Back    09.06.09

Notice of purchase of shares and intended offer for all issued shares of Norman ASA

Ola Holding AS (“Ola Holding”) has after market close on 8 June 2009 entered into agreements regarding the purchase of 6,644,162 shares in Norman ASA (“Norman”) representing 67.81 % of the total share capital, partly with deferred settlement.

Ola Holding did previously not hold any shares or rights to shares in Norman.

Ola Holding has furthermore notified the board of directors of Norman that it will make a voluntary cash offer (subject to the mandatory offer rules) for the acquisition of the remaining shares of Norman at a price of NOK 28 per share. An offer document is under preparation and will be distributed to all shareholders as soon as practically possible.

Ola Holding is a newly established holding company owned by FSN Capital III Limited Partnership (“FSN Capital III”). FSN Capital III is a fund of €380 million managed by FSN Capital Partners with focus on Nordic mid cap growth companies with potential for international expansion through organic and acquisitive growth.

Among the sellers of Norman shares to Ola Holding are AS Rams and Jaho AS with 740,000 and 1,211,005 shares respectively, representing all their shares in Norman. AS Rams is wholly owned by the chairman of the Norman board, Svein Ramsay Goli, and associated parties, while Jaho AS is wholly owned by John Arthur Olafsen, a member of the board of directors of Norman and close associate of Berit Aarvaag Stokke, also a member of the board of directors of Norman. AS Rams and Jaho AS will co-invest with FSN Capital III in Ola Holding by delivering their Norman shares, valued at NOK 28 per share, partly against financial instruments issued by Ola Holding.

ABG Sundal Collier is acting as financial advisor and Wiersholm, Mellbye & Bech, advokatfirma AS is acting as legal counsel to Ola Holding.