OSLO, NORWAY: Wilh. Wilhelmsen Holding ASA, a leading maritime industry group, has announced its intention to acquire all outstanding shares in Treasure ASA that are not already owned by Wilh. Wilhelmsen Holding. The offer, outlined in the offer document prepared by Wilh. Wilhelmsen Holding, aims to provide a liquidity event for all Treasure shareholders.

The offer period for the acquisition will begin on June 7, 2023, at 09:00 (CEST) and conclude on June 21, 2023, at 16:30 (CEST). Wilh. Wilhelmsen Holding is offering NOK 20 per share, with the settlement expected to take place by July 5, 2023.

Having maintained a shareholding of over 70% in Treasure since before its listing in 2016, Wilh. Wilhelmsen Holding recognizes the relatively low liquidity in Treasure shares on the Oslo Stock Exchange. The acquisition aims to offer shareholders a liquidity event. Depending on the final shareholding and shareholder base after the completion of the offer, Wilh. Wilhelmsen Holding will assess the suitability of continuing the listing of Treasure’s shares on the Oslo Stock Exchange. If the shareholding reaches approximately 90%, a delisting from the exchange may be considered in the long term.

Wilh. Wilhelmsen Holding currently owns 160,000,000 shares in Treasure, representing approximately 77.96% of the outstanding share capital.

Arctic Securities AS is serving as the financial advisor and receiving agent for the Offer, while Advokatfirmaet Wiersholm AS is acting as legal advisor to Wilh. Wilhelmsen Holding.

This acquisition proposal marks an important development in Wilh. Wilhelmsen Holding’s strategic growth plans and aims to provide shareholders of Treasure ASA with increased liquidity and potential long-term value.

Wilh. Wilhelmsen Holding ASA