Solon Eiendom ASA ("Solon" or the "Company") has today entered into an agreement
for the sale of Solon's 49 % stake in Solon Realkapital AS ("Solon Realkapital")
to Vatne Property AS (the "Transaction"). Vatne Property AS is a 100 % owned
subsidiary of Vatne Capital AS (collectively "Vatne Capital") which is fully
owned by Runar Vatne who holds approximately 25 % of the shares in Solon through
Vatne Capital and privately.
 
The sales price for Solon's 49 % stake is Solon's cost price which is based on
fair market value, and will be recorded in Q1 2020. Solon's share of
interest-bearing debt in Solon Realkapital is approximately NOK 40 million.
Closing is expected on 8 january and will provide cash proceeds to Solon of
approximately NOK 7 million. 
 
The Transaction is part of Solon's review of strategic alternatives as announced
in the stock exchange announcement on 7 September 2020. Solon's review of
strategic alternatives continues after the divestment of the stake in Solon
Realkapital.
 
About Solon Realkapital
Solon Realkapital was a 49/51 joint venture between Solon and Vatne Property AS
established to acquire residential apartments in Solon and other residential
developers projects for the purpose of letting and/or resale. Solon
Realkapital's portfolio currently consists of 114 units across three different
Solon projects, whereof 19 units were delivered in Q4 2020 and 95 units will be
delivered when completed.
 
For more information, please contact: 

Andreas Martinussen, Chief Executive Officer
Phone: +47 400 00 405, e-mail: am@soloneiendom.no
 
Scott Danielsen, Chief Financial Officer
Phone: +47 952 55 620, e-mail: sd@soloneiendom.no
 
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

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