Oslo, 24 September 2020. Reference is made to the stock exchange notice dated
23 September 2020 where Gudbrandsdal Energi Holding AS ("GEH") announced its
contemplated sale of existing shares in Fjordkraft Holding ASA ("Fjordkraft").
GEH has today sold 2,013,423 shares in Fjordkraft at a price of NOK 89 per
share. The shares were sold through an accelerated bookbuilding process managed
by DNB Markets, a part of DNB Bank ASA.
Following this transaction, GEH owns 7,682,161 shares in Fjordkraft,
representing 6.7% of the issued share capital in Fjordkraft. GEH has entered
into a customary 180 days lock-up for its remaining shares in Fjordkraft.
The distribution of this announcement and the offer and sale of the shares in
certain jurisdictions may be restricted by law. The shares may not be offered to
the public in any jurisdiction in circumstances which would require the
preparation or registration of any prospectus or offering document relating to
the shares in such jurisdiction. No action has been taken by the Manager nor any
of its affiliates that would permit an offering of the shares or possession or
distribution of this announcement or any other offering or publicity material
relating to such securities in any jurisdiction where action for that purpose is
required. Persons into whose possession this announcement comes are required to
inform themselves about and to observe any such restrictions. Any failure to
comply with these restrictions may constitute a violation of the securities laws
of any such jurisdiction.
This press release is for information purposes only and does not constitute or
form a part of an offer to sell or a solicitation of an offer to purchase any
security of the Company in the United States or in any other jurisdiction where
such offer or solicitation is unlawful. The securities of the Company described
in this press release have not been and will not be registered under the U.S.
Securities Act of 1933, as amended (the "Securities Act"), or any applicable
state or foreign securities laws and may not be offered or sold in the United
States absent registration or an exemption from the registration requirements of
the Securities Act. There will be no public offering of securities in the United
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