R-Venture pledges its shares in 24SevenOffice Group AB

R-Venture AS pledges all of its 30 117 217 shares in 24SevenOffice Group AB as collateral security to secure an investment credit of NOK 50 million provided by Pareto Bank ASA. 

The purpose of the credit is to purchase additional 24SevenOffice shares as well as re-purchasing company shares in R-Venture, as R-Venture’s primary exposure is towards 24SevenOffice. 

Stian Rustad, representative of the largest shareholder group in R-Venture AS, states; “in our opinion, the 24SevenOffice share is heavily underpriced compared to competitors, and we strongly believe in 24SevenOffice’s exciting growth journey ahead, both in the Scandinavian and US market”.

R-Venture AS states that the credit line will be used to invest in both listed and non-listed companies that are in line with R-Venture’s long term investing strategy. This also harmonizes well with 24SevenOffice’s ambition to have strong, long term and stable shareholders which can create additional synergies for the company.

This disclosure contains information that 24SevenOffice Group AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 06-12-2021 10:59 CET.

For further information please contact:

Eirik Aalvik Stranden, CEO

Tel: +47 480 62 383, eas@24sevenoffice.com

24SevenOffice in brief

24SevenOffice's vision is to empower businesses for the future, through delivering world class cloud based business systems. The system is currently used by 66,700 companies, with PwC, among others, as accounting partner. The business system is module-based, where the modules are provided independently or packaged as complete solutions. For more information see www.24sevenoffice.com