Fredag 14 Mars | 13:58:00 Europe / Stockholm
2025-03-04 12:23:28
4 March 2025: Reference is made to the stock exchange announcements made by
Endúr ASA ("Endúr" or the "Company") on 10 February 2025 regarding Endúr's
contemplated acquisitions of 100% of the shares in Total Betong AS, Igang
Totalentreprenør AS, and Habto Holding AS, including 100% of the shares in HAB
Construction AS and between 51% and 100% of the shares in ProPoint Survey AS
(jointly, the "Totalbetong Acquisitions"), and on 11 February 2025 regarding the
successful placement and conditional allocation of 4,861,111 new shares in Endúr
(the "Offer Shares"), at a subscription price of NOK 72.00 per Offer Share (the
"Offer Price") raising gross proceeds of NOK ~350 million (the "Private
Placement"), with the assistance of Arctic Securities AS and Danske Bank,
Norwegian branch (together, the "Managers").

Reference is further made to the Company's announcement earlier today regarding
the resolutions by the extraordinary general meeting of Endúr to inter alia
issue (i) the Offer Shares, (ii) 125,000 new shares to Kverva Finans AS
("Kverva") as settlement of its entitlement to underwriting commission pursuant
to the subscription and underwriting agreement entered into with Endúr on 10
February 2025 (the "Underwriting Shares"), and (iii) 215,500 new shares
following the exercise of share options by certain members of the Endúr's board
of directors (the "Board") and other employees on 10 February 2025 (the
"Incentive Shares"). The share capital increases pertaining to the issuance of
the Offer Shares, the Underwriting Shares, and the Incentive Shares, are
together referred to as the "Share Capital Increases".

The following primary insiders of Endúr and close associates have been allocated
Offer Shares at the Offer Price in the Private Placement as follows:

- Kverva, close associate of Børge Klungerbo (Board member), has been allocated
3,472,223 Offer Shares and been issued 125,000 Underwriting Shares. Furthermore,
as announced on 10 February 2025, Kverva has agreed to acquire 527,778 existing
shares from Artec Holding AS, and 166,667 existing shares from Bever Holding AS
at the Offer Price (together, "Share Sale"), which will result in Kverva holding
4,291,668 shares, equivalent to ~9.99% of the shares and votes in Endúr (prior
to the issuance of the consideration shares in the Totalbetong Acquisitions).
Consequently, Kverva has crossed above the 5% threshold pursuant to section 4-2
of the Norwegian Securities Trading Act. Kverva is 100% owned by Kverva AS and
is ultimately controlled by Gustav Witzøe. Kverva does not have any rights to
further shares or votes in the Company