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Saga Pure ASA

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Saga Pure ASA: Approval and publication of prospectus

NOT FOR DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

Oslo, 12 January 2021

Reference is made to the stock exchange notices from Saga Pure ASA (the "Company" or "Saga") on 20 October 2020, 30 November 2020, 14 December 2020, 21 December 2020 and 29 December 2020 regarding completed private placements of a total of 183,000,000 new shares in the Company, each with a par value of NOK 0.01 (the "Private Placements"). Reference is also made to the stock exchange notice of 30 December 2020 regarding information on the three subsequent offerings to be carried out following the private placements completed respectively on 14 December 2020, 21 December 2020 and 29 December 2020.

The Financial Supervisory Authority of Norway (Nw. Finanstilsynet) has on 11 January 2020, approved a prospectus prepared by the Company (the "Prospectus") in connection with; (i) Listing of 183,000,000 new shares on Euronext Expand, (ii) the subsequent offering of up to 4,000,000 new shares in the Company, each with a par value of NOK 0.01 and at a subscription price of NOK 2.10 per share (the "Subsequent Offering I"), (iii) the subsequent offering of up to 4,900,000 new shares in the Company, each with a par value of NOK 0.01 and at a subscription price of NOK 2.90 (the "Subsequent Offering II), and (iv) the subsequent offering of 4,800,000 new shares, each with a par value of NOK 0.01 and at a subscription price of NOK 4.10 (the "Subsequent Offering III").

The allocated shares in the Private Placements were settled towards the investors with existing and unencumbered shares in the Company that were already listed on Euronext Expand pursuant to a share lending agreement between the Company's largest shareholder, Øystein Stray Spetalen, and the manager, Fearnley Securities AS. The new shares issued in the share capital increases in connection with the Private Placements were issued to Øystein Stray Spetalen on a separate ISIN and will be converted to the ordinary ISIN of the Company's shares and be tradable as following publication of the Company's prospectus (the "Prospectus"). 

The Prospectus is published today and will, subject to applicable local securities laws, be available at https://transaksjoner.fearnleysecurities.com/ . The Prospectus will also be available at the offices of the Company.

The subscription period for the Subsequent Offerings will commence on Wednesday 13 January 2020 at 09:00 CET and further information will be provided in due course.

For additional information, please contact:

Bjørn Simonsen, CEO, +47 97 17 98 21

Espen Lundaas, CFO, +47 92 43 14 17

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act


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