Hunter Group ASA: Cancellation of extraordinary general meeting on 15 March 2018

Oslo, 6 March 2018: Reference is made to the notice by Hunter Group ASA ("Hunter Group" or the "Company") on 16 February 2018 regarding the extraordinary general meeting to be held on 15 March 2018.

The Board of Directors of the Company has in its board meeting today decided to cancel the extraordinary general meeting. The reason for the cancellation is documentation received from Apollo Asset Ltd, owned by Arne Fredly, that shareholders holding in excess of 1/3 of the Company's shares will vote against the contemplated transaction with IKM Gruppen AS.

The transaction has therefore in agreement with IKM Gruppen AS been cancelled. The Board of Directors is disappointed to announce the cancellation and continues to believe that the contemplated transaction would have been in the common interest of the Company and its shareholders.

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

For further information, please contact:
Vegard Urnes, interim CEO, +47 90 58 54 32,
Ola Beinnes Fosse, CFO, +47 97 53 12 27,


About Us

The Badger Explorer is a technology for exploring and mapping hydrocarbon resources. The tool is equipped with logging sensors and communication solutions. The tool drills into and buries itself in the underground. It operates at a lower risk, lower costs and less complexity than a drilling rig.