Fulfilment of the closing conditions of the voluntary cash offer by EG Norge AS to acquire all shares in Ørn Software (ORN)

12.7.2022 16:23:56 CEST | Ørn Software Holding AS | Additional regulated information required to be disclosed under the laws of a member state

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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"), as well as the announcement regarding the final results of the Offer made on 7 July 2022.

Ørn is pleased to announce that on 12 July 2022, the Finnish Ministry of Employment and the Economy cleared the transaction without any qualifications or remedies, consequently fulfilling the condition for closing of the Offer relating to Finnish Ministry of Employment and the Economy (cf. item 3.6 c. b. in the Offer Document). 

Closing of the Offer is expected to take place during July 2022. 

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 is expected to 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.

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

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

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