Eqva ASA

Director's Dealing • Oct 9, 2024

Eqva ASA: Mandatory notification of trade

Eqva ASA: Mandatory notification of trade

Eqva ASA (the Company) has been informed by primary insiders Rune Skarveland and Trond Narve Skarveland that their respective closely associated investment companies Eikestø AS, Eikestø Eiendom AS, Fureneset Eiendom AS and Fureneset Invest AS have entered into an agreement with Nordic Corporate Bank to transfer all of their 15.9 million (21.2 percent) shares in Eqva ASA (see attached forms KRT-1500 for details).

The agreed price is NOK 4.80 per share, corresponding to the price in the private placement carried out by the Company on 3 October this year. The total consideration in the transaction is NOK 76.4 million.

The two primary insiders have stated that the share sale is due to a requirement to realise values in the respective investment companies after they have had to book significant losses related to investments in real estate.

"We are proud of the development that has taken place in Eqva. The company has shown solid progress in recent years, and we would have liked to continue as owners," said Rune Skarveland, Chairman of the Board of EQVA.

He emphasizes that the transactions have no connection with the performance or prospects of Eqva.

Eqva ASA understands that Nordic Corporate Bank will ask for a seat at the board of the company and that it will act as a responsible owner. The new owner supports Eqva ASA and the company's board and management in the implementation of the company's strategy.

Eqva ASA is firmly rooted in a proud industrial tradition. Senior executives and board members continue to own about 34 per cent of the shares in the company, also after these transactions. Rune Skarveland and Trond Narve Skarveland will continue as chairman and board member of the company respectively until further notice.

Contact

Rune Skarveland, Chairman of the Board

Phone +47 900 84 040

Primary insider notifications pursuant to the Market Abuse Regulation article 19 is attached.

This information is subject to the disclosure requirements pursuant to Regulation EU 596/2014 (MAR) article 19 and the Norwegian Securities Trading Act section 5-12.

About EQVA

EQVA ASA is a knowledge-based active owner of engineering, construction and service companies that contribute to the green transition in maritime, power intensive and renewable industries. The company is a fully integrated service and maintenance supplier for the Norwegian land-based and maritime industry.

The group has a well-diversified product and market portfolio, and further growth will be established through a combination of company-based development and utilization of synergies between the companies in the group.

Key companies in the group are BKS and Fossberg Kraft, each building on decades of experience and widely recognized by clients in a broad range of industries.