Hexagon Composites ASA ("Hexagon") has previously announced that they are evaluating a potential sale of their holding in Comrod Communication ASA ("Comrod"). With the objective of finding an appropriate ownership structure for Comrod, Hexagon and Flakk Holding AS ("Flakk") have both retained Medici Corporate as financial advisor to evaluate available opportunities.

 

Hexagon and Flakk jointly own more than 50% of the shares in Comrod. In the event that one single buyer acquires all Hexagon's and Flakk's shares, the buyer will be required to also make a similar offer to the other shareholders in Comrod ("mandatory offer").

 

Hexagon is still very positive about the development at Comrod, and Hexagon will only consider a sale if the price reflects a fair valuation of Comrod's future business potential.

 

There can be no assurance that a transaction will be entered into or completed as a result of this process. Hexagon and Flakk will each make their own independent decision as to whether or not to sell their shares. The parties do not intend to disclose developments as a result of the ongoing process until the review of a potential transaction is complete.