Magnora ASA

Board/Management Information • Aug 28, 2023

Evaluation of Corporate Structure of the Magnora Group

Evaluation of Corporate Structure of the Magnora Group

28.8.2023 11:15:01 CEST | Magnora ASA | Non-regulatory press releases

Magnora ASA has decided to evaluate its company structure in order to maximize

value and to further cement the company's standing as a pure-play renewable

energy developer.

As a part of this, the company will initiate a review of its group structure as

a whole with the aim of streamlining its different business segments by way of

an intra-group re-organization. This will include the company's legacy design

business.

In connection with such a potential re-organization, and also in relation to

expressed interest from potential acquirers and investors of the company and its

renewable energy businesses, Magnora's Board has hired Pareto Securities to

assist management and the Board to explore opportunities to enhance shareholder

value, including possible future capital markets and M&A activities and other

corporate initiatives.

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) invests 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. In addition, Magnora has legacy

revenues from oil and gas companies using Magnora's legacy hull design and

potential milestone payments from the sale of Evolar AB (sold to First Solar

Inc). 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/17847805/2571/3584/Download%20announcement

%20as%20PDF.pdf