Nordic Unmanned ASA

M&A Activity • Sep 13, 2023

Nordic Unmanned ASA (NUMND) divests Ecoxy AS

Nordic Unmanned ASA (NUMND) divests Ecoxy AS

13.9.2023 18:08:34 CEST | Nordic Unmanned | Inside information

Nordic Unmanned ASA has entered into a Sales and Purchase Agreement with

Intervest AS for the sale of 100% of the shares in Ecoxy AS for EUR 945 000 in net

cash consideration. The NUMND Group will for Q3 2023 post a financial loss of

net EUR 390 000 from this transaction. The closing of the transaction is effective

as of today, 13. September 2023.

Established in 2002, Ecoxy AS is an independent and accredited competence house

based in Molde, Norway. The company's core business is to undertake verification

of emissions to air such as NOx, HC, CO, CO2, NH3, O2, CH4 and N2O according to

EU regulations. The company's purpose is to help clients identify their

environmental footprint and thus provide insight to contribute to more

sustainable and environmentally friendly operations.

Intervest AS is an investment company based in Horten, Norway, owned by Sverre

Torbjørn Hanssen.

"With reference to earlier stock exchange releases, Nordic Unmanned ASA is

undergoing a strategic review, and sale of non-strategic assets is one of many

elements under consideration. While Ecoxy is a well-established company with a

strong competence base and vital accreditations, our analysis is that we have

not been able to capitalize sufficiently on the perceived synergies between

Ecoxy AS and Nordic Unmanned ASA. As a consequence, it is a better solution for

Ecoxy AS to be taken forward under new ownership with Intervest AS, while at the

same time allowing Nordic Unmanned ASA to further focus its strategy and receive

well-needed liquidity. We thank Intervest AS for a constructive process and wish

both Intervest AS and our colleagues in Ecoxy AS all the best for the future"

says Stig H. Christiansen, CEO, Nordic Unmanned ASA.

DISCLOSURE REGULATION

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 section 5-12 of the Norwegian Securities Trading

Act.

CONTACTS

* Stig H. Christiansen, CEO, Nordic Unmanned ASA, +47 478 07 813,

shc@nordicunmanned.com

* Thomas A. Ladsten, CLO, Nordic Unmanned ASA, +47 99 29 46 02,

tal@nordicunmanned.com

ABOUT NORDIC UNMANNED

Nordic Unmanned is a leading European manufacturer (OEM) and certified operator

of unmanned aircraft systems ("UAS").

We are serving large corporations, government agencies and security customers by

offering systems, solutions and flight services for environmentally friendly

delivery of productivity improvements and time critical, actionable data

insights and logistics services.

Our solutions and services are organized in the three business segments as

follows:

Flight Services: is a technology-agnostic flight services operator providing

time-critical actionable data to large corporate and governmental customers. The

segment also includes Ecoxy AS, NUAer AS and Resale.

AirRobot: is an Equipment Manufacturer (OEM) with a leading product platform in

lightweight drones and sensors (payloads) tailored for defense and security.

DroneMatrix: is an Equipment Manufacturer (OEM) offering a fully integrated and

autonomous drone system with proprietary software for surveillance and security.

Nordic Unmanned is ISO 9001:2015 and ISO 14001:2015 certified for the operation,

maintenance, and sales of unmanned systems and sensor technology. AirRobot is

ISO 9001:2015 and EN 9100:2018 certified for its development and production

capabilities of unmanned systems.

Founded in Norway in 2014, Nordic Unmanned has offices in Sandnes (NO), Molde

(NO), Cranfield (UK), Hasselt (BE) and Arnsberg (GER). Nordic Unmanned also

comprise joint venture - Omni Unmanned SA with OHI Group SA (registered in

Luxemburg) and joint venture - NUAer AS with Aeromon OY (registered in Norway).

For more information visit - https://nordicunmanned.com/

ATTACHMENTS

Download announcement as PDF.pdf -

https://kommunikasjon.ntb.no/ir-files/17847587/2599/3655/Download%20announcement

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