Clearance received from Norwegian Competition Authority regarding the voluntary cash offer by EG Norge AS to acquire all shares in Ørn Software (ORN)

27.6.2022 07:00:01 CEST | Ørn Software Holding AS | Non-regulatory press
releases

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA,
CANADA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE
WOULD BE UNLAWFUL.

Reference is made to the joint announcement made on 30 May 2022, regarding the
voluntary cash offer by EG Norge AS ("EG" or the "Offeror") to acquire all
outstanding shares of Ørn Software Holding AS ("Ørn Software" or the "Company")
at a price of NOK 6.25 per share (the "Offer"). The acceptance period for the
Offer will expire at 16:30 hours (CEST), 29 June 2022.

On 24 June 2022, the Norwegian Competition Authority cleared the transaction
without any qualifications or remedies, consequently fulfilling the condition
for closing of the Offer relating to Norwegian merger control rules (cf. item
3.6 c. a. in the Offer Document). Completion of the Offer remains subject to all
other closing conditions, including clearance from the Finnish Ministry of
Employment and the Economy (FDI Clearance) and the minimum acceptance of the
Offer by shareholder representing more than 90% of the issued and outstanding
share capital and voting rights of the Company.

For more information, please refer to the Offer Document dated 8 June 2022,
prepared by the Offeror in connection with the Offer, which is available at the
website of Danske Bank (www.danskebank.no/orn - http://www.danskebank.no/orn).

Danske Bank, Norwegian Branch, is acting as financial adviser and receiving
agent to EG and Arntzen de Besche Advokatfirma AS is acting as the Norwegian
legal adviser to EG in connection with the Offer.

ABG Sundal Collier ASA and Pareto Securities AS are acting as financial advisers
and Advokatfirmaet Thommessen AS is acting as Norwegian legal adviser to Ørn
Software.

CONTACTS

 * Joar Welde, Chairman of the Board of Directors of Ørn Software, +47 982 06
   930, [e-mail] 
 * Mikkel Bardram, CEO of EG, [phone], [e-mail] 

ABOUT ØRN SOFTWARE HOLDING AS

About Ørn Software: 
Ørn Software is a Nordic provider of SaaS solutions enabling efficient
operations and maintenance across a wide range of asset-heavy industries,
including real estate, manufacturing, food & beverages, and aquaculture.

The Company's software provides customers with improved insight through
data-driven operations and contributes to increased efficiency and reduced costs
through digitalization of facility management and rental processes, data-driven
maintenance, scheduling of resources and energy optimization. All the above
contribute to the lengthening of property and equipment lifespan, a key
component of Ørn Software's value proposition. Furthermore, the Company's
offering enables customers to reduce their environmental footprint and provides
digital tools to meet reporting and regulatory requirements.

About EG:
EG is a market leading vendor of Nordic vertical software for private and public
customers. EG's Software-as-a-Service offerings are developed by specialists
with deep industry and domain knowledge, supporting business-critical and
administrative processes. EG employs 1,700+ people, primarily in the Nordics,
and in 2021, had revenues of DKK 1.8 billion.

ATTACHMENTS

Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17847696/1570/2144/Download%20announcement
%20as%20PDF.pdf

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