Successful Conclusion of Due Diligence Process
15.02.2006 - Nutri Pharma ASA acquired all shares in Meridian International Group (MIG) as per 1 July 2005 for a consideration
to consist of ....
Oslo, Feb 15, 2006Nutri Pharma ASA acquired all shares in Meridian International Group (MIG) as per 1 July 2005 for a consideration to consist
of a maximum of 24 million Nutri Pharma ASA shares. Nutri Pharma ASA has agreed with the sellers of MIG that the consideration
shall be made in instalments, the first being Nutri Pharma`s 6 mill. own treasury shares (subject to finalization of a due
diligence of MIG), and the remaining 18 mill new shares to be issued, at the latest by 31 March 2007.This is to confirm that the due diligence of MIG has now been formally approved by the Board of Directors of Nutri Pharma
ASA, and Nutri Pharma has today transferred to the sellers of MIG 6 mill. shares in Nutri Pharma ASA, 1.2 mill. shares to
Jamie Mather (through the company Nexus), Vice President and co-founder of MIG, and 4.8 mill. shares to Daniel Laroque (through
the company Cleverling), President and co-founder of MIG and board member of Nutri Pharma ASA. Following the transfer of the
shares, Nexus owns 2.2 mill. shares, Cleverling 5.8 mill. shares and Nutri Pharma 1.625 shares in Nutri Pharma ASA.Oslo, 15 February 2006.
For further information please contact:
Nutri Pharma ASA +47 23310880