17.4.2024 17:44:45 CEST | Magnora ASA | Additional regulated information required to be disclosed under the laws of a member state
The demerger of the Legacy Business has now been registered as completed in the Norwegian Register of Business Enterprises and the Legacy Business has been transferred to an intermediary company. NB: The intermediary company will be merged with the Subsidiary by way of a triangular merger before opening of the market on the Oslo Stock Exchange tomorrow, 18 April 2024.
Reference is made to the announcements published on 18 January 2024 and 19 February 2024 regarding the approval of the demerger plan and a merger plan for the intra-group transfer of the Company's directly owned legacy business (the "Legacy Business"), to a wholly owned subsidiary of Magnora ASA, Project Tripartite 2 AS (the "Subsidiary").
The demerger of the Legacy Business has now been registered as completed in the Norwegian Register of Business Enterprises and the Legacy Business has been transferred to an intermediary company. As a result of the demerger, the share capital of Magnora ASA is reduced by NOK 10,642,035.36 through a reduction of the nominal value of NOK 0.16185155864495 per share. The new share capital of Magnora ASA is NOK 22,233,877.14 and the new nominal value is NOK 0.33814844135505 per share.
The intermediary company will be merged with the Subsidiary by way of a triangular merger before opening of the market on the Oslo Stock Exchange tomorrow, 18 April 2024. The merger will result in the share capital of Magnora ASA being increased by the same amount, whereby the new share capital of Magnora ASA will be NOK 32,875,912.5, consisting of 65,751,825 shares, each with a nominal value of NOK 0.5, i.e., as before the demerger. A separate announcement will be made when the merger has been registered as completed in the Norwegian register of Business Enterprises.
Disclosure regulation
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Contacts
- Erik Sneve, CEO, email: es at magnoraasa.com
About Magnora ASA
Magnora ASA (OSE: MGN) has a legacy royalty business that is re-invested in renewable energy development projects and companies. Magnora’s portfolio of renewable companies consists of Helios Nordic Energy AB, Kustvind AB, Magnora Offshore Wind AS, Magnora Solar PV UK, Hafslund Magnora Sol AS, Magnora South Africa, and AGV. The company is listed on the main list on Oslo Stock Exchange under the ticker MGN.