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exchange announcement made by HydrogenPro ASA (“HydrogenPro” or the “Company”)
on 19 May 2025 where it was announced that LONGi Hydrogen Technology (Xi’an)
Co., Ltd. (“LONGi Hydrogen”) had obtained a necessary regulatory approval to
carry out its NOK 70 million equity investment in the Company (the “Private
Placement”).
The Private Placement entails issuance of 12,703,209 new shares in the Company
at a subscription price of NOK 5.50 per share, representing approx. 13.3 per
cent of the shares outstanding in HydrogenPro post issuance of the new shares,
raising gross proceeds of approx. NOK 70 million.
In connection with the Private Placement, the board of directors of
HydrogenPro has today resolved to increase the share capital of the Company
with NOK 254,064.18 by the issuance of 12,703,209 new shares, each with a
nominal value of NOK 0.02, pursuant to an authorisation granted by the annual
general meeting held on 30 April 2025. The new shares will be subscribed by a
wholly-owned subsidiary of LONGI Hydrogen.
The net proceeds from the Private Placement will be used for general corporate
purposes. LONGi Hydrogen has agreed to a 6-month lock-up for its shareholding
(subject to customary exemptions).
As resolved by the annual general meeting held on 30 April 2025, the election
of Haimeng Zhang as a board member will take effect once the share capital
increase pertaining to the Private Placement has been registered with the
Norwegian Register for Business Enterprises.
For further information, please contact:
Martin Thanem Holtet, CFO
+47 922 44 902
martin.holtet@hydrogenpro.com
About HydrogenPro:
HydrogenPro is a technology company and an OEM for high pressure alkaline
electrolyzer and supplies large scale green hydrogen plants, all ISO 9001, ISO
45001 and ISO 14001 certified. The Company was founded in 2013 by individuals
with background from the electrolysis industry which was established in
Telemark, Norway by Norsk Hydro in 1927. We are an experienced engineering
team of leading industry experts, drawing upon unparalleled experience and
expertise in the hydrogen and renewable energy industry.
This information has been submitted pursuant to the Securities Trading Act §
5-12 and MAR Article 17. The information was submitted for publication at
2025-05-27 22:28 CEST.
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