Sale of Kvantel AS successfully completed

Oslo, 29 June 2018. With reference to the previously announced sale of all the shares in Kvantel AS (the "Transaction"), NextGenTel Holding ASA (the "Company") hereby confirms that the Transaction today has been successfully completed. Net proceeds from the Transaction will be used to repay the Company's long term bank debt in full, and also to pay outstanding tax debt. The Board of Directors will consider a potential extraordinary dividend in due course.