Nordic Financials ASA — M&A Activity 2016

Jun 10, 2016

Aega ASA has terminated the negotiations to buy a 14MW solar plant portfolio after due diligence findings

Aega ASA has terminated the negotiations to buy a 14MW solar plant portfolio after due diligence findings

Aega ASA has terminated the negotiations to buy a 14MW solar

plant portfolio after due diligence findings.

Reference is made to the stock exchange release 25 April

2016, where Aega ASA announced a letter of intent to acquire

a company containing a 14 MW solar plant portfolio and EUR

10.7 million in cash from a private equity-firm.

Aega ASA has since then worked extensively on negotiating

the final terms of the transaction and in parallel worked on

the due diligence of the portfolio of solar parks included

in the proposed transaction.

Due to findings in the due diligence process, Aega ASA has

come to the conclusion that it is in the company's best

interest to terminate the negotiations with the seller.

Aega ASA follows a rigorous due diligence process, and a

satisfactory outcome is a prerequisite before going forward

with any investment decision in the company.

The company has currently an extensive pipeline of

attractive potential investments under evaluation and in due

diligence phase. The company do not see investment

opportunities as a limiting factor to the company's growth

plans.

Oslo, 10 June 2016

Aega ASA

For further information, please contact:

Knut Øversjøen, chairman of Aega ASA, tlf: +47 90 86 06 19

Vegard Finstad, CEO of Aega ASA, tlf: +47 911 92 132

About Aega ASA

Aega ASA is a solar utility company acquiring and operating

solar power plants. The company currently owns a portfolio

of five individual solar parks in Italy with a combined

production capacity of 5MW. The company focuses on

acquisitions of smaller existing and operating solar parks

(below 5MW capacity), meeting strict investment criteria

defined by the company. It targets to reach a total

production capacity of 50MW by the end of 2017 and intends

to take advantage of the current attractive market for

secondary solar parks. The company has its operating offices

in Oslo, Norway, and Trento, Italy. The company's shares are

listed on Oslo Axess.