18 January 2024: Reference is made to the stock exchange announcement made by Quantafuel AS (the "Company") earlier today regarding the resolution by the Company's extraordinary general meeting to increase the share capital by issuance of new shares to Planets UK Bidco Limited ("Planets UK"), by conversion of loans outstanding under the term loan facility between the Company and Planets UK.
Planets UK, a close associate of Kevin Bradshaw (chair) and Omar Shafi Khan (member) of the board of directors of the Company, has today subscribed for 137,154,510 new shares in the Company at a price of NOK 4.09 per share. Please refer to the enclosed form for further details about the transaction.
Following registration of the share capital increase with the Norwegian Register of Business Enterprises, Planets UK will, directly and indirectly through its wholly-owned subsidiary, Harald Norway Bidco AS, own 275,247,046 shares in the Company, equal to approximately 90.85% of the Company's outstanding shares and votes. Consequently, Planets UK will obtain an ownership of more than 90% of the shares and votes and is expected to resolve a compulsory acquisition of the remaining shares in the Company, cf. section 4-26 of the Norwegian Private Limited Liability Companies Act. Reference is further made to the resolution by the Company's extraordinary general meeting on 12 May 2023 to apply for a delisting of the Company's shares from Euronext Growth Oslo. Further announcements will be made in due course.
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This information is subject to the disclosure requirements in Regulation EU 596/2014 (MAR) article 19 number 3, section 4.3.1 of the Euronext Growth Markets Rule Book Part I and section 5-12 of the Norwegian Securities Trading Act.