OSLO, NORWAY: Questback Group AS, a Norwegian company that owns and operates Questback AS, has signed a term sheet for the sale of 75% of the shares in Questback AS to Precise Credit Solutions, a Luxembourg-based entity that is the main lender under the Company’s bond loan agreement and a minority owner.

The proposed transaction values Questback AS at NOK 340 million.

Precise Credit Solutions has decided to increase its ownership in Questback AS, demonstrating its strong belief in the Company. At the same time, Questback Group AS retains a significant 25% stake and a corresponding upside going forward.

Over the past two years, Questback AS has undergone a successful operational turn-around with an ARR of NOK 128 million, positioning itself for remarkable growth. The proposed transaction secures a sustainable and robust financial solution for Questback AS to continue its upward trajectory.

Saeid Mirzaie, CEO of Questback AS, expressed his excitement, saying, “This is a remarkable milestone in the proposed transaction and demonstrates the Buyer’s confidence in our team and what we do. This transaction will significantly strengthen our ability to continue executing our growth journey.”

Terje Bakken, Chairman of Questback AS and Questback Group AS, added, “This exciting development marks a new chapter for Questback AS, with a strong and supportive partner in Precise Credit Solutions. The enterprise value demonstrates the strong potential and value of our company, even in the face of tough market conditions. We are eager to move forward with the Buyer to negotiate a share purchase agreement in the next step. We expect to complete the proposed transaction during the current quarter.”

The joint ownership of the Company by Questback Group AS and the Buyer will be governed by a shareholders’ agreement between the two parties setting out the terms of their joint ownership on customary terms.

As part of this strategic move, Questback Group AS will retain a 25% stake in Questback AS and intends to apply for a de-listing of the shares from trading on Euronext Growth. A proposal for such de-listing will be presented to the shareholders at the same general meeting, which will also consider the transaction. The reporting and approval of the annual report for the fiscal year 2022, which has been postponed due to the proposed transaction, will be conducted concurrently.

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