Sand Grove boosts Otello stake to over 11% after share redemption

Sand Grove Capital Management LLP has increased its ownership in Otello Corporation ASA to 11.103% of total shares outstanding, up from 9.879% on March 13, 2025. This change became effective on November 20, 2025, following Otello’s redemption of treasury shares, which reduced the total shares outstanding. Sand Grove's aggregate holding now stands at 8,193,278 shares.

The increase in percentage ownership was triggered by the reduction in Otello's total shares outstanding. Sand Grove Capital Management LLP holds these shares through Sand Grove Opportunities AS, the Prelude Structured Alternatives Master Fund LP, and the Amundi Sand Grove Event Driven Fund.

Of the total 8,193,278 shares, Sand Grove Capital Management LLP exercises full voting discretion over 8,100,000 shares. The remaining 93,278 shares are held on swap arrangements. The disclosure obligation arose on November 20, 2025.