Entra

M&A Activity • Dec 21, 2020

Strategic interest in Entra - update from the Board of Directors

Strategic interest in Entra - update from the Board of Directors

21.12.2020 15:37:44 CET | Entra ASA | Additional regulated information required

to be disclosed under the laws of a member state

The board of directors (the "Board") of Entra ASA (the "Company") refers to

earlier announcements regarding the strategic interest in Entra, including the

announcement made by the Company on 14 December 2020 as well as the

announcements made by Castellum Aktiebolag (publ) ("Castellum") and the Company,

respectively, on 18 December.

Following the abovementioned announcement on 14 December, the Board has

facilitated discussions with Castellum as well as other parties. On 18 December,

Castellum announced a revised intended voluntary offer for the Company's shares

(the «Intended Offer»). The Intended Offer remains subject to certain launch

conditions (as described in Castellum's announcement on 26 November of its

initial proposal) and will, according to Castellum´s announcement on 18

December, not be formally made and open for acceptance before on or around 8

January 2021.

"The Board has facilitated discussions with interested parties in recent weeks,

with Castellum announcing a significantly improved proposed offer to our

shareholders, thereby providing support to the Board´s expressed view on the

positive effects on Entra´s value from the revaluation in the Norwegian property

market. In considering its options, the Board notes that neither the launch nor

the completion of the Intended Offer is conditional on any recommendation from

the Board. Further, the Board has reason to believe that other proposals may be

made before 8 January 2021 or by the time where the Board will be required to

provide a recommendation in accordance with statutory law.

Based on the current situation, it is the Board´s view that the best course of

action at this time is to safeguard optionality. The Board will, in the best

common interest of its shareholders and the Company, continue to engage with

relevant parties and facilitate any initiatives that in the view of the Board

could represent an attractive alternative to the strong fundament and

attractions of Entra as an independent company"", says Siri Hatlen, Chair of the

Board of Entra.

Further announcements will be made as and when appropriate.

Shareholders are advised to refrain from taking any action in respect of their

shares in the Company which may be prejudicial to their interests, and to

exercise caution when dealing in the shares of the Company. There can be no

certainty that any offer will be made.

Where relevant, the Board will in due time provide the statutory recommendation

to the Company's shareholders on whether they should or should not accept any

offer that is made and formally launched.

For queries, please contact:

Siri Hatlen, Chair of the Board of Directors, + 47 91744863,

siri.hatlen@gmail.com

Sonja Horn, CEO, +47 90568456, sh@entra.no

Anders Olstad, CFO, +47 90022559, ao@entra.no

DISCLAIMER

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

ATTACHMENTS

* Download announcement as PDF.pdf

[https://kommunikasjon.ntb.no/ir-files/16126567/224/267/Download%20announceme

nt%20as%20PDF.pdf]