Magnora ASA: Last milestone from "the Penguins license contract" is reached
Magnora ASA: Last milestone from "the Penguins license contract" is reached
21.10.2025 10:30:00 CEST | Magnora ASA | Additional regulated information
required to be disclosed under the laws of a member state
This milestone triggers a USD 4.3125 million payment to Magnora, which will be
forwarded to Hermana Holding ASA as part of the demerger transaction in 2024.
While the milestone has a positive impact on Magnora's accounts, it has no cash
flow effect. The eventual recipient of funds will be Hermana Holding ASA. With
the sale of the legacy business in 2018, Magnora no longer has any employees or
activities within its legacy business. Following the demerger of Hermana Holding
ASA in the spring of 2024, the right to legacy royalty and license revenue
streams were transferred to Hermana. Magnora ASA has no ownership interests in
Hermana Holding ASA.
Further information will be given when the payment has been received.
For details on the milestone agreements, please refer to the press release
issued 15.01.2018 by Sevan Marine ASA and 06.12.2022 by Magnora ASA.
CONTACTS
* Erik Sneve, CEO, email: es at magnoraasa.com
ABOUT MAGNORA ASA
Magnora ASA (OSE: MGN) is a renewable energy and infrastructure group engaged in
the development of wind, solar, battery, and data centre projects, and also
operates data centres. The Group has operations in Europe and Africa through the
portfolio companies Magnora Data Center AB, Storespeed AS, Hafslund Magnora Sol
AS, Magnora Offshore Wind AS, Magnora Germany, Magnora Italy Srl, Magnora Solar
PV UK, Magnora South Africa, and AGV. Magnora also has earnout revenues related
to the former portfolio companies Helios Nordic Energy and Evolar. Magnora is
listed on the main list of the Oslo Stock Exchange under the ticker MGN.
ATTACHMENTS
Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17847805/18691250/6492/Download%20announce
ment%20as%20PDF.pdf