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Nekkar ASA: Exercise of conversion rights

Reference is made to the bond issue "10.00 per cent TTS Group ASA Convertible Callable Unsecured Subordinated Bond Issue 2011/2016" with ISIN NO 0010593890 (the "Bonds"). Further reference is made to the stock exchange announcement on 27 June 2019 whereby the terms for the conversion rights for the Bonds were amended and to the stock exchange announcement on 31 July 2019 regarding the completion of the Cargotec transaction.

Upon expiry of 15 August 2019, which was the last date on which bondholders could exercise their right to convert the Bonds to shares in Nekkar ASA (the "Company"), the Company had received notices for the conversion of Bonds for a total par value of NOK 84 170 000. The agreed conversion price per share is NOK 4.97, which means that a total number of 16 935 608 new shares in the Company will be issued. The remaining part of the Bonds, having a total par value of NOK 1 875 000, will be repaid in full on 29 August 2019.

Upon completion of the conversion, the new share capital of the Company will be NOK 11 551 108,58, divided into 105 010 078 shares each with a par value of NOK 0.11.

The new share capital of the Company will be registered in the Norwegian Register of Business Enterprises (Nw: "Foretaksregisteret") and delivered and admitted to trading on or about 29 August 2019 in accordance with the terms of the bond loan agreement, as amended.

16 August 2019

Nekkar ASA
www.nekkar.com

Contact person:

Toril Eidesvik
CEO
M: +47 900 78 218



This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act