Reference is made to the notice to the stock exchange dated 15 March 2022 regarding the acquisition of C H Evensen Industriovner AS.
The transaction has now been completed. Scanship AS, a subsidiary of Vow ASA (“Vow”) has as part of the closing issued a Vendor Note (seller's credit) for NOK 25 million, that immediately upon the issuance was transferred to Vow (as new borrower).
The purpose of the transfer to Vow is to facilitate a possible settlement of the Vendor Note with Vow shares. During the last month before the Vendor Note's settlement date, the Seller will have the right to elect to have the Vendor Note (fully or partially) settled by receiving Vow shares at a price of NOK 25 per Vow share. The Vendor Note shall be settled on 30 May 2023.
For further queries, please contact:
Henrik Badin – CEO
Vow ASA
Tel: +47 90 78 98 25
Email: henrik.badin@vowasa.com
About Vow
Vow and its subsidiaries Scanship and ETIA are passionate about preventing pollution. The company’s world leading solutions convert biomass and waste into valuable resources and generate clean energy for a wide range of industries.
Cruise ships on every ocean have Vow technology inside which processes waste and purifies wastewater. Fish farmers are adopting similar solutions, and public utilities and industries use our solutions for sludge processing, waste management and biogas production on land.
With advanced technologies and solutions, Vow turns waste, biomass, plastics and polymers into recycled advanced carbon materials, low carbon fuels, chemicals, and climate neutral gas for industries to reduce their dependence on fossil energy and petroleum products. The solutions are scalable, standardised, patented, and thoroughly documented, and the company’s capability to deliver is well proven. They are key to end waste and stop pollution.
Located in Oslo, the parent company Vow ASA is listed on the Oslo Stock Exchange (ticker VOW).
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
