Oslo, 23 October 2025:
The Board of Directors (the "Board") of Energeia AS (the "Company") has today resolved to propose a share consolidation (reverse split) in the ratio 250:1, whereby 250 existing shares, each with a nominal value of NOK 0.01, will be consolidated into one new share with a nominal value of NOK 2.50. As the Company's shares currently cannot be divided by 250, the Board also proposes a minor share capital increase to ensure that the total number of shares in the Company is dividable by 250.
The proposals will be considered at an Extraordinary General Meeting ("EGM") to be held on 10th November 2025 at 09:30 CET at the Company’s offices, Cort Adelers gate 33, 0254 Oslo.
Background
The Company’s share price has, over time, traded below NOK 1.00. The proposed consolidation is intended to ensure compliance with the original admission requirement regarding minimum share value and to achieve a more appropriate share price level.
Additionally, the Board believes that a reduced number of shares will simplify the capital structure, reduce volatility, and enhance the attractiveness of the share among both existing and new investors.
Key details:
Proposed ratio: 250 existing shares → 1 new share
Nominal value per share after consolidation: NOK 2.50
Share capital after consolidation (following the minor share capital increase): NOK 23,266,472.5, divided into 9,306,589 shares.
Following the proposed 250:1 share consolidation, shareholders holding fewer than 250 shares will not be allocated whole shares and shareholders holding a number of shares that is not dividable with 250, will have their holdings rounded down. Such fractional holdings will lapse without compensation.
Fractional shares will not be issued, and the Board proposes that each fractional share shall be added together and sold on Euronext Growth Oslo with net proceeds from the sale being donated to a charitable purpose.
Further process
The notice of the EGM, including the complete agenda and proposed resolutions, is included in this stock exchange announcement and has been distributed to shareholders and is available on the Company’s website: www.energeia.no.
Following approval by the EGM and registration in the Norwegian Register of Business Enterprises, a new ISIN code will be assigned. Key dates for the consolidation such as last day inclusive , ex-date and record date will be announced in a separate stock exchange notice once determined by the Board.
In addition to the proposed share consolidation, the EGM will address proposal for the election of a new board member. The nomination committee has nominated Stig Myrseth as a new board member.
Stig Myrseth (born 1972) is a Norwegian investor and entrepreneur with experience in finance, technology and business development. He started his career as an equity analyst and later a portfolio manager. Among the companies he has helped to found are the brokerage house Orion Securities, the digital bank Fjord Bank, the management company Dovre Forvaltning, the electric car charging company Amina Charging and the software company Gateway.fm. He currently resides in Malta.
Stig Myrseth has extensive experience as a financial manager and is known for his analysis of the financial markets, and his opinions on specific stocks, bonds and markets are often sought after by investors. Stig Myrseth is also known for his work in consulting for companies, so his expertise can be very useful in strategic decisions that affect the Company's long-term development, especially in a time when economic conditions can be unstable. The Nomination Committee is therefore confident that Myrseth's background in asset management, risk analysis and investment can provide significant value to the Board of Energeia.
For further contact, please contact:
Jarl Egil Markussen, CEO, e-mail: jarl@energeia.no and tel: +47 480 23 214
This information is published in accordance with the continuing obligations as set out in Euronext Growth Oslo Rule Book – Part II and section 5-12 of the Norwegian Securities Trading Act.