Announcement • May 30
An undisclosed buyer entered into an agreement to acquire Saga Hotel Oslo Central As from Saga Pure ASA (OB:SAGA) for NOK 140 million. An undisclosed buyer entered into an agreement to acquire Saga Hotel Oslo Central As from Saga Pure ASA (OB:SAGA) for NOK 140 million on May 28, 2026.
The transaction will be settled in cash and is expected to be completed on or about 1 July 2026. Announcement • May 26
Saga Pure Asa Announces Committee Changes Saga Pure ASA held its annual general meeting on May 26, 2026 Dawid Grzebalski was elected as the new chairperson of the nomination committee, replacing Eldar Paulsrud, after which the nomination committee consists of Dawid Grzebalski (chairperson), up to AGM 2027, and Espen Western, up to AGM 2027. New Risk • Feb 26
New major risk - Revenue and earnings growth Earnings have declined by 54% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 54% per year over the past 5 years. Shareholders have been substantially diluted in the past year (39% increase in shares outstanding). Minor Risk Revenue is less than US$5m (kr30m revenue, or US$3.1m). New Risk • Dec 09
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 39% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (60% accrual ratio). Shareholders have been substantially diluted in the past year (39% increase in shares outstanding). Minor Risks Revenue is less than US$5m (kr34m revenue, or US$3.4m). Market cap is less than US$100m (kr921.2m market cap, or US$91.1m). Recent Insider Transactions • Dec 07
Insider recently bought kr101m worth of stock On the 4th of December, Oystein Spetalen bought around 75m shares on-market at roughly kr1.35 per share. This transaction increased Oystein Spetalen's direct individual holding by 5x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr105m more in shares than they have sold in the last 12 months. Announcement • Nov 13
Saga Pure Asa Announces CFO Changes Saga Pure ASA announced the appointment of Eldar Paulsrud as Chief Financial Officer (CFO). The transition follows the decision by Tore Jakob Berg to step down to pursue other opportunities outside of the company. Paulsrud is an experienced finance executive with strong analytical and commercial acumen. He has a background from auditing, banking, and has served as CFO and CEO of a listed shipping company. Paulsrud is a State Authorized Public Accountant and holds a MSc in Business Administration from NHH. Recent Insider Transactions • Oct 07
Insider recently bought kr50k worth of stock On the 3rd of October, Oystein Spetalen bought around 37k shares on-market at roughly kr1.35 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth kr2.1m. Insiders have collectively bought kr3.6m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Sep 23
Insider recently bought kr2.1m worth of stock On the 19th of September, Oystein Spetalen bought around 2m shares on-market at roughly kr1.36 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr2.4m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Sep 14
Insider recently bought kr526k worth of stock On the 10th of September, Oystein Spetalen bought around 390k shares on-market at roughly kr1.35 per share. This transaction amounted to 3.0% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr220k more in shares than they have sold in the last 12 months. New Risk • Aug 28
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 19% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 44% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (19% increase in shares outstanding). Market cap is less than US$100m (kr779.0m market cap, or US$77.4m). Reported Earnings • Aug 27
Second quarter 2025 earnings released: kr0.072 loss per share (vs kr0.022 profit in 2Q 2024) Second quarter 2025 results: kr0.072 loss per share (down from kr0.022 profit in 2Q 2024). Net loss: kr35.0m (down 430% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Announcement • May 26
Saga Pure ASA Approves Board and Committee Elections Saga Pure ASA held its Annual General Meeting on May 26, 2025, announced Eldar Paulsrud was elected as the new chair of the Nomination Committee, replacing Lars Christian Stugaard, and Espen Western was elected as a new member, replacing Geir Johansen. Henrik A. Christensen was elected as the new chairman of the board, with Espen Landmark Fjermestad elected as a board member, both with terms until the annual general meeting in 2027. Kristin Hellebust remains a board member with a term until the annual general meeting in 2026. The Company's Board of Directors consequently consist of: Henrik A. Christensen (chairman), with election term until the annual general meeting in 2027; Espen Landmark Fjermestad, with election term until the annual general meeting in 2027; and Kristin Hellebust, with election term until the annual general meeting in 2026. Recent Insider Transactions • May 13
CFO & Chief Accounting Officer recently sold kr754k worth of stock On the 8th of May, Tore Berg sold around 567k shares on-market at roughly kr1.33 per share. This transaction amounted to 50% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Tore's only on-market trade for the last 12 months. Recent Insider Transactions • May 08
Chairman of the Board recently sold kr306k worth of stock On the 2nd of May, Martin Nes sold around 230k shares on-market at roughly kr1.33 per share. This transaction amounted to 10.0% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Martin's only on-market trade for the last 12 months. Announcement • Mar 05
Saga Pure ASA (OB:SAGA) acquired an additional 2.48% stake in S.D. Standard ETC Plc (OB:SDSD) for NOK 21.32 million. Saga Pure ASA (OB:SAGA) acquired an additional 2.48% stake in S.D. Standard ETC Plc (OB:SDSD) for NOK 21.32 million on March 4, 2025. A cash consideration valued at NOK 1.64 per share will be paid by Saga Pure ASA.
