Crayon Group Holding — M&A Activity 2021

Oct 14, 2021

Crayon Group Holding ASA: Update on M&A process

Crayon Group Holding ASA: Update on M&A process

Oslo, 14 October 2021 at 08:00 CEST: Reference is made to the announcement by Crayon Group Holding ASA ("Crayon") on 6 July 2021 regarding Crayon having signed a binding agreement with Rhipe Limited ("Rhipe") for an offer to be made to acquire all shares in Rhipe by way of a Scheme of Arrangement ("Scheme").

Crayon is pleased to provide the following update in relation to the Scheme:

- Following the Scheme Meeting held on Monday 11 October 2021, in which Crayon's acquisition of Rhipe was approved by a majority of 99.88% of votes cast, the Supreme Court of New South Wales on 13 October 2021 made orders approving the Scheme of Arrangement under which Crayon Software Experts Australia Pty Ltd, an indirect wholly-owned subsidiary of Crayon will acquire all the shares in Rhipe.

- On 14 October 2021 Rhipe lodged a copy of the Court´s order with the Australian Securities and Investments Commission, by which the Scheme is now legally effective and the shares in Rhipe were suspended from trading on the ASX with effect from today's closing of trade.

- Crayon's acquisition of Rhipe will, subject to Crayon's payment of the purchase price, be completed on 3 November 2021.

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 2,500 employees in 50 offices worldwide.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.