Instabank — Delisting Announcement 2022

Sep 30, 2022

Update on the acquisition of Instabank by Lunar

Update on the acquisition of Instabank by Lunar

Reference is made to Instabank ASA's ("Instabank") announcement on 4 August 2022 where Instabank gave an update on Lunar's acquisition of Instabank. In that announcement, Instabank announced that Lunar's management had informed Instabank that it deemed it unlikely that Lunar would be able to raise the required capital and complete the regulatory approval process before the long-stop date for the offer of 30 September 2022.

Despite the deadline not expiring before midnight, Lunar has today announced that Lunar will not complete the transaction. Consequently, the Instabank Shareholders who have tendered their Shares are released from their acceptance of the Offer and the blocking of their Shares will be released. Instabank will continue to assess the situation and any steps to be taken by Instabank to protect the interests of Instabank and its shareholders.