BERGEN, Norway, March 6, 2025 -- M Vest Water AS (Euronext Growth OSE: MVW),
announces that it has entered into a shareholder loan facility with two of its
main shareholders, pursuant to which the shareholders will make available up
to NOK 12 million.
M Vest Water is experiencing an increase in project activity and demand for
our NORWAFLOC® and NORWAPOL® solutions across all key segments. A tightened
regulatory framework, specifically EU regulations, is a significant driver
behind the increased demand for our natural products and solutions.
Due to the heightened project activity and pilots in collaboration with
industry leaders within our key segments, M Vest Water has decided to finance
the increase in working capital with a credit facility of NOK 12 million. This
credit facility is provided by two main shareholders in the company.
"As we communicated during our Q4 presentation, we are confident in our
current financial situation. Our baseline of recurring revenue, combined with
this credit facility, will support the ongoing increase in our working capital
and project activity", says Executive Chairman Tor Olav Gabrielsen.
The facility is unsecured and contains customary covenants and event of
default provisions. The facility is unsecured and will not be amortizing and
any drawn amounts are to be repaid on or before December 31.12.2025. Amounts
drawn under the facility will carry interest at a rate of NIBOR 3M + 6% per
annum and a commitment fee of 1.5% per annum on any undrawn part of the
facility.
Contact
For further information, please contact:
Morten Hilton Thomassen, CFO
mht@mvestwater.com
+47 92 25 85 70
About Us
M Vest Water is an environmental technology company which has developed unique
products and solutions to the water treatment industry, both Industrial as
well as the Municipal markets. The products are non-toxic, biodegradable and
without any harm to the environment. It obtains the highest degree of
purification in a cost-efficient arrangement.
M Vest Water is listed on Euronext Growth under the ticker MVW.
For more information, visit www.mvestwater.com.
This information has been submitted pursuant to the Securities Trading Act §
5-12 and MAR Article 17. The information was submitted for publication at
2025-03-06 11:45 CET.