Brief: Hyon Signs Share Purchase Agreement With Blue Concept Ltd

Knox Energy Solutions AS

31/03/2024 18:08

March 31 (Reuters) - Hyon As  HYON.OL :
    * HYON SIGNS SHARE PURCHASE AGREEMENT WITH BLUE CONCEPT LTD.
    * BLUE