Arribatec Group ASA — Director's Dealing 2018

Oct 9, 2018

Mandatory notification of sale

Mandatory notification of sale

Øystein Tvenge, chairman of the board in Hiddn Solutions ASA (the "Company"), has today transferred his direct shareholding in the Company, in total 3,500,000.00 Shares, to a unit-linked life insurance policy (the "Policy") with Lombard International Assurance ("LIA"). On the same background, Intelco Concept AS ("Intelco"), a company owned by Mr. Tvenge and his family, and represented in the board by Mr. Tvenge, has transferred its direct shareholding in the Company, in total 11,105,969 shares, to its Policy with LIA. The shares will be transferred to the LIA Policy accounts of both Mr. Tvenge and Intelco as a premium payment in kind of each Policy at today's closing price of the Company's shares on the Oslo Stock Exchange.

Following the transfer, Mr. Tvenge and Intelco no longer hold shares directly in the Company. Still, Mr. Tvenge will hold preferred claim over LIA for a repayment of the counter value of each Policy. Each Policy being self-managed by Mr. Tvenge, Mr. Tvenge will make the investment decisions for buying or selling the assets held by each Policy. Notwithstanding the aforementioned, LIA will become the legal and beneficial owner of the transferred shares, with all voting rights attaching to them and without any right to Mr. Tvenge or Intelco to instruct LIA with respect to any shareholder rights.