Entra

M&A Activity • Nov 25, 2020

Announcement regarding possible offer - update

Announcement regarding possible offer - update

25.11.2020 08:57:51 CET | Entra ASA | Inside information

The board of directors (the "Board") of Entra ASA (the "Company") refers to

announcements made 24 November 2020 regarding a potential offer for the

Company's shares.

As set out yesterday, the Board has concluded that the latest offer made by

Samhällsbyggnadsbolaget i Norden AB ("SBB") will not be recommended. The Board

currently awaits the launch of the offer, as contemplated by the announcement

made by SBB, to fully understand its terms and conditions in order to provide

the recommendation to the Company's shareholders as required by the Norwegian

Securities Trading Act chapter 6.

Meanwhile, the Company has since yesterday engaged in continued discussions on

the non-binding proposal received from another party. Following an updated

evaluation of the latest terms of such proposal, also considering the recent

share price movement and the expressed support from shareholders following the

announcement on a potential offer, the Board has concluded that the proposal at

this point does not form a basis for a further process regarding a potential

transaction.

While the Board appreciates the strategic interest in Entra, the Board believes

that Entra has a bright future as an independent company This view is

underpinned by a number of factors, including:

Large, high-quality office portfolio centrally located in attractive Norwegian

market

1. Excellent income visibility from strong tenant roster (60 % public) on long,

CPI adjusted leases

2. Large and exciting project pipeline that will continue to drive income and

NAV growth

3. Expecting strong value development from ongoing yield compression and

favorable market developments, especially in Oslo

4. Strong organisation with track-record and market leading governance and

sustainability focus

The Board remains confident that Entra is well positioned to continue to create

significant shareholder value.

There can be no certainty that any offer will be made or completed. Further

announcement will be made when appropriate.

Oslo, 25 November 2020

Entra ASA

For queries, please contact:

Siri Hatlen, Chair of the Board of Directors, + 47 91744863,

siri.hatlen@gmail.com

Sonja Horn, CEO, +47 90568456, sh@entra.no

Anders Olstad, CFO, +47 90022559, ao@entra.no

DISCLAIMER

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

CONTACTS

* Tone Kristin Omsted, Head of Investor Relations, +47 98228510, tom@entra.no

ATTACHMENTS

* Download announcement as PDF.pdf

[https://kommunikasjon.ntb.no/ir-files/16126567/191/217/Download%20announceme

nt%20as%20PDF.pdf]