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    ACC   NO0010890304

AKER CARBON CAPTURE ASA

(ACC)
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Aker Carbon Capture : Baillie Gifford Increases Ownership in Aker Carbon Capture Through a Transaction with Aker Horizons

10/11/2021 | 02:00pm EST
UK fund manager Baillie Gifford Overseas Limited ("Baillie Gifford") has today
increased its shareholding in Aker Carbon Capture ASA from 6.64 percent to 12.59
percent following a transaction with Aker Horizons. 

"Aker Carbon Capture is taking bold steps to accelerate the adoption of CCS, and
the company is fundamental to Aker Horizons' achieving its decarbonization
goals," said Kristian Røkke, Chief Executive Officer of Aker Horizons. "We have
come to know Baillie Gifford as a thoughtful investor with a long-term horizon
in support of companies vital to our future world. We are convinced that they
can contribute to Aker Carbon Capture's development as a front-runner in new
end-markets."

Through the transaction with Aker Horizons, Baillie Gifford Overseas Limited has
acquired 35,900,000 shares in Aker Carbon Capture ASA from Aker Horizons Holding
AS, each at a price of NOK 23.80 per share. Following the transaction, Baillie
Gifford will own a total of 76,051,555 shares in Aker Carbon Capture ASA,
corresponding to an ownership interest of 12.59 percent.

As part of the transaction with Baillie Gifford, Aker Horizons has also agreed
to sell 6,116,807 shares in Aker Carbon Capture ASA to two other institutional
investors at NOK 23.80 per share. As a result, Aker Horizons has sold a total of
42,016,807 shares in Aker Carbon Capture ASA for a total consideration of NOK 1
billion. Following the transactions, Aker Horizons will own 42.33 percent of the
shares and votes in Aker Carbon Capture ASA, through its wholly owned subsidiary
Aker Horizons Holding AS. 

Carbon capture and storage (CCS) is recognized as a key solution for the world
to reach the emissions cuts demanded by the Paris Agreement's goals, and Aker
Carbon Capture is pioneering solutions that increase the accessibility of carbon
capture to a broader range of emitters, including in hard-to-abate sectors such
as cement and waste management.  

Baillie Gifford is a private partnership founded in 1908 and based in Edinburgh
that manages £352bn of assets for their global client base across equity, fixed
income, and multi-asset portfolios, all with a long-term mindset. To find out
more, please visit www.bailliegifford.com.  

Carnegie acted as financial adviser and Advokatfirmaet BAHR acted as legal
adviser for Aker Horizons in the transaction.

This information is subject to the disclosure requirements set out in section
4-2 of the Norwegian Securities Trading Act.

ENDS

Media contact:
Ivar Simensen, mob: +47 464 02 317, email: ivar.simensen@akerhorizons.com

Investor contact:
Christian Yggeseth, mob: +47 915 10 000, email:
christian.yggeseth@akerhorizons.com

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

Stocks mentioned in the article
ChangeLast1st jan.
AKER CARBON CAPTURE ASA -3.77% 29.33 Real-time Quote.64.78%
AKER HORIZONS ASA -4.58% 35 Real-time Quote.0.00%
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Analyst Recommendations on AKER CARBON CAPTURE ASA
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Financials
Sales 2021 343 M 37,7 M 37,7 M
Net income 2021 -177 M -19,5 M -19,5 M
Net cash 2021 1 319 M 145 M 145 M
P/E ratio 2021 -98,0x
Yield 2021 -
Capitalization 17 722 M 1 949 M 1 952 M
EV / Sales 2021 47,9x
EV / Sales 2022 18,2x
Nbr of Employees 26
Free-Float 51,2%
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Number of Analysts 9
Last Close Price 29,33 NOK
Average target price 25,63 NOK
Spread / Average Target -12,6%
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Managers and Directors
Valborg Lundegaard Chief Executive Officer
Egil Fagerland Chief Financial Officer
Henrik O. Madsen Chairman
Jim Stian Olsen Chief Technology Officer
Kristian Monsen R°kke Director
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