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On 29 August 2024, the board of directors of Aega ASA (the “Company”) resolved a distribution of dividend in kind of up to 23,791,983 shares in Aega AS, a wholly owned subsidiary of the Company, to the shareholders of the Company as of close of trading on the Oslo Stock Exchange on 11 September 2024 (and being registered as such in the Central Securities Depository Euronext Securities Oslo (“VPS”)) as of close of business on 13 September 2024 (The “Record date”), pursuant to VPS’ standard two days’ settlement procedure.
The value of the distribution is NOK NOK 59,479,958, equivalent to NOK 2.50 per share in Aega ASA. Shareholder of the Company will receive one Aega AS share for each share held in the Company as of the Record date. The Aega AS shares are expected to be delivered to the VPS accounts of the relevant Aega ASA shareholders on or about 27 September 2024. The distribution will be regarded as repayment of paid in capital by the shareholders of Aega ASA.
The Company, through its wholly owned subsidiary Aega AS, currently owns 9 operational solar parks and one solar park under development. After the dividend payment, Aega ASA will not own any solar parks but will continue to have operational responsibility and management agreements with the same parks through its wholly owned subsidiary Aega Management AS. In addition, Aega ASA will still hold a stake in Norsk Renewables AS through the Company’s wholly owned subsidiary Aega Investment AS.
The debt in Aega ASA, currently NOK 29,880,000, has been transferred to Aega AS in consultation with the lenders, and Aega ASA will therefore be debt-free after the dividend payment.
The decision was made based on the authorization given by the general meeting on 31 May 2024. The rationale, as stated in the general meeting notice, is that the cash flow generated from the solar parks should be channelled to the owners without the costs associated with the operation of Aega ASA.
For more information or questions contact:
Nils P Skaset
CEO - +47 951 88 154
ceo@aega.no
About Aega
Aega ASA is an energy company listed on Euronext Expand in Oslo. Aega’s main focus is the solar power market. The company acquires and operates smaller existing Italian solar power plants. In addition to being an industrial energy producer we also consider investments in the solar and renewable energy sector. The company’s head offices are in Oslo (NO) and Trento (IT).
For more information, see www.aega.no
IMPORANT NOTICE
These materials do not constitute or form a part of any offer of securities for sale or a solicitation of an offer to purchase securities of any company mentioned in these materials (each an “Issuer” for the purpose of this notice) in the United States or any other jurisdiction. The securities of the Issuer may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”). The securities of the Issuer have not been, and will not be, registered under the U.S. Securities Act. Any sale in the United States of the securities mentioned in this communication will be made solely to “qualified institutional buyers” as defined in Rule 144A under the U.S. Securities Act. No public offering of securities will be made in the United States.
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Matters discussed in this announcement may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as “anticipate”, “believe”, “continue”, “estimate”, “expect”, “intends”, “may”, “should”, “will” and similar expressions. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Issuer believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The information and any forward-looking statements contained in this announcement speak only as of its date, and are subject to change without notice.
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