EG Norge AS’ compulsory acquisition of shares in Ørn Software Holding AS

2.8.2022 08:31:11 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 1 August 2022, regarding the completion of 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").

Following completion of the Offer, EG owns 90,937,166 shares in the Company, representing approximately 96.32% of the share capital and voting rights in the Company.

The Board of Directors of EG has pursuant to Section 4-26 of the Norwegian Private Limited Companies Act, resolved to carry out a compulsory acquisition of all remaining shares in the Company, not owned by EG. Consequently, EG has now become the owner of all the outstanding shares in the Company.

The offered redemption price under the compulsory acquisition will be NOK 6.25 per share, which corresponds to the offer price in the Offer. The total amount payable for the shares has been transferred to a separate escrow-account at Danske Bank, Norwegian Branch and will be paid to those shareholders that have accepted the offered redemption price within 2 October 2022.

Former shareholders in the Company, who as per 2 October 2022 have either accepted the offered redemption price or have not made any objections, will get the offered redemption price paid at the latest 15 October 2022. The offered redemption price can be paid out earlier to shareholders that have accepted the offer prior to 2 October 2022.

As a consequence of the compulsory acquisition, EG will resolve to seek a de-listing of Ørn Software’s shares from Euronext Growth Oslo. A separate announcement will be published regarding the de-listing process.

For further information, please contact:

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

• 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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