RE: Insider trading allegations against Ola Rollén in connection to an investment in the Norwegian company NEXT Biometrics ASA (“NEXT”) in October 2015

The Entities Mentioned

  • Greenbridge Partners Ltd (“Greenbridge”): A privately held investment company of which Ola Rollén is one of the primary shareholders.
  • Iskossala Ltd (“Iskossala”): The Rollén family’s private investment vehicle.

Reason for Investment
Greenbridge views the fingerprint sensor market to be an area of strong growth. Mr Rollén gained substantial knowledge about the market, its players and its potential from his investment in Fingerprint Cards AB. The investment made by Greenbridge in NEXT is long term and Greenbridge’s intention is to remain the principal shareholder in NEXT for at least 5 years.

Transaction Facts

  1. Iskossala purchases, on behalf of Greenbridge, 284 341 shares in NEXT on the 6th and 7th of October 2015 over the Oslo Stock Exchange.
  2. On the 8th of October 2015 Iskossala enters, on behalf of Greenbridge, into two agreements. It purchases 333 333 shares from Ecomnex AS, the largest shareholder in NEXT and it subscribes to a rights issue for 2000 000 shares in NEXT.
  3. On the 9th October 2015, NEXT issues a press release stating that it has reached an agreement with Greenbridge regarding the rights issue of 2000 000 shares, the brokerage of another 333 333 shares to be purchased by Greenbridge from Ecomnex AS, and the cessation of a royalty agreement between NEXT and Ecomnex AS.
  4. On the 12th January 2016 Greenbridge is finally incorporated and operationally functional. Iskossala transfers all 2 617 674 shares to Greenbridge at cost plus 5% annualized interest.

The reason that Iskossala bought the shares on Greenbridge’s behalf was simply the fact that Greenbridge was not fully operational until January 2016. Iskossala made its capital, its investment accounts and bank accounts available to Greenbridge for a three-month period against the said 5% annualized interest.

During the transactions, a highly regarded Norwegian law firm advised Iskossala/Greenbridge in the process.

Current Status (as of 7 November 2016)

Ola Rollén is being investigated for the purchase of 284 341 shares in NEXT on the 6th and 7th of October 2015. He has not been indicted. Mr Rollén firmly denies the allegations made by the Norwegian economic crime authority (Økokrim).

Attorney Erik Keiserud, mobile +47 95170947, e-mail ek@hjort.no, Lawyer Christian B. Hjort, mobile +47 91633626, e-mail cbh@hjort.no

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