Completion of the voluntary cash offer by EG Norge AS to acquire all shares in Ørn Software

1.8.2022 09:41:58 CEST | Ørn Software Holding AS | Additional regulated information required to be disclosed under the laws of a member state

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 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 announcement regarding the final results of the Offer made on 7 July 2022, as well as the announcement regarding FDI clearance on 12 July 2022.

The Offeror hereby announces that settlement of the Offer has been made in accordance to section 3.12 of the Offer Document. Following the settlement and as of today, the Offeror has a total shareholding in the Company of 90,637,166 shares, equivalent to approximately 96% of the shares and votes in the Company.

As mentioned in a previous press release, EG intends to make a compulsory acquisition of the remaining shares in the Company pursuant to Section 4-26 of the Norwegian Private Limited Liability Companies Act. The price per share in the compulsory acquisition will be the same as in the Offer.

For more information, please refer to the Offer Document dated 8 June 2022, prepared by the Offeror in connection with the Offer. The Offer Document is available, subject to regulatory restrictions in certain jurisdictions, at the website of Danske Bank (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.

For further information, please contact:

Joar Welde, Chairman of the Board of Directors of Ørn Software

Telephone: [phone]

Email: [e-mail]

Mikkel Bardram, CEO of EG
Telephone: [phone]

Email: [e-mail]

 

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.

 

Disclosure regulation

​This information is such that Ørn Software Holding AS is required to disclose in accordance with the EU Market Abuse Regulation.

​This information was submitted for publication by the Company's CFO, Vidar Andre Løken.

Contacts

• Joar Welde, Chairman of the Board of Directors of Ørn Software, [phone], [e-mail]
• Mikkel Bardram, CEO of EG, [phone], [e-mail]

About Ørn Software Holding AS

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

Attachments

• Download announcement as PDF.pdf

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