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FLSmidth Company Announcements

FLSmidth & Co. A/S sells its shareholding in Spæncom A/S

28.02.2005
Message to the Copenhagen Stock Exchange, No. 08 - 2005, 28 februar 2005.
FLSmidth & Co. A/S has today sold its total shareholding in Spæncom A/S to the group of persons backing the current major shareholder and the management.
The sale of the shareholding in Spæncom is part of  FLSmidth's strategy to concentrate its activities on development and production of machinery, equipment, systems and services and full production lines and plants for the global cement and mineral industry.
 
The shareholding which comprises 34 % of Spæncom's total share capital includes 39,678 A shares and 103,054 B shares - all at nominal value of DKK 100. The agreed purchase price per share amounts to DKK 70.06 - corresponding to a total sales price of  DKK 10m. Being the major shareholder, the buyer already has a solid knowledge of Spæncom A/S and has therefore agreed to purchase the shares on an "as is " basis. The purchase price is thus paid in cash at the time of concluding the sale.
As a result of the sale, FLSmidth's representatives will resign from the Board of Spæncom A/S.
 
The sale will only slightly affect FLSmidth & Co.'s earnings before tax (EBT) and shareholders' equity. 
 
Please direct any inquiries regarding this announcement to Mr Bjarne Moltke Hansen, Group Executive Vice President, FLSmidth & Co. A/S, telephone + 45 36 18 18 00.
 
FLSmidth
Corporate Public Relations