Nekkar — M&A Activity 2019

Jul 15, 2019

TTS Group ASA: Closing conditions fulfilled - closing of the TTS - MacGregor transaction expected to take place 31 July 2019

TTS Group ASA: Closing conditions fulfilled - closing of the TTS - MacGregor transaction expected to take place 31 July 2019

TTS Group ASA ("TTS") announced on 8 February 2018 that the company had entered

into an asset sale agreement with MacGregor, a subsidiary of Cargotec Oyj listed

on Nasdaq Helsinki Stock Exchange in Finland.

Approval from German and South Korean competition authorities have been

announced previously (6 November 2018 and 27 December 2018 respectively). We

have been informed that the Chinese competition authorities also has approved

the transaction. The parties have therefore agreed to initiate closing

procedures in accordance with the transaction agreement. Closing of the

transaction is expected to take place 31 July 2019. TTS will financially record

the transaction in its 3Q report.

Following closing of the transaction, TTS will immediately settle all bank debt

and overdraft facilities. The company will furthermore redeem remaining

outstanding of its convertible bond according to the bondholder agreement.

The Board of Directors will address the earlier announced dividend payment

during Q3.

Bergen, 15 July 2019

TTS Group ASA

http://www.ttsgroup.com

Contact person:

Toril Eidesvik

CEO

M: +47 900 78 218

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act