Reference is made to the notification on 9 October 2018 by Øystein Tvenge, chairman of the board in Hiddn Solutions ASA (the “Company”), and Intelco Concept AS, which is represented on the Company’s board by Øystein Tvenge, regarding transfer of their shareholdings in the Company to a unit-linked life insurance policy with Lombard International Assurance. Mr. Tvenge and Intelco Concept AS has decided to take back the said shares and has today repurchased the shares held through their respective policies.
As a result of the above, Øystein Tvenge has in total repurchased 175,000 shares in the Company from his insurance account at a price per share of NOK 1.18. After this, Mr. Tvenge directly holds 778,200 shares in the Company, equal to approximately 5.4% of the shares in the Company (including the shares subscribed in the resolved, but not yet registered subsequent offering in the Company). Intelco Concept AS has in total repurchased 555,298 shares in the Company from its insurance account at a price per share of NOK 1.2. After this, Intelco Concept AS directly holds 1,794,486 shares in the Company, equal to approximately 12.4% of the shares in the Company (including the shares subscribed in the resolved, but not yet registered subsequent offering in the Company).
In aggregate, Øystein Tvenge and Intelco Concept AS directly holds 2,572,686 shares in the Company, equal to approximately 17.8% of the shares in the Company (including the shares subscribed in the resolved, but not yet registered subsequent offering in the Company). After the transfers described above, Lombard International Assurance no longer holds shares in the Company.