Reference is made to yesterday's announcements from Oslo Properties AS, Norwegian Property ASA and Scandic Hotels AB concerning a voluntary offer put forward by Oslo Properties AS for Norgani Hotels ASA.
 
In the presentation of the voluntary offer Oslo Properties AS and Norwegian Property ASA emphasized the importance of the renegotiated rental agreements with Scandic Hotels AB. Oslo Properties AS would like to emphasize that the renegotiated terms form part of a mutually beneficial strategic agreement entered into between Oslo Properties AS and Scandic Hotels AB on an exclusive basis.
 
If the voluntary offer succeeds, Scandic Hotels AB and Oslo Properties AS will renegotiate the rental agreements between Scandic Hotels AB and Norgani Hotels ASA based on the principles set out in the aforementioned strategic agreement.
 
The strategic agreement is the exclusive and non-transferable asset of Oslo Properties AS, and the terms of the agreement do not affect other bidders for Norgani Hotels ASA.
 
Contacts
Norwegian Property ASA;
Petter Jansen (CEO) - +47 90 09 87 28
Scandic Hotels AB;
Frank Fiskers (CEO) - +46 709 73 52 03
Oslo Properties AS;
Jostein Devold (Chairman of the Board) - +47 90880049