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MarketScreener Homepage  >  Equities  >  Oslo Bors  >  Entra ASA    ENTRA   NO0010716418

ENTRA ASA

(ENTRA)
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Real-time Quote. Real-time Oslo Bors - 01/18 07:14:27 am
191.8 NOK   -0.47%
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Entra : Announcement regarding possible offer - update

11/25/2020 | 03:00am EST

The board of directors (the "Board") of Entra ASA (the "Company") refers to announcements made  24 November 2020 regarding a potential offer for the Company's shares.

 As set out yesterday, the Board has concluded that the latest offer made by Samhällsbyggnadsbolaget i Norden AB ("SBB") will not be recommended. The Board currently awaits the launch of the offer, as contemplated by the announcement made by SBB, to fully understand its terms and conditions in order to provide the recommendation to the Company's shareholders as required by the Norwegian Securities Trading Act chapter 6.

 Meanwhile, the Company has since yesterday engaged in continued discussions on the non-binding proposal received from another party. Following an updated evaluation of the latest terms of such proposal, also considering the recent share price movement and the expressed support from shareholders following the announcement on a potential offer, the Board has concluded that the proposal at this point does not form a basis for a further process regarding a potential transaction.

 While the Board appreciates the strategic interest in Entra, the Board believes that Entra has a bright future as an independent company This view is underpinned by a number of factors, including:

 Large, high-quality office portfolio centrally located in attractive Norwegian market

  1. Excellent income visibility from strong tenant roster (60 % public) on long, CPI adjusted leases
  2. Large and exciting project pipeline that will continue to drive income and NAV growth
  3. Expecting strong value development from ongoing yield compression and favorable market developments, especially in Oslo
  4. Strong organisation with track-record and market leading governance and sustainability focus

 The Board remains confident that Entra is well positioned to continue to create significant shareholder value.

 There can be no certainty that any offer will be made or completed. Further announcement will be made when appropriate.

 

Oslo, 25 November 2020

Entra ASA

 For queries, please contact:

Siri Hatlen, Chair of the Board of Directors, + 47 91744863, siri.hatlen@gmail.com

Sonja Horn, CEO, +47 90568456, sh@entra.no

Anders Olstad, CFO, +47 90022559, ao@entra.no

 

Disclaimer

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Contacts

  • Tone Kristin Omsted, Head of Investor Relations, +47 98228510, tom@entra.no

Attachments

  • Download announcement as PDF.pdf

© NTB Norway, source NTB English Regulatory Releases

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Financials
Sales 2020 2 349 M 273 M 273 M
Net income 2020 1 785 M 208 M 208 M
Net Debt 2020 20 773 M 2 417 M 2 417 M
P/E ratio 2020 19,7x
Yield 2020 2,53%
Capitalization 35 097 M 4 106 M 4 084 M
EV / Sales 2020 23,8x
EV / Sales 2021 23,6x
Nbr of Employees 181
Free-Float 83,9%
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Technical analysis trends ENTRA ASA
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 4
Average target price 156,25 NOK
Last Close Price 192,70 NOK
Spread / Highest target -11,8%
Spread / Average Target -18,9%
Spread / Lowest Target -22,2%
EPS Revisions
Managers and Directors
NameTitle
Sonja Horn Chief Executive Officer
Siri Beate Hatlen Chairman
Kjetil Hoff Chief Operating Officer
Anders Landro Olstad Chief Financial Officer
Kjell Bjordal Vice Chairman
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