Jørgen Pleym Ulvness new CEO of Agasti

The board of directors of Agasti Holding ASA has appointed Jørgen Pleym Ulvness as chief executive officer (CEO) with effect from 12thDecember 2013. Ulvness is promoted from his current position as deputy CEO.

Jørgen Pleym Ulvness joined Agasti in September 2012. Prior to this he held positions as managing director, deputy managing director and legal director in First Securities, global head of investment banking in Swedbank, and lawyer at Selmer law firm. Ulvness has extensive experience as business advisor, both domestically and internationally. During the past year Ulvness and departing CEO, Alfred Ydstebø, have developed and established a new business model for Agasti. This model is already delivering good results.

“I look forward to taking on this responsibility, to further develop the group and create attractive opportunities for our customers. We have NOK 57 billion under management for more than 40 000 customers. This represents a significant responsibility but also a very exciting potential. We have, in a Norwegian context, developed a fairly unique tripartite business model, which is thoroughly starting to pay off. However, we also face important choices to ensure the best possible development for the group. I look forward to working closely with the board and all of our skilled employees so that we will continue to deliver on our goals, says Jørgen Pleym Ulvness.

Throughout 2013, Ulvness has gradually taken a greater responsibility for the company’s daily operations. He has also represented Agasti at quarterly results presentations and other important venues. Both the board of directors and the departing CEO supports his appointment.

“Jørgen Pleym Ulvness has extensive experience as a senior executive and advisor in our industry. He has played a crucial part in reorganizing and developing Agasti’s new business model. Ulvness is definitely the right person to develop the company and its activities going forward,” says the Board of Directors in a common statement.

Ydstebø withdraws from Agasti due to his other commitments, but will still be involved in individual projects in Agasti.

“It was necessary that I took responsibility when the company faced significant challenges in 2012, but I was never meant to be a permanent solution. We have now reorganized the company, developed new business areas and are delivering positive financial results for the first time in five years. So the timing is good for change of CEO, and Agasti is in safe hands with Jørgen behind the wheel. Now I want to prioritize some of my other commitments higher. As chairman of Wunderlich, where the highly acclaimed private equity fund Altamont Capital Partners took an ownership stake last week, I have a need to be more present in the United States. In addition, I will follow up my involvement in Base Property closer,” says Alfred Ydstebø.

Contact:

Arne Reinemo, Chairman of the Board, phone +47 915 47 886

Jørgen Pleym Ulvness, CEO, phone +47 906 67 877

Tor Arne Olsen, CCO, phone +47 900 90 470

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act).