Rolls-Royce announces unconditional offer for Odim

The shares represent 64.3% of the outstanding shares in Odim, a technology group that engineers and produces advanced and complete automated handling solutions in the offshore oil & gas, naval and power generation markets. Prior to the offer, Rolls-Royce owned 33.0% of the issued share capital in Odim. The shares tendered, combined with the shares owned prior to the offer represent 97.3 percent of the shares and voting rights in Odim. The board of directors of Rolls-Royce Marine has decided to proceed with the consummation of the offer.

Rolls-Royce intends to make a compulsory acquisition of the remaining shares in Odim pursuant to the Norwegian Public Companies Act and will then proceed with an application for a de-listing of the shares of Odim from Oslo Børs.