Saga Pure faces shareholder-demanded EGM for investigation into transactions

Saga Pure ASA has received a request from shareholders, representing approximately 6.215% of outstanding shares, to convene an extraordinary general meeting (EGM). The EGM will resolve an investigation into the company's activities pursuant to Section 5-25 of the Norwegian Public Limited Liability Companies Act and will be held within one month.

The investigation will primarily focus on Saga Pure's handling of transactions and share issues between 2023 and 2025. Key areas include property acquisitions from related parties, the use of shares as consideration in such transactions, the setting of issue prices, and the board's assessment of equal treatment for shareholders.

Shareholders also seek an examination of the company's practices regarding management, administration, and cost allocation involving related parties, including whether costs are market-based and at arm's length. Another focus is how the board managed conflicts of interest when the company, major shareholders, board members, or management held simultaneous investments in the same entities.