Income Statement Group

NOTE 29

EVENTS AFTER THE BALANCE SHEET DATE

Aquisition of shares in Plahn Systems A/S:

Infratek Sikkerhet AS entered into an agreement on 10 January 2013 concerning the aquisition of 51 percent of the shares in the Danish security company, Plahn Systems A/S. Total revenue for 2012 ended at DKK 29 millions. The aquisition is strategically important as it establishes Infratek in Denmark. The agreement is in line with the company's Nordic strategy and will also provide growth opportunities for Infratek within other service segments. As a part of the aquisition, there exists both a sales option and a purchase option related to the remaining 49 percent of shares in the company, which fall due in 2018. On the basis of existing options and because Infratek does not have full control over the extent to which non-controlling interest shall be maintained in the future, the purchase is pursuant to IFRS considered as a purchase of 100 percent of the shares, however with an obligation to pay for the remaining 49 percent of shares when the option falls due in 2013.

In accounting terms, the aquisition of Plahn Systems A/S has accordingly been treated as a 100 percent owned subsidiary without non-controlling interest. At the same time, the Group has estimated a future purchase amount concerning the remaining 49 percent of the shares. At the time of the aquisition, this obligation was estimated at approximately DKK 5.8 million in 2018, which is equivalent to approximately DKK 4.7 million when discounted. This obligation is estimated on the basis of pricing mechanisms set forth in the option agreements and the estimate will be followed up quarterly. Any changes in the estimated purchase obligation will be recognized in the profit and loss account for the Group under financial items.

Analysis related to the acquisition of Plahn Systems A/S:

Amounts in NOK million

Purchase 51 % of the shares

Estimated value option remaining 49 %

Total consideration

Fair value aquired net assets

Goodwill

Observable assets and liabilities related to the acquisition per 10 January 2013:

Amounts in NOK million

Fair value

Property, plant and equipment

Inventories

Accounts receivable and other receivables

Cash and cash equivalents

Accounts payable and other current liabilities

Long-term loan

Acquired net assets

The Board and management in Infratek do not know of any other events after the balance sheet date that could effect the profit and loss, balance sheet, cash flow or equity.