Saudi Aramco for a strategic partnership on industrial digitalization and sustainability initiatives ▪ Aker Energy: In October, changed its strategy in Ghana to de-risk the Pecan development within the frames of the current petroleum agreement and only with tie-ins already identified 1 November 2019 AKER ASA | Third-quarter results 2019 2 Aker ASA and holding companies 7.3% return on NAV YTD including paid dividend, -3.8% return in 3Q Net asset value change YTD 2019 Net asset value change in 3Q 2019 NOK billion NOK billion 4Q18 41.7 2Q19 44.8 Aker BP 5.6 Aker BP 0.5 Ocean Yield (0.3) Ocean Yield (0.4) Aker Solutions (1.4) Aker Solutions (1.0) Kvaerner 0.0 +3% Kvaerner (0.2) -4% Akastor (0.2) Akastor (0.1) Dividend paid (1.7) Dividend paid 0.0 Other (0.7) Other (0.5) 3Q19 43.1 3Q19 43.1 1 November 2019 AKER ASA | Third-quarter results 2019 3 Aker ASA and holding companies Share price up 9.6% Q3-YTD dividend adjusted - strong balance sheet NAV per share vs.
    [Show full text]
  • Registration Document
    Registration Document AKER ASA Senior Unsecured Bond Issue 2015/2020 ISIN: NO 0010737158 Date: 30 June 2015 Joint Lead Managers: DNB Markets Nordea Markets Pareto Securities Registration Document IMPORTANT INFORMATION The Registration Document has been prepared in connection with listing of the bonds at Oslo Børs. This Registration Document is subject to the general business terms of the Lead Managers. Confidentiality rules and internal rules restricting the exchange of information between different parts of the Lead Managers may prevent employees of the Lead Managers who are preparing this document from utilizing or being aware of information available to the Lead Managers and/or affiliated companies and which may be relevant to the recipient's decisions. The Lead Managers and/or affiliated companies and/or officers, directors and employees may be a market maker or hold a position in any instrument or related instrument discussed in this Registration Document, and may perform or seek to perform financial advisory or banking services related to such instruments. The Lead Managers’ corporate finance department may act as manager or co-manager for the Company in private and/or public placement and/or resale not publicly available or commonly known. Copies of this Registration Document are not being mailed or otherwise distributed or sent in or into or made available in the United States. Persons receiving this document (including custodians, nominees and trustees) must not distribute or send such documents or any related documents in or into the United States. Other than in compliance with applicable United States securities laws, no solicitations are being made or will be made, directly or indirectly, in the United States.
    [Show full text]
  • Aker's 175 Anniversary
    Aker“Aker’s’s 175 175thth anniversary” -- An insight iintonto Aker’Aker´ss DNADNA andand important important events events f fromrom thethe ppastast 2525 Yearsyears Fredrik Raak Dahl SVPRO 4000 -Prosjektforum Sofia Ellen Davidson Mira Sofie H.Iversen 2015 Silje Ingeborg Nordstad Camilla H.Riibe EXECUTIVE SUMMARY Survival is not about being one of many, it is about respecting your legacy, being able to see opportunities when they arise and dare to take a risk where no else does. ! ! In 2016 Aker will be celebrating its 175th anniversary. This report is written in association with this celebration. Its main purpose is to highlight important events that have occurred over the past 25 years. What events are considered to be important? How have these events influenced the environment and Aker’s future? This is what we have attempted to answer in our report. We chose a snowball method which means we performed a few preliminary interviews that guided us to our next interview subjects. After analysing the data we collected from our interviews, combined with our literature, we ended up with several interesting findings. Our findings include: - Aker’s part in the development of the oil and gas industry in Norway - The growth of subsea - New ownership in Aker, an event that occurred in 1996-1997 - Fishing industry becomes a part of Aker’s portfolio in 1996 - Aker Maritime and Kvaerner merge and de-merge, this happened in 2002 and 2011 - Aker ASA goes in a new direction from 2009 - An acquisition in Det norske takes place, and Aker Exploration merges with Det norske 2009 - Ocean Yield is established in 2012 ! We have analysed these events and areas of importance, and attempted to establish how they have impacted Aker’s future and its environment.
