HOC: Proposed distribution of shares in House of Control Group to the investors of Viking Venture 7 AS, Viking Venture 7b AS and Viking Venture 8 AS
Each of the board of directors of Viking Venture 7 AS, Viking Venture 7b AS and
Viking Venture 8 AS (collectively the "VV Investment Vehicles"), has today
resolved to propose to their respective general meetings to distribute shares in
House of Control Group AS (the "Company") owned by the VV Investment Vehicles to
the respective investors in the VV Investment Vehicles.
The VV Investment Vehicles own in aggregate 14,021,600 shares in the Company,
representing approximately 24.6% of the shares. The general meetings are
expected to be held on or about 5. July 2022. Subject to completion of the
proposed distributions, it is expected that Viking Venture AS will own
approximately 4% of the shares in the Company. Viking Venture AS is the
investment manager of the VV Investment Vehicles and is also a shareholder in
all of the VV Investment Vehicles.
The distributions have been proposed as a result of the intended lifetime of the
VV Investment Vehicles. Viking Venture AS and the board of directors of each of
the VV Investment Vehicles are on this background of the view that each of the
investors in the VV Investment Vehicles shall be allowed to decide themselves on
their holding period in the Company.
Viking Venture AS wants to emphasize that the proposed distributions do not
represent any changed view of the Company by Viking Venture AS, and that such
proposals solely are a result of the intended lifetime of the VV Investment
Vehicles. Viking Venture AS' belief in the Company continues to be strong, and
Viking Venture AS' support and shareholding in the Company will remain
unchanged. Further, Viking Venture AS' two representatives at the board of
directors of the Company, Mr. Jostein Vik and Mr. Erik Fjellvær Hagen, are still
committed to support and serve as chairman of the board and board member of the
For more information, please contact:
Erik Hagen, Chairman Viking Venture 7 AS, Viking Venture 7b AS and Viking
Phone: +47 920 22 430
Email: [email protected]
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to section 5-12 of the Norwegian Securities Trading Act.
This stock exchange announcement was published by Carl Fabian Flaaten, CFO, on
28. June 2022, at 08.30.