Vow ASA Announces Rights Issue with Subscription Details

Important Details About Vow ASA's Rights Issue

Vow ASA has taken significant steps towards enhancing its capital structure through a fully underwritten rights issue that aims to raise NOK 250 million. This announcement follows a previous release indicating the same, emphasizing the company’s commitment to leveraging its position in the market.

In a collaborative effort with leading financial institutions including DNB Markets, Pareto Securities, and SpareBank 1 Markets, Vow ASA has set the subscription price for the new shares in the rights issue at NOK 1.50. This pricing reflects a discount of approximately 30% based on the theoretical ex-rights price, calculated from the volume-weighted average price of shares over the last trading days.

Subscription Mechanics of the Rights Issue

The rights issue will see an increase in the company’s share capital by NOK 15,583,333.271 through the issuance of 166,666,666 new shares. This translates to a ratio of approximately 1.464 new shares for every existing share held. Adjustments will be made to the proposed increase in share capital established in the extraordinary general meeting notice dated earlier this month, reflecting the determined subscription price and total number of new shares.

Furthermore, the authorization for the board to issue new shares as part of the compensation for underwriters will also be revised, decreasing significantly from NOK 14,866,399.394 to NOK 926,671.8615. Final determinations regarding the subscription price and total shares issued will be concluded in the upcoming extraordinary general meeting.

Vow ASA: A Leader in Sustainable Solutions

Vow ASA, along with its subsidiaries, is dedicated to addressing environmental challenges. The company has positioned itself at the forefront of preventing pollution through innovative solutions that transform waste and biomass into valuable resources. Their technologies support decarbonization across various industries, facilitating the recycling of materials like plastic waste and sewage sludge.

With a strong foothold in the cruise market for wastewater purification and robust operations in food safety and robotics, Vow ASA is gaining recognition as a central player in sectors that demand eco-friendly practices. The firm’s commitment to scalability and documented efficacy ensures they are well-equipped to meet the increasing demand for sustainable energy solutions.

Company Leadership and Contact Information

Under the leadership of CEO Henrik Badin and CFO Tina Tønnessen, Vow ASA is set to continue its mission of leading environmental change. Interested parties can reach out for more information:

Henrik Badin, CEO, Vow ASA
Tel: +47 90 78 98 25
Email: henrik.badin@vowasa.com

Tina Tønnessen, CFO, Vow ASA
Tel: +47 406 39 556
Email: tina.tonnessen@vowasa.com

Frequently Asked Questions

What is the focus of the rights issue announced by Vow ASA?

The rights issue aims to raise NOK 250 million to strengthen Vow ASA's capital structure.

Who are the managers involved in the rights issue?

DNB Markets, Pareto Securities AS, and SpareBank 1 Markets AS are managing the rights issue.

What is the proposed subscription price for the new shares?

The proposed subscription price for the new shares is NOK 1.50, which represents a discount from the market value.

How many new shares will be issued in the rights issue?

A total of 166,666,666 new shares will be issued, increasing the share capital significantly.

How is Vow ASA contributing to sustainability?

Vow ASA focuses on transforming waste and biomass into clean energy and valuable resources, thus supporting decarbonization efforts across industries.

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