The Board of Directors of Byggma ASA (the "Company" or "Byggma") has been informed that Geir Drangsland and his close associates, who control approx. 88.6% of the shares in the Company (the "Shares"), have decided to initiate a strategic review to explore alternatives which may reduce their shareholding in the Company and thus increase the free float of the Company, secure long term institutional investors and diversify the Company's shareholder base.
Geir Drangsland has been the ultimate majority owner of the Company for more than 20 years and remains highly committed to the Company. Drangsland intends to maintain a controlling interest of more than 50% of the shares in Byggma following any transaction resulting from the strategic review and continue to serve as the Company's CEO.
The Shares are held through Investor AS, Investor 6 AS and Sørlands-Vekst AS.
Geir Drangsland and his close associates have engaged Carnegie AS and Pareto Securities AS as financial advisors to assist the strategic review. Wikborg Rein Advokatfirma AS has been engaged as legal advisor to the selling shareholders and the Company, and Advokatfirmaet Selmer AS has been engaged as legal advisor to the financial advisors. No assurance can be given regarding the outcome or timing of the strategic review.
Furthermore, in light of the abovementioned strategic review, the Company has prepared an updated company presentation, see the attached document.
For further information, please contact:
Geir Drangsland, CEO, tel: +47 928 85 862.
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.
This stock exchange announcement was published by Jens Unhammer, CFO at Byggma ASA on 7 June 2021 at 07:00 CEST.