Mintra Holding AS - Acquisition of Seably AB

4 July 2023: Mintra Holding AS (OSE:MNTR) ("Mintra" or the "Company") announces that it has entered into a definite Sale and Purchase Agreement (the "SPA") with the owners of the Swedish company Seably AB (the "Target") to purchase 100% of the Target's outstanding shares (the "Acquisition").

Mintra, a leading provider of digital learning and Human Capital Management solutions for the Maritime and Energy industries, today announces it has agreed to acquire Seably, a community driven digital learning marketplace for maritime professionals and WellAtSea, a maritime wellness platform encouraging sustainable lifestyle changes for seafarers. The acquisition highlights Mintra's accelerated growth in the global maritime sector and is the next step in the strategic goal of rapid market share increase.

The purchase price for the Acquisition is based on an enterprise value of approximately SEK 79.7 million and an equity value of SEK 65 million. The purchase price for the Acquisition will be financed as follows: (i)
Approximately NOK 3.81 million by issuing approximately 1.27 million consideration shares in the Company at a subscription price equal to NOK 3.00
(the "Consideration Shares"), and (ii) the remaining amount from existing financing facilities and cash from the Company's balance sheet.

The Consideration Shares are expected to be issued by the Company's board of directors (pursuant to the existing board authorization to issue shares granted by the Company's general meeting on 21 June 2023) in connection with the closing of the Acquisition. If the Consideration Shares are not issued by 31 October 2023, the Company is obliged to pay the amount in cash. Formal closing of the Acquisition is expected to take place ultimo August/primo September 2023.

Advisors

Advokatfirmaet BAHR AS is acting as legal advisor to the Company and Deloitte as financial and tax due diligence advisor.

For further information please contact:

Kevin Short, CEO, Mintra +44 1224 651340 Jostein R. Hufthammer, CFO, Mintra +47 55 98 63 00

About Mintra

Mintra is the provider of global solutions for digital learning, competence and workforce management, primarily for energy, maritime and safety-critical industries. Mintra's portfolio of digital products includes workforce planning, training and skills management. More than 4,000 enterprises trust the company to improve security, increase efficiency and reduce costs. Mintra is an employer of choice and its global team prides itself on the culture of collaboration and exploration to enable the delivery of innovation to its customers. Mintra is headquartered in Bergen, Norway, with offices and operations to support the delivery of on- and offline services to its global customers 24/7.


This information is considered to be inside information pursuant to the EU Market Abuse Regulation ("MAR"), and is subject to the disclosure requirements pursuant to MAR article 17 and Section 5-12 the Norwegian Securities Trading Act.

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