The Private Placement
Through the Private Placement, ANDRITZ will subscribe for 6,605,634 new shares at a subscription price of
In connection with the Private Placement, Andritz has agreed to a 6-month lock-up for its shareholding, subject to customary exemptions. Moreover, Andritz will nominate one candidate to the Company's board of directors for the upcoming general meetings to be held on
The net proceeds to the Company from the Private Placement will be used to finance specific development and testing initiatives within the Company's focus areas, as well as for general corporate purposes.
Share capital increase
In connection with the Private Placement, the board of directors of
Equal treatment considerations
The Private Placement entails a deviation from the shareholders' pre-emptive rights pursuant to Sections 10-4 and 10-5 of the Norwegian Public Limited Companies Act. The Board has carefully considered whether such deviation from the shareholders' pre-emptive rights is in the best interest of the Company and its shareholders, and has concluded that this is the case. Moreover, the Private Placement has been considered by the Board in light of the equal treatment obligations under the Norwegian Securities Trading Act section 5-14, section 2.1 of the Oslo Rule Book II, and Oslo Børs' Circular no. 2/2014, and the Board is of the opinion that it is in compliance with these requirements and guidelines. In reaching these conclusions, the Board inter alia emphasised that the Company by this Private Placement will secure equity required for specific development and testing initiatives within the Company's focus areas, and that the Company by a share issue towards ANDRITZ will be getting a long-term, strategic shareholder who may provide both knowledge and additional capital to the Company. By structuring the equity raise as a private placement, the Company is able to efficiently raise new equity, ensuring improved liquidity and rendering possible completion of plans in line with the Company's strategy. The Board also emphasised that the transaction is supported by the shareholders represented on the board.
Notification of major shareholding
As a result of the Private Placement,
Legal advisors
For further information, please contact:
+47 922 44 902
martin.holtet@hydrogenpro.com
About
About ANDRITZ:
International technology group ANDRITZ offers a broad portfolio of innovative plants, equipment, systems, services and digital solutions for a wide range of industries and end markets. Sustainability is an integral part of the company's business strategy and corporate culture. With its extensive portfolio of sustainable products and solutions, ANDRITZ aims to make the greatest possible contribution to a sustainable future and help its customers achieve their sustainability goals. ANDRITZ is a global market leader in all four of its business areas - Pulp & Paper, Metals, Hydropower and Environment & Energy. Technological leadership and global presence are cornerstones of the group's strategy, which is focused on long-term profitable growth. The publicly listed group has around 30,000 employees and over 280 locations in more than 80 countries.
This information is considered to be inside information pursuant to the EU Market Abuse Regulation (MAR) and is subject to the disclosure requirements pursuant to MAR article 17 and the Norwegian Securities Trading Act sections 4-2 and 5-12.
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