Brief: Hyon As Says Co Has Received Indication Of Interest From Third Parties Regarding Potential Transactions

Knox Energy Solutions AS

11/09/2023 21:14

Sept 11 (Reuters) - Hyon AS  HYON.OL :
    * HAS RECEIVED INDICATION OF INTEREST FROM THIRD PARTIES
REGARDING
POTENTIAL TRANSACTIONS
    * BOARD OF DIRECTORS HAS RECEIVED INDICATIONS OF INTEREST
FOR
POTENTIAL TRANSACTIONS FROM THIRD PARTIES
    * POTENTIAL TRANSACTIONS ARE INDICATED TO BE STRUCTURED AS A
REVERSE TAKE OVER WITH ISSUANCE OF NEW SHARES BY COMPANY
    * COMPANY REMAINS IN A POSITION WHERE IT HAS AVAILABLE CASH
TO
COVER ITS OPERATIONS TO YEAR-END 2023
    * HYON'S CORE BUSINESS WILL BE CHANGED TO MARKETS UNRELATED
TO ITS
CURRENT BUSINESS
    * VALUATION OF HYON REMAINS SUBJECT TO FURTHER DISCUSSION
    * PURSUING AN ALTERNATIVE TO DISSOLUTION WILL RESULT IN
ADDED
COST, INCREASED RISK OF INSOLVENCY SHOULD SUCCESSFUL TRANSACTION
NOT BE FEASIBLE
    * ITS CURRENT BUSINESS AND TECHNOLOGY ARE EXPECTED TO BE
DISCONTINUED AND POTENTIALLY REALISED TO MAXIMISE SHAREHOLDERS'
VALUE
    * COMPANY REMAINS IN A POSITION WHERE IT HAS AVAILABLE CASH
TO
COVER ITS OPERATIONS TO YEAR-END 2023

Source text for Eikon:  ID:nWkr2rWxZV 
Further company coverage:  HYON.OL 

 ((Reuters.Briefs@thomsonreuters.com;))