EDEA Offer - Updated acceptance percentage

EDEA Offer - Updated acceptance percentage

02 Dec 2021 15:42 CET

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED
STATES, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE
DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL

Reference is made to the previous announcements regarding Otovo AS' ("Otovo")
all share offer for all the shares in European Distributed Energy Assets Holding
AS ("EDEA") (the "Offer").

After the deadline expired on 26 November 2021 at 12:00 CET Sparebank1 Markets
acting as Receiving Agent, has received additional acceptances from shareholders
representing 4.90% of the shares in EDEA.

After due consideration, Otovo has decided to accept these, so that the total
acceptance percentage will be 69.80%. Taken together with Otovo's existing
shareholding in EDEA, Otovo will hold 88.43% of the shares in EDEA upon
completion of the Offer.

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About the Offer
The Offer is a share-for-share exchange offer, where Eligible Shareholders (as
defined below) in EDEA are offered 1.7 shares in Otovo (the "Consideration
Shares") for each tendered share in EDEA.
Eligible Shareholders are the EDEA shareholders as of 3 November 2021, as
appearing in the VPS on 5 November 2021, but excluding any shareholders behind
nominee accounts unless Otovo knew the identity of the ultimate shareholder upon
launch of the Offer

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About Otovo: For homeowners, Otovo is the easiest way to get solar panels on the
roof. Otovo is a marketplace that organizes hundreds of local, high-quality, and
qualified energy installers. The company uses its proprietary technology to
analyze the potential of any home and finds the best price and installer for
customers based on an automatic bidding process between available installers.

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details, and more.

More information:
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Source

Otovo AS

Provider

Oslo Børs Newspoint