Magnora ASA

Regulatory Filings • Feb 13, 2024

Update on the listing of Magnora's legacy business

Update on the listing of Magnora's legacy business

13.2.2024 07:00:00 CET | Magnora ASA | Non-regulatory press releases

The listing of Magnora's legacy business is proceeding according to plan.

As stated in the 18 January stock exchange notice, Magnora's board of directors

resolved to assign the legacy business to a separate legal entity with an

expanded business and growth scope. Magnora also communicated an intention to

spin off legacy business to shareholders and establish a new listed company on

the Oslo Stock Exchange.

The plan requires shareholder approval in two steps. First, at an extraordinary

general meeting of shareholders called for 19 February which has been asked to

approve a demerger and a merger. This initial transaction will not result in any

direct changes for the shareholders of Magnora, but establishes a separate legal

entity with the legacy contracts and other relevant deferred assets.

Secondly, at Magnora's annual general meeting of shareholders on 23 April,

shareholders will be invited to approve a second demerger of the legacy business

which will result in Magnora shareholders receiving shares with an assigned

proportion of Magnora's paid-in capital.

The listing is planned for June 2024 and inter alia requires approval from the

Oslo Stock Exchange. A listing prospectus describing the listed company and its

business, management and governance will be subject to approval by the Norwegian

Financial Supervisory Authority, and is expected to be published shortly before

the first day of trading.

CONTACTS

* Erik Sneve, CEO, email: es at magnoraasa.com

* Torstein Sanness, Executive chairman, email: sanness at sf-nett.no

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.

ATTACHMENTS

Download announcement as PDF.pdf -

https://kommunikasjon.ntb.no/ir-files/17847805/2907/4071/Download%20announcement

%20as%20PDF.pdf