    [Show full text]
  • Dividend Yield Strategies in Times of Increasing Interest Rates
    Dividend Yield Strategies in Times of Increasing Interest Rates An Examination of the Norwegian Stock Market Copenhagen Business School M.Sc. in Applied Economics and Finance Master’s Thesis Nikolai Esse Berge Erik Eugen Voll Didriksen 116561 115640 Supervisor: Michael Ahm 15.05.2019 Characters: 216,211 Pages: 108 Abstract I ___________________________________________________________________________ Abstract The current macro-economic conditions, with historically low interest rates, have created problems for investors to achieve risk-free inflation protected returns. In this environment, dividend yield strategies, such as “Dogs of the Dow” which this thesis is based on, have become increasingly attractive to yield-seeking investors. Previous research on this topic has concluded with various results. On these grounds, the aim of this thesis is to examine a high dividend yield strategy in the Norwegian stock market, on an absolute and risk-adjusted level. Further, a particular focus on periods with increasing and decreasing interest rates are more distinctly investigated. In order to control for different risk factors, such as market, size, value and momentum in our returns, a Carhart (1997) model is applied. A dividend risk factor will also be constructed to identify if there is a general dividend premium in the Norwegian market. Throughout the examination period from 2002 until 2019, our high dividend yield portfolio has significantly outperformed the benchmark index. After estimating the expected returns, adjusted for risk with the Carhart four-factor model, the high dividend yield portfolio still achieve positive abnormal returns, with a yearly average of 4.81%. Cyclical attributes are found in the portfolio, suggesting the superior returns to be dependent on a bull market.
    [Show full text]
  • Aker ASA Half-Year Report 2021
    Click here to enter text. Aker ASA Second quarter and half-year results 2021 2 Highlights Key figures - Aker ASA and holding companies Key events in the quarter The Net Asset Value (“NAV”) of Aker ASA and holding companies Cognite raised USD 150 million in a Series B investment by TCV, (“Aker”) increased by NOK 5.6 billion (9 per cent) in the second a leading US technology-focused growth equity firm. The quarter of 2021, including NOK 0.9 billion in dividends paid. At the investment raised Cognite’s valuation to USD 1.6 billion on a 100 end of the second quarter the NAV was NOK 66.9 billion per cent basis. compared to NOK 62.2 billion at the end of the first quarter. Aker Horizons announced that Aker Offshore Wind has formed a The per-share NAV amounted to NOK 901 as per 30 June 2021, consortium with BP and Statkraft to pursue a bid to develop compared to NOK 838 as per 31 March 2021 (prior to allocation offshore wind power in the Sørlige Nordsjø II (SN2) license area. of the NOK 11.75 per share dividend paid during the second Aker Horizons also announced that Mainstream Renewable quarter). Power has signed an agreement to acquire 80 per cent of a portfolio of solar projects in Vietnam. The Aker share fell 1 per cent (adjusted for dividend) in the second quarter to NOK 635. This compares to a 6 per cent Aker Solutions was awarded a large framework agreement from increase in the Oslo Stock Exchange’s benchmark index Petrobras to provide lifecycle services for Petrobras-operated oil and gas fields offshore Brazil.
    [Show full text]
  • Annual Report 2015
    Home | Contents | This is Aker BioMarine | Corporate governance | Board of Directors | Directors' report | Financial statements | Contact 1 / 72 Annual report 2015 2015-AKBM-02.indd • Created: 09.10.2014 • Modified: 03.06.2016 : 19:22 All rigths reserved © 2016 Teigens Design Home | Contents | This is Aker BioMarine | Corporate governance | Board of Directors | Directors' report | Financial statements | Contact 2 / 72 Contents “In 2015, we set a clear course for our passionate and This is Aker BioMarine 3 capable organization: We 2015 in numbers 4 will be an integral part of our CEO's letter 6 customers’ success, we will Management 10 Growth 12 continue to drive scientific Production 16 discovery and innovation, and Innovation 20 Sustainability 24 we will further strengthen our product quality and cost Corporate governance 28 leadership.” Board of Directors 32 Matts Johansen, CEO, Aker BioMarine Directors' report 34 Financial statements 38 Directors’ responsibility statement 39 Group accounts 40 Parent company accounts 60 Auditor's report 68 Contact 70 Aker BioMarine AS annual report 2015 2015-AKBM-02.indd • Created: 09.10.2014 • Modified: 03.06.2016 : 19:22 All rigths reserved © 2016 Teigens Design Home | Contents | This is Aker BioMarine | Corporate governance | Board of Directors | Directors' report | Financial statements | Contact 3 / 72 This is Aker BioMarine: 2015 in numbers | CEO's letter | Management | Growth | Production | Innovation | Sustainability This is Aker BioMarine Aker BioMarine is a leading supplier of krill-derived products to the consumer health and wellness and animal nutrition markets. Aker BioMarine is dedicated to the sustainable harvest of krill and development of krill-derived products.
