EG Norge AS entered into voluntary cash offer to acquire Ørn Software Holding AS from Viking Venture AS for approximately NOK 590 million on May 30, 2022. Under the terms, EG Norge AS will acquire the entire shares of Ørn Software for NOK 6.25 per share. The Board of Directors of Ørn Software has unanimously decided to recommend the shareholders of the Ørn Software to accept the Offer. Offer period starts from including June 8, 2022 to June 22, 2022 (subject to extension). The offer period has been extended till July 6, 2022. As of July 5, 2022, EG Norge has received acceptances from shareholders representing more than 90% of the issued and outstanding share capital and voting rights of Ørn Software, consequently fulfilling the condition for closing of the Offer relating to minimum acceptances. Completion of the Offer remains subject to all outstanding closing conditions, including clearance from the Finnish Ministry of Employment and the Economy (FDI Clearance). The offer period will be expired on July 6, 2022 and will not be extended beyond this period. Following the final verification of acceptances, EG Norge has received acceptances under the Offer for a total of 90,735,265 shares, equivalent to approximately 96.12% shares. As a result of receiving acceptances from shareholders representing more than 90% of the shares and votes in Ørn Software, and following completion of the Offer, EG intends to make a compulsory acquisition of the remaining shares. It is expected that settlement for shares acquired in connection with such compulsory acquisition will take place approximately 3 months after completion of the Offer and the price per share in the compulsory acquisition is expected to be the same as in the Offer. Shareholders that wish to accept the Offer after the offer period, can do so by contacting Danske Bank. As of July 7, 2022, the transaction is awaiting regulatory approvals in Finland.

Danske Bank A/S, Norway Branch acted as financial advisor and Arntzen de Besche Advokatfirma Stavanger DA acted as legal advisor to EG Norge AS. ABG Sundal Collier Norge ASA , Pareto Securities AS acted as financial advisor and Advokatfirmaet Thommessen AS acted as legal advisor to Ørn Software Holding.

EG Norge AS completed the acquisition of Ørn Software Holding AS (OB:ORN) from Viking Venture AS on August 1, 2022. Johan Åkermack and Jonatan Hallvar of Dittmar & Indrenius Attorneys Ltd. acted as legal advisor to EG Norge AS.