Oslo, 20th April 2023: Reference is made to the announcement dated 17 April 2023 regarding inter alia the entry into of an agreement for the sale of the shares held by Quantafuel ASA (the "Company") in Geminor Invest AS ("Geminor") for a total consideration of NOK 80 million (the "Geminor Share Sale"). The Company is pleased to announce that the Geminor Share Sale has been completed.
In connection with the completion of the Geminor Share Sale, the Company and Geminor have entered into an agreement pursuant to which the Company is granted a right to acquire 50% of the shares in Polynate AS from Geminor, with the intention of establishing a 50/50 joint venture between the Company and Geminor to create a trading company for plastics and polymer rich waste fractions.
The completion of the Geminor Share Sale on certain terms is a condition for completion of the recommended voluntary cash offer made by Harald Norway Bidco AS (a wholly-owned subsidiary of Viridor Limited) to acquire all outstanding shares in the Company at an offer price of NOK 6.38 per share on terms and conditions as set out in the Offer Document as announced 2 March 2023. This condition has now been satisfied.
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For further queries, please contact:
Lars Rosenløv, CEO +47 93018040
Christian Bekkevold Nilsen, CFO +47 90277833
About Quantafuel | https://quantafuel.com
Quantafuel is a technology-based energy company converting waste plastics back into low-carbon synthetic oil products replacing virgin oil products. Quantafuel is establishing, operating and owning dedicated plastic-to-liquid (PtL) plants and plans to establish several plants throughout Europe and beyond.
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This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.