Crayon Group Holding — Capital/Financing Update 2021

Jun 28, 2021

Crayon Group Holding ASA: Contemplating potential acquisition and bond issue

Crayon Group Holding ASA: Contemplating potential acquisition and bond issue

Oslo, 28 June 2021 at 08:00 CEST: Crayon Group Holding ASA (Crayon), a globally leading IT advisory firm in software and digital transformation services is pursuing to make an acquisition of a leading player with a similar business model. The potential acquisition is expected to cement Crayon’s position as a global leader in direct and indirect software cloud licensing, Cloud Services, Data and AI, and Software cloud Economics.

Crayon intends to finance the acquisition through a combination of available liquidity, a new 4-year NOK denominated senior unsecured floating rate bond issue and increased credit facilities.

Crayon’s post acquisition pro forma LTM Q1 2021 adj. EBITDA will be approximately NOK 630 million, with a net leverage of around 3.0x.

ABG Sundal Collier and Danske Bank are mandated to arrange a series of fixed income investor calls commencing on 28 June 2021. A 4-year senior unsecured bond issue of NOK 1,800 million may follow, subject to inter alia market conditions.

Further information about the potential acquisition will be made in due course. Completion of the potential acquisition, if successful, is intended to occur in Q3 or early Q4 2021. Upon announcement, the potential transaction will remain subject to conditions to completion, including certain public and third-party approvals. No assurance can be given to the effect that the acquisition will not be delayed or that it will take place at all.

For further information, please contact:

Jon Birger Syvertsen

Chief Financial Officer, Crayon Group Holding ASA

Tel.: +47 97 19 92 51

Email: Jon.Birger.Syvertsen@crayon.com

About Crayon

Crayon Group Holding ASA is a leading IT advisory firm in software and digital transformation services. With unique IP tools and skilled employees, Crayon help optimize its clients' ROI from complex software technology investments. Crayon have long experience within volume software licensing optimization, digital engineering, predictive analytics and assists the clients through all phases of the process of a digital transformation. Headquartered in Oslo, Norway, the company has approximately 2,000 employees in 50 offices worldwide.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation, and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

The stock exchange announcement was published by Jon Birger Syvertsen, Chief Financial Officer, Crayon Group Holding ASA, at the date and time as set out above.