Hexagon Composites ASA Company presentation related to Hexagon Purus spin-off
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, HONG KONG OR JAPAN OR THE UNITED STATES, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.
Reference is made to the stock exchange announcement by Hexagon Composites ASA (“Hexagon” or the “Company”) on 23 October 2020 regarding an update on the process of spinning off Hexagon Purus and having Hexagon Purus’ shares admitted for trading on Euronext Growth Oslo/Merkur Market, a multilateral trading facility operated by the Oslo Stock Exchange.
In preparation for the spin-off process, a company presentation has been prepared. The presentation is attached hereto and will be made available on www.hexagongroup.com.
In recent weeks, Hexagon Purus has completed the steps required to apply for listing on Euronext Growth Oslo/Merkur Market, part of the Oslo Stock Exchange. This includes:
- The agreements and preparatory steps to transfer Compressed Natural Gas Light Duty Vehicle (CNG LDV) activities from Hexagon Purus, to Hexagon’s gas-mobility (g-mobility) business were concluded (reference is made to the stock exchange release on 23 October 2020), establishing Hexagon Purus as a pure e-mobility business.
- An extraordinary general meeting (EGM) in Hexagon Composites ASA on 13 November 2020 authorized the board of directors to approve a distribution of shares in Hexagon Purus to existing Hexagon Composites ASA shareholders.
- Bondholders have given their support the Written Resolution dated 17 November 2020, proposing a waiver from the dividend restriction to enable the transfer of up to 15% of the Company’s shares in Hexagon Purus to the shareholders of the Company, in conjunction with the intended spin off of Hexagon Purus.
- On 23 October 2020, the company announced its intention to raise additional growth capital through a private placement in Hexagon Purus in connection with the listing.
Carnegie AS and Skandinaviska Enskilda Banken AB (publ) have been mandated as financial advisors to support Hexagon in this process. Advokatfirmaet Schjødt AS acts as the Company's legal advisor. Advokatfirmaet Thommessen AS acts as legal advisor to the financial advisors.
For more information, please contact:
David Bandele, CFO, Hexagon Composites ASA
Telephone: +47 920 91 483 | email@example.com