    [Show full text]
  • Aker Solutions Prospectus
    PROSPECTUS AKER SOLUTIONS HOLDING ASA to be renamed AKER SOLUTIONS ASA (A public limited liability company organised under the laws of Norway) Listing of the shares in Aker Solutions Holding ASA under its new name Aker Solutions ASA on the Oslo Stock Exchange The information contained in this prospectus (the “Prospectus”) relates to the listing on Oslo Børs (the “Oslo Stock Exchange”) of all ordinary shares (the “Shares”), each with a par value as at the day of listing of NOK 1.08, in Aker Solutions Holding ASA, a public limited liability company organised under the laws of Norway and to be renamed Aker Solutions ASA on the date of completion of the Demerger (as defined below) (“New Aker Solutions” or the “Company”). This Prospectus serves as a listing prospectus as required by applicable laws in Norway. This Prospectus does not constitute an offer or solicitation to buy, subscribe or sell the securities described herein, and no securities are being offered or sold pursuant to this Prospectus in any jurisdiction. On 12 August 2014, the general meetings of the company currently named Aker Solutions ASA (“Existing Aker Solutions”, to be renamed Akastor ASA (“Akastor”) on the date of the completion of the Demerger (as defined below)) and New Aker Solutions approved a demerger plan (the “Demerger Plan”) in respect of, and resolved to carry out, a demerger (the “Demerger”) pursuant to which all shares in Aker Solutions Holding AS — a wholly owned subsidiary of Existing Aker Solutions that owns or will acquire the group of entities carrying out the business discussed in Section 11 “Business Overview” (the “New Aker Solutions Business”) — and certain other assets, rights and liabilities primarily relating to the New Aker Solutions Business as further discussed in Section 5.2 “The Demerger; Admission to Trading of the Shares—Allocation of Assets, Rights and Liabilities in the Demerger”, will be transferred to New Aker Solutions.
    [Show full text]
  • Annual Report 2006 Annual Report 2006 Aker Yards Employees at the Saint-Nazaire Ship- Yard in France — Skilled Shipbuilding Professionals
    Annual Report 2006 Annual report 2006 Aker Yards employees at the Saint-Nazaire ship- yard in France — skilled shipbuilding professionals ● Aker is an active industrial owner ● Aker companies have a total of 55,000 employees in 45 countries ● Total 2006 revenues: NOK 80 billion ● Main focus: Energy, maritime and marine-resoures industries People make Aker what it is … as they have for three centuries A tradition of innovation Aker is a skilled, active developer of world-class industries, with 55,000 employees on five continents, and operating revenues of NOK 80 billion. Aker has a tradition for innovation — stretching vessel gear, and construction materials, and all the way back to the industrial revolution in built ships. The focus on transportation included Great Britain and the Nordic countries. Aker was deliveries of components to ever-larger vessels founded in 1841, but several of its business ac- for international commerce. Our workshops tivities have roots that date back to the 1700s. were recognized wellsprings of innovation. Initially, these businesses developed and built In recent decades, Aker has strengthened machinery components and equipment needed its position as the preferred partner of leading to develop the iron, metals, and shipping indus- oil and gas companies, a wide range of indus- tries of their day. tries, and shipowners. Aker’s heritage is the In the heyday of steam power, Aker’s pre- people who were always willing to take on chal- decessors delivered machinery to pioneers in lenges and to deliver industrial solutions. Aker’s the developing timber, lumber, paper, and coal generations of dedication and know-how, com- industries as well as hydropower turbines.
    [Show full text]