Nekkar — M&A Activity 2016

Aug 15, 2016

TTS Group ASA : Palfinger Marine GmbH has decided not to complete the acquisition of TTS Group ASA.

TTS Group ASA : Palfinger Marine GmbH has decided not to complete the acquisition of TTS Group ASA.

Palfinger Marine GmbH has decided not to complete the planned acquisition of TTS

Group. One of the closing conditions of the acquisition was that Palfinger

Marine GmbH had to get acceptances for at least 90 per cent of the TTS shares on

a fully diluted basis. At the expiry of the acceptance period at 16:30 on

12(th) August 2016 this condition was not fulfilled.

Shareholders that have accepted the offer are released from their acceptances,

and the same applies to bondholders that have entered into separate undertakings

towards Palfinger.

- We are surprised that the transaction will not be completed. We will now fully

concentrate our energy on execute executing our stand-alone strategy. Short term

focus will be on operational efficiency, says Toril Eidesvik, CEO of TTS Group.

Being one of the top three suppliers worldwide in its specialized market

segments - with a particularly strong foothold in a Chinese market that accounts

for 40 per cent of global shipbuilding - TTS is well positioned for future

growth. The company will continue to pursue with full strength its market

strategy to provide complete package solutions for main players within the

industry.

- This means that the strategic process which was announced 12(th) February

2015 has come to an end. In the coming months, we will focus on refining our

strategy and action plans for 2017 and beyond. Our fully committed TTS

colleagues possess unique competence and knowledge and I am sure that they will

do their very best to fulfill TTS Group's potential. The world economy indicates

some rough seas ahead, which makes it even more important than ever to focus on

good work processes and efficient value chains, says Eidesvik.

Bergen, 15(th) August 2016

TTS Group ASA

Tel.: + 47 55 94 74 00

www.ttsgroup.com

Contacts:

Toril Eidesvik

CEO

M: +47 900 78 218

Henrik Solberg-Johansen

CFO

M: +47 982 06 438

Miao Reinlund

SVP Corporate Communications

M: +47 900 65 883

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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