Extraordinary General Meeting held

Reference is made to Stock Exchange Announcement 
dated 3. April 2012, where an Extraordinary General 
Meeting was called to vote for resolution to 
strengthen the Company's capital structure and to 
stock exchange notification dated 24. April 2012 
related to the bondholders meeting held the same day.

 
Blom ASA held its Extraordinary General Meeting 25. 
April 2011. The minutes of the meeting is attached at 
www.newsweb.no.

Resolutions were made in accordance with the call for 
Extraordinary General Meeting, dated 3. April 2012, 
which primarily are:

- NOK 311 512 536 of the 2009 Bond Issue are 
converted into shares. The conversion will be carried 
out at a conversion price of NOK 10 per share, 
subject to a consolidation of Blom's shares, whereby 
100 existing shares of par value NOK 0.10 will be 
consolidated into one new share of par value NOK 10.

- In connection with the combination of shares 100:1 
primary insider Hirsti Invest AS, close associate to 
Chairman of the Board, subscribed for one new share 
at NOK 0.10. Hirsti Invest AS holds one share in Blom 
ASA after the transaction. This to make the total 
number of outstanding shares in Blom dividable with 
100.
  
- The Company's share capital was reduced by NOK 
24,191,484 from NOK 25,464,720 to NOK 1,273,236 by a 
reduction of the nominal value of the Company's 
shares from NOK 10 to NOK 0.50.

- NOK 34,612,504 of the 2009 Bond Issue exchanged 
their bonds in the 2009 Bond Issue for bonds in a new 
convertible bond issue. For every 2009 Bond tendered 
into the exchange offer the tendering bondholders 
receive 0.31 convertible bonds. The new convertible 
bond will have a 5 year term and an interest rate of 
2.0% p.a. The bonds in the convertible bond issue are 
convertible into shares during the first two years of 
the loan at a subscription price equal to 120% of the 
volume weighted average price the two trading days 
post the EGM.

-	Certain amendments are made to the terms of 
the 2011 Bond Issue, including (i) change of maturity 
from 4 June 2012 to 30 April 2015, (ii) change of 
margin from 11.0% p.a. to 5.5% p.a. and (iii) 
amendment of the share pledges and guarantees 
provided under the 2009 Bond Issue to secure the 2011 
Bond Issue.

This information is subject to the disclosure 
requirements according to Section 5-12 of the 
Securities Trading Act.

For further information please contact CEO Dirk 
Blaauw, on tel. +47 22 13 19 20 or CFO Lars Bakklund, 
tel. +47 22 13 19 34.