Correction: R-Venture pledges its shares in 24SevenOffice Group AB

Correction of the previously disclosed press release since the information is not regarded as insider information. The MAR-label has therefore been removed from the press release.

R-Venture AS pledges all of its 30 117 217 shares in 24SevenOffice Group AB as collateral security to secure an investment credit of NOK 50 million provided by Pareto Bank ASA. 

The purpose of the credit is to purchase additional 24SevenOffice shares as well as re-purchasing company shares in R-Venture, as R-Venture’s primary exposure is towards 24SevenOffice. 

Stian Rustad, representative of the largest shareholder group in R-Venture AS, states; “in our opinion, the 24SevenOffice share is heavily underpriced compared to competitors, and we strongly believe in 24SevenOffice’s exciting growth journey ahead, both in the Scandinavian and US market”.

R-Venture AS states that the credit line will be used to invest in both listed and non-listed companies that are in line with R-Venture’s long term investing strategy. This also harmonizes well with 24SevenOffice’s ambition to have strong, long term and stable shareholders which can create additional synergies for the company.