Reference is made to the mandatory notification of trade, disclosure of large shareholding and mandatory offer from AS Clipper dated 07.03.2017. The board of directors in Solvang ASA is aware of the transaction, and the resulting voluntary offer to be placed within 4 weeks. The board is in the process of hiring independent advisors and will advise the shareholders with respect to the offer well in time before expiry of voluntary offer.
The relevant trade is from a company controlled by the Chairman of Solvang ASA, and as such the advice from the Board of Directors will be subject to the Norwegian Security trading act §6-16 (4), dictating that Oslo stock exchange will make a final ruling on who should advise shareholders on the offer.
Stavanger 7th of March 2017