Saga Pure ASA (OB:SAGA) completed the acquisition of an additional 2.48% stake in S.D. Standard ETC Plc (OB:SDSD) on March 4, 2025. Announcement • Nov 27
Saga Pure ASA (OB:SAGA) entered into an agreement to acquire an additional 60% stake in Valhall Fotballhall AS, Vallhall Fotballhall Drift AS and Vallhall Fotballhall KS from Tycoon Industrier AS for NOK 52 million. Saga Pure ASA (OB:SAGA) entered into an agreement to acquire an additional 60% stake in Valhall Fotballhall AS, Vallhall Fotballhall Drift AS and Vallhall Fotballhall KS from Tycoon Industrier AS for NOK 52 million on November 25, 2024.
Completion of the Vallhall agreement is subject to approval by an extraordinary general meeting of the company and other customary closing conditions. Closing of the Vallhall agreement is expected in early January 2025. New Risk • Nov 07
New major risk - Revenue size The company makes less than US$1m in revenue. This is considered a major risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 26% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (kr644.9m market cap, or US$58.9m). New Risk • Feb 16
New major risk - Revenue and earnings growth Earnings have declined by 4.4% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 4.4% per year over the past 5 years. Revenue is less than US$1m (kr106k revenue, or US$10k). Minor Risk Market cap is less than US$100m (kr639.1m market cap, or US$60.8m). Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Director Goril Andreassen was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Nov 09
Investor sentiment improved over the past week After last week's 16% share price gain to kr2.17, the stock trades at a trailing P/E ratio of 3.8x. Average trailing P/E is 9x in the Diversified Financial industry in Europe. Total returns to shareholders of 193% over the past three years. Recent Insider Transactions • Sep 08
Chief Executive Officer recently bought kr199k worth of stock On the 6th of September, Bjorn Simonsen bought around 91k shares on-market at roughly kr2.19 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. This was Bjorn's only on-market trade for the last 12 months. Upcoming Dividend • Aug 30
Upcoming dividend of kr0.10 per share Eligible shareholders must have bought the stock before 06 September 2022. Payment date: 14 September 2022. Payout ratio is a comfortable 35% but the company is not cash flow positive. Trailing yield: 8.3%. Within top quartile of Norwegian dividend payers (7.3%). Higher than average of industry peers (2.8%). Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 2 highly experienced directors. No independent directors (4 non-independent directors). Director Yvonne Sandvold was the last director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Upcoming Dividend • Feb 21
Upcoming dividend of kr0.10 per share Eligible shareholders must have bought the stock before 28 February 2022. Payment date: 07 March 2022. Payout ratio is a comfortable 41% but the company is not cash flow positive. Trailing yield: 6.2%. Within top quartile of Norwegian dividend payers (5.7%). Higher than average of industry peers (2.3%). Upcoming Dividend • Sep 02
Upcoming dividend of kr0.10 per share Eligible shareholders must have bought the stock before 09 September 2021. Payment date: 17 September 2021. Trailing yield: 13%. Within top quartile of Norwegian dividend payers (5.2%). Higher than average of industry peers (2.1%). Recent Insider Transactions • Jul 08
Chief Executive Officer recently bought kr3.4m worth of stock On the 6th of July, Bjorn Simonsen bought around 1m shares on-market at roughly kr3.02 per share. This was the largest purchase by an insider in the last 3 months. This was Bjorn's only on-market trade for the last 12 months. Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment improved over the past week After last week's 28% share price gain to kr3.81, the stock trades at a trailing P/E ratio of 7x. Average trailing P/E is 12x in the Diversified Financial industry in Europe. Total returns to shareholders of 218% over the past three years. Valuation Update With 7 Day Price Move • Mar 23
Investor sentiment improved over the past week After last week's 20% share price gain to kr3.24, the stock trades at a trailing P/E ratio of 5.9x. Average trailing P/E is 12x in the Diversified Financial industry in Europe. Total returns to shareholders of 133% over the past three years. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment deteriorated over the past week After last week's 16% share price decline to kr3.20, the stock is trading at a trailing P/E ratio of 5.9x, down from the previous P/E ratio of 7x. This compares to an average P/E of 12x in the Diversified Financial industry in Europe. Total returns to shareholders over the past three years are 147%. Is New 90 Day High Low • Dec 12
New 90-day high: kr1.90 The company is up 128% from its price of kr0.83 on 11 September 2020. The Norwegian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Diversified Financial industry, which is up 9.0% over the same period. Is New 90 Day High Low • Nov 26
New 90-day high: kr1.50 The company is up 64% from its price of kr0.92 on 28 August 2020. The Norwegian market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Diversified Financial industry, which is up 8.0% over the same period. Is New 90 Day High Low • Oct 20
New 90-day high: kr1.42 The company is up 52% from its price of kr0.94 on 22 July 2020. The Norwegian market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Diversified Financial industry, which is up 2.0% over the same period. 
