Reference is made to the stock exchange announcement published 27th of August
2018, which disclosed an agreement with Endúr Holding AS, who owns 100% of the
oil service company Endúr Fabricom for a merger between the two companies. This
detailed announcement has been prepared and published in accordance with section
3.4 of the Continuing Obligations for Listed Companies.

The company's business:
Endúr Fabricom is a well-established oil service company headquartered in
Stavanger. The company has extensive experience as supplier of maintenance,
modification, installation, fabrication and rebuilding of complex oil and gas
installations both onshore and offshore

February this year, Handeland Industrier AS and Artemes Group AS acquired Endúr
Fabricom, reputable companies with profound industrial experience from
operations in the western part of Norway and the Norwegian offshore industry.
During the past six months, Endúr Fabricom has built a strong order book that
includes framework agreements with AkerBP, ENI Norway and Wintershall, and
signed up individual projects with all leading operators on the Norwegian
continental shelf. The order book as of June 30 2018 is in excess of NOK 900
million. 

After the change of ownership in February this year, the order books have
increased significantly, and the company is in the process of establishing
operational foothold in several important hubs for the oil and gas industry.
Endúr Fabricom engages today approx. 200 employees, including hired personnel.
For further information: www.endur-fabricom.no

The transaction:
The merger is planned to be completed between Endúr Holding AS and Bergen Group
Management AS, which is 100% owned by Bergen Group ASA. The shareholders in
Endúr Holding AS will receive shares in Bergen Group ASA as a merger
consideration. In connection with the merger, an expansion of share capital is
planned for Bergen Group ASA by up to NOK 118.650.000 by issuing up to
118.650.000 shares, each with a nominal value of NOK 1. In addition, there will
be a net cash premium of NOK 7 million.

After completion of the transaction, shareholders in Endúr Holding AS will own
51% of all shares in Bergen Group ASA. The merger does not trigger any mandatory
offer to existing shareholders in Bergen Group ASA. The transaction is expected
to conclude within the end of Q4 2018. 

Proviso:
The merger is subject to relevant decisions at extraordinary general meetings of
the respective companies, as well as no material findings in the ongoing due
diligence. The merger also requires an independent expert fairness statement of
the transaction, including an evaluation of the fair market value of the
exchange terms, of which the merger are based on. The merger agreement has
support from the main shareholders in Bergen Group ASA, representing more than
62% of the shares in the company, as well as 100 % of the owners of Endúr
Fabricom. 

Transaction costs:
Total direct transaction cost beyond the purchase premium are expected to be
limited to MNOK 2.

Significance of the transaction, synergies and future profitability:
Both Bergen Group and Endúr Fabricom have been through extensive restructuring
processes to adapt to a changing market. Each company has established structure
and organization with regard to further growth. 
 
The group appraises the base for improved profitability and increased growth as
strengthened by a merger between the companies, based on the following points: 
-	The merger gives the new company a strengthened ownership and enhanced
industrial competence.
-	The merger increases the company's appeal and competitive power in various
markets where each today has established positions. 
-	The merger will form the base of an industrial group with greater robustness
through presence in several market segments and over a larger geographical area.
-	The merger brings in additional NOK 900 in the order books. This is expected
to trigger positive synergies in relation to the Group's business, both in terms
of more robust capacity utilization of existing facilities and in relation to a
general operational optimization of the production flow and other administrative
resource utilization.
-	The merger is expected to provide increased basis for other indirect
cost-cutting opportunities.


Agreements in connection with the transaction for the benefit of the company's
senior executives or board members: 
There are no agreements in connection with the transaction in favour of the
Group's senior executives or directors, or for senior executives or directors in
the business of the transaction.

As per date, the parties have agreed on chairman Hans Petter Eikeland of Bergen
Group ASA to continue as chairman after the merger has been completed. Further
composition of the Board will be made on extraordinary general meetings of the
companies involved. Any clarifications about top management in the companies
will take place as part of the further process concluding the final merger
agreement.

Order books:
As per 30 June 2018, Bergen Group and Endûr Fabricom had a total order book of
NOK 1.05 billion, of which NOK 903 million is associated with Endùr Fabricom. 
Endùr Fabricom has been awarded contracts for NOK 597 million since the change
of ownership in February 2018. 

The order book also includes contractual framework contracts in both companies.
The value of options related to entered agreements and contracts is not taken
into account in the order backlog. The order book for both companies is expected
to increase further during the second half of 2018.

Financial Information: 
Reference is made to the attachment for complementary financial information. The
tables in the appendix show financial key figures for Endur Fabricom AS and its
subsidiaries. Key figures for the periods 2015 - 2017 are audited figures
obtained from the Group's annual accounts.

In recent years, Endûr Fabricom has been through a comprehensive restructuring
process. This is reflected in the financial key figures. Operations in the group
show total revenues of NOK 133 million in 2017 and NOK 306 million in 2016.
EBITDA before restructuring costs was NOK -4.5 million in 2017 and NOK -17.2
million in 2016. Restructuring costs were NOK 25 million in 2017, NOK 77 million
in 2016 and NOK 27 million in 2015. These costs relate primarily to termination
of personnel and the purchase of leases.


Information Document:
Bergen Group will within 30 trading days of the stock exchange message disclosed
Monday 27 August 2018, publish an information document in accordance with
Continuing Obligations of stock exchange listed companies 


For further information:
CFO Nils Hoff in Bergen Group ASA, phone +47 930 92 3456
SVP Øyvind Risnes in Bergen Group ASA, telephone +47 480 48 561

This information is disclosed in accordance with the Continuing Obligations for
listed companies.