The Offer is not being made, and this press release may not be distributed,
directly or indirectly, in or into, nor will any tender of shares be accepted
from or on behalf of holders in, any jurisdiction (including without limitation
Australia, Canada, Hong Kong, Japan, New Zealand, South Africa or Switzerland)
or the United States in which the making of the Offer, the distribution of this
press release or the acceptance of any tender of shares would contravene
applicable laws or regulations or require further offer documents, filings or
other measures in addition to those required under Norwegian law. For further
information, please see section entitled "Important notice" and "Notice for U.S.
shareholders" in attachment on www.newsweb.no.
 
Following the announcement made on December 18, 2020, to combine forces with
Entra ASA ("Entra"), Castellum Aktiebolag (publ) ("Castellum") launches the
voluntary share exchange and cash offer for all outstanding shares in Entra not
already owned by Castellum (the "Offer"). Subject to the terms and conditions of
the Offer set out in an offer document dated January 7, 2021 (the "Offer
Document"), Castellum is offering each eligible Entra shareholder 8 newly issued
Castellum shares for every 13 shares in Entra and NOK 54.39 in cash per share in
Entra. Eligible shareholders of Entra can tender their shares between January 8
and February 6, 2021 (subject to extension).
 
Offer summary
 
o	The Offer values each share in Entra at NOK 186.19 (1) exclusive of synergies
and consists of 8 newly issued Castellum shares for every 13 shares in Entra and
NOK 54.39 in cash per share in Entra. Eligible shareholders of Entra are also
offered a mix-and-match facility as is further described below and in the Offer
Document
 
o	The Offer represents a premium of 29.6% to Entra's undisturbed closing share
price as of November 23, 2020, 42.5% to Entra's volume weighted average share
price for the 3-month period ending November 23, 2020, and 14.9% to Entra's
reported Q3 2020 EPRA NRV (2)
 
o	Entra shareholders will benefit from the value of the synergies from the
transaction, which could provide additional value of up to approximately NOK 16
per Entra share (3), and Entra shareholders who accept the Offer could also
receive a value uplift resulting from the EPRA NRV increase from premium
realized in the asset portfolio sale to Blackstone of up to approximately SEK 8
per Castellum share (reference is made to the announcement made December 18,
2020 regarding the Blackstone transaction)
 
o	The Offer is not conditional on financing and Castellum's shareholders have
already approved the board authorization for the issuance of the Castellum
shares offered as consideration in the Offer 
 
o	The offer period in the Offer commences January 8 and lasts until February 6,
2021, at 06:00 hours (CET). Castellum reserves the right to extend the offer
period
 
--------------------------------
(1) Based on Castellum share price at closing on January 5, 2021, of SEK 205.70,
SEK/NOK FX rate of 1.0412 applied (source: Norges Bank).
(2) EPRA Net Reinstatement Value, defined as Equity as recognised in the balance
sheet, adjusted for interest rate swaps, goodwill relating to deferred tax, and
deferred tax in its entirety.
(3) Maximum synergies value per Entra share based on a shareholder electing to
receive the maximum amount of shares in the mix & match facility
 
 
Subject to regulatory restrictions in certain jurisdictions, the Offer Document
is sent to eligible shareholders in Entra whose address appears in Entra's share
register in the VPS as of January 7, 2021. The Offer Document, including the
acceptance form, will also, subject to regulatory restrictions in certain
jurisdictions, be available at Danske Bank's website,
https://danskebank.no/entra, and at Castellum's website,
https://www.castellum.se/en/, from today, January 7, 2021. Subject to regulatory
restrictions in certain jurisdictions, hard copies of the Offer Document may be
obtained free of charge from the same date by contacting Danske Bank A/S.
 
Please see further information in attachment on www.newsweb.no

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