HydrogenPro ASA: Reference is made to the stock exchange announcement made by HydrogenPro ASA on 23 December 2024 where it inter alia was announced that the company had entered into an investment agreement regarding a conditional equity investment of approx. NOK 70 million by LONGi Hydrogen Technology (Xi’an) Co., Ltd. (“LONGi Hydrogen”). The company announced that LONGi Hydrogen has obtained a necessary Overseas Direct Investment (ODI) regulatory approval in China to carry out its investment in the company. The investment is expected to be completed by the end of the second quarter.
Pursuant to the investment agreement, LONGi Hydrogen shall subscribe for 12,703,209 new shares in the company at a subscription price of NOK 5.50 per share. The net proceeds to the company from the investment will be used for general corporate purposes.
Completion of the investment remains subject to the board of directors of the company resolving to issue the new shares pursuant to a board authorisation granted at the annual general meeting held on 30 April 2025, as well as registration of the pertaining share capital increase in the Norwegian Register of Business Enterprises.
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Press release https://tinyurl.com/4snpsddu
