13.2.2024 07:00:00 CET |Magnora ASA | Non-regulatory press releases The listing ofMagnora's legacy business is proceeding according to plan. As stated in the 18January 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 theOslo 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 ofMagnora , but establishes a separate legal entity with the legacy contracts and other relevant deferred assets. Secondly, atMagnora'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 inMagnora shareholders receiving shares with an assigned proportion ofMagnora's paid-in capital. The listing is planned forJune 2024 and inter alia requires approval from theOslo Stock Exchange . A listing prospectus describing the listed company and its business, management and governance will be subject to approval by theNorwegian 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 ABOUTMAGNORA 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 ofHelios Nordic Energy AB ,Kustvind AB ,Magnora Offshore Wind AS, Magnora Solar PVUK , Hafslund Magnora Sol AS, Magnora South Africa, and AGV. The company is listed on the main list onOslo 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
Click here for more information
© Oslo Bors ASA, source