AF Gruppen - Share Issue/Capital Change 2014

Share issue and sale of shares

The Board of Directors of AF Gruppen ASA (AFG) has

decided to go through with the Company's share

purchase program for employees.

507 employees have subscribed a total of 996,245

shares. The shares are subscribed at a price of NOK

58.90 per share, which corresponds to a 20 per cent

discount compared to the average market price during

the subscription period.

In connection with this, the Board has decided to

sell 360,000 of the Company's own shares. The

Company's holding of own shares after this

transaction will be 0 shares.

The Board has also decided to issue 636,245 shares

towards Company employees, in accordance with the

Power of Attorney given by the General Assembly 15

May 2014.

The Company's share capital will increase by NOK

31,812.25 after the issue of 636,245 shares with a

nominal value of NOK 0.05 per share. When the share

issue is completed, the number of shares in AF

Gruppen ASA will be 88,724,904. New share capital in

AF Gruppen ASA will be NOK 4,436,245.20.

The sale and issue of shares is expected to be

completed October 21st 2014.

A new certificate of registration will be submitted

to Oslo Stock Exchange when it is available.

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