Reference is made to previous announcements by Hiddn Solutions ASA (the "Company") regarding a fully underwritten subsequent offering of 25,000,000 new shares in the Company (the "Offer Shares") at a subscription price of NOK 1.20 (the "Offering Price"). On 17 March 2020 it was announced that Tycoon Industrier AS ("TI"), a close associate of Mr Øystein Spetalen, a board member of the Company, was allocated 8,583,929 shares in the subsequent offering pursuant to a subscription guarantee. It was also announced that TI intended to divest minimum such number of shares in the Company which exceeds the mandatory offer threshold within the time prescribed by the Securities Trading Act section 6-9, and that no mandatory offer would be made.
TI has today entered into an agreement to sell 5,800,000 shares in the Company at the Offering Price, following which TI will hold 29,948,617 shares in the Company, representing 33.31% of the total number of shares.