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).
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, joar.welde@vikingventure.com
Mikkel Bardram, CEO of EG, +45 2922 6548, mibar@eg.dk
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
