Green Hydrogen Systems A/S, a clean technology company and a leading provider of standardised, modular electrolysers for producing green hydrogen based on renewable energy, announces the completion of the reduction in the Company’s nominal share capital. Following the reduction of the Company’s share capital, including the reduction of the nominal value of each share, the Company’s nominal share capital now amounts to DKK 1,877,339.02 with a nominal value per share of DKK 0.01.
The reduction of the Company’s share capital was completed as part of the Company’s preparations for raising new capital to strengthen its capital base and to counter the breach of covenants with existing lenders, as announced on October 9, 2024. The company has, since the announcement, been in close dialogue with its largest shareholders, as well as its existing lenders, to find a solution to the funding requirements. These discussions continue to progress in a constructive manner but requires additional time to conclude.
To secure Green Hydrogen Systems’ funding to continue its operations to at least the end of March 2025, APMH Invest A/S (“A.P. Moller Holding”) and Arbejdsmarkedets Tillægspension (“ATP”), who are among the largest shareholders of the company as well as its two largest existing lenders, have agreed to provide a short-term subordinated fixed loan facility of DKK 80 million expiring on June 30, 2025. This will allow the company more time to realise its commercial prospects and secure the first order(s) for the HyProvide X-series.
Photo of Green Hydrogen Systems A/S
Press release https://tinyurl.com/5cb2bjck
