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Weifa ASA: Weifa acquires leading intimate care brand Asan and launches private
placement

Oslo, 17 December 2015

Weifa  ASA ("Weifa" or the  "Company") has today entered  into an agreement with
Orkla  ASA to acquire Cederroth AS, the company that owns the Norwegian category
leading  intimate  care  brand  Asan  and  its Swedish counterpart Sana (jointly
referred  to  as  "Asan"),  for  a  total  consideration  of NOK 115 million the
"Acquisition").

The  Asan portfolio includes products within  the mild intimate care soap-, body
and  shower-, wet wipes- and fresh categories. The portfolio generated net sales
of  NOK  52.7 million  in  2014 (Norway  and  Sweden  combined).  For  the  Asan
portfolio,  Weifa will  target EBITDA  margin levels  in a  range around Weifa's
current  level, and the transaction  is expected to be  accretive on Weifa's net
profit from the first year of operation.

Asan  holds a leading  position in the  Norwegian market for  intimate care. The
Asan  products have outstanding awareness and loyalty levels among consumers and
Asan  is also a leading  brand in the general  shower category. More than 90 per
cent of Asan's sales are generated in the Norwegian grocery trade.

"The  Asan portfolio  fits perfectly  with Weifa's  current offering of intimate
care  products and  strengthens Weifa's  position as  a leading  Consumer health
company. Weifa is about brand management. Value creation in brand portfolios and
sales  through a network of wholesalers are our core competencies and our normal
line  of business. We are convinced that we  can add value to the Asan portfolio
in the same way that we have done with our flagship brands of Paracet and Ibux",
says Kathrine Gamborg Andreassen, the CEO of Weifa.

Weifa  has  identified  several  areas  where  the  Company can utilize its core
competencies  to develop the  product portfolio further  - both through product-
and channel development. These initiatives include leveraging Weifa's network of
wholesalers,  improve penetration in the pharmacy  channel for the intimate care
category  and  potential  new  innovative  products  based  on the current Weifa
portfolio combined with the Asan product line.

The  acquisition is  in line  with Weifa's  expressed strategy of expanding both
organically  and by M&A,  as well as  the ambition to  establish a Nordic market
position.

The agreement between Weifa and Orkla is subject to the approval of the relevant
competition  authorities, and  the Transaction  is expected  to close in January
2016.

More detailed information about Asan is included in the attached presentation

To  finance the Acquisition, Weifa will effect  a private placement of new shres
directed   towards   Norwegian   and   international   investors  (the  "Private
Placement").  Weifa has retained Carnegie (the "Manager") in connection with the
Private Placement.

In the Private Placement, the Company is offering up to ~119 million new shares,
representing  ~15% of the outstanding  capital in the Company.  The price in the
Private  Placement  will  be  determined  through  an  accelerated  bookbuilding
process.  As part of the closing  conditions for the Acquisition, NOK 60 million
of  the Private Placement have been underwritten  by Watrium AS, Strata Marine &
Offshore AS and Holta Life Sciences AS.

The  bookbuilding period for the Private  Placement opens today at 16:30 CET and
closes  18 December 2015 at  08:00 CET. The  Manager may,  however, at  any time
resolve to close or extend the bookbuilding period at its sole discretion and on
short  notice. The minimum subscription in the Private Placement has been set to
the  number  of  shares  that  equals  an  aggregate  purchase  price of the NOK
equivalent of NOK 1 million.

The  new shares to  be issued in  connection with the  Private Placement will be
issued  based on a  Board authorisation granted  by the Company's annual general
meeting  on 20 May  2015. The waiver  of the  preferential rights  inherent in a
private   placement   is  considered  necessary  to  secure  financing  for  the
Acquisition.

The  Private Placement will be  divided into i) a  Tranche 1 consisting of up to
~79.3 million new shares (representing ~10% of the outstanding capital), and ii)
a  Tranche 2 consisting of up  to ~39.7 million new  shares (representing ~5% of
the outstanding capital).

The  shares allocated in Tranche 1 are expected to be settled through a delivery
versus  payment transaction on a  regular t+2 basis by  delivery of existing and
unencumbered  shares in the  Company that are  already listed on  the Oslo Stock
Exchange pursuant to a share lending agreement between the Company, Carnegie and
Watrium  AS. The Tranche 1 shares are  thus tradable from allocation. The shares
allocated  in Tranche 2 will have payment  date on or about 22 December 2015 and
is  expected  to  be  delivered  on  or  about  23 December  2015 (following the
registration  of  the  share  capital)  by  delivery of non-tradable shares at a
temporary  ISIN. The Tranche 2 shares will be transferred to the regular ISIN of
the  Company  and  be  tradable  upon  the  publication of a listing prospectus,
currently expected to take place in late January / early February 2016.

For further information, please contact:
Kathrine Gamborg Andreassen
CEO
+47 951 78 680
kathrine.gamborg.andreassen@weifa.no

Simen Nyberg-Hansen
CFO
+47 9820 6355
simen.nyberg-hansen@weifa.no

About Weifa:
Weifa is Norway's leading Consumer health company. Weifa supplies pharmaceutical
products and lifestyle products that address the essential needs of consumers,
customers and professional partners. The Company has a strong position in Norway
and is the market leader in pain relief, with well-established brands such as
Paracet and Ibux, and is also present in other key areas such as dietary
supplements and treatment for colds and respiratory problems. Weifa is listed on
the Oslo Stock Exchange and has its head office in Oslo. In 2014, the Group had
a turnover of approximately NOK 316m in 2014 (after adjusting for the divestment
of the B2B business). The company currently has approximately 30 employees.

About Orkla:
Orkla is a leading supplier of branded consumer goods and concept solutions to
the grocery, out-of-home and bakery markets in the Nordics, the Baltics and
selected markets in Central Europe and India. Orkla is listed on the Oslo Stock
Exchange and has its head office in Oslo. In 2014, the Group had a turnover of
NOK 30 billion, and around 13,000 employees at year-end.

 

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


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