Saga Pure ASA - Preliminary results of mandatory offer by Saga Pure ASA to acquire all shares in S.D. Standard ETC Plc

About this update from S.d. Standard Etc Plc

Saga Pure ASANOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, INTO OR WITHIN CANADA, AUSTRALIA, JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFULReference is made to the mandatory offer by Saga Pure ASA ("Saga Pure" or the "Offeror") to acquire all outstanding shares ("Shares") in S.D. Standard ETC Plc ("SDSD" or the "Company") not already owned by the Offeror, at an offer price of NOK 1.90 per share pursuant to the offer document (the "Offer Document") dated 4 April 2025 (the "Offer"). This action was taken in accordance with the Cypriot Take-Over-Bid Law section 13 as the Offeror and Ferncliff Listed DAI AS (as persons acting in concert, pursuant to the Cypriot Take-Over Bid Law) exceeded a holding of more than 30% of the Shares and voting rights in SDSD, and Saga Pure was therefore obliged to make the Offer.The offer period in the Offer (the "Offer Period") expired at 16:30 (CEST) on 5 May 2025.At the expiry of the Offer Period, the Offeror had received acceptances of the Offer amounting to 231,448,240 Shares, which taken together with the 75,125,280 Shares held by the Offeror held at commencement of the Offer Period equals 306,573,520 Shares, representing approximately 58.5% of the issued share capital and voting rights in the Company. The Offeror together with Ferncliff Listed DAI AS, which held 155,918,109 Shares at the commencement of the Offer Period, is expected to hold a joint total of 462,491,629 Shares, representing approximately 88.2% of the issued share capital and voting rights in the Company, upon completion of the Offer.Please note that the calculation of the number of Shares tendered in the Offer is preliminary and is subject to change until the VPS accounts of the SDSD shareholders having accepted the Offer, are debited and such Shares having been transferred to a settlement account of DNB Markets, a part of DNB Bank ASA (the "Receiving Agent"). Furthermore, the final result of the Offer is subject to customary verification by the Receiving Agent. The final result of the Offer will be announced once confirmed by the Receiving Agent.Settlement of the Offer will be made pursuant to the terms of the Offer Document and will take place no later than 19 May 2025, being fourteen (14) calendar days after the date of expiry of the Offer Period. For further information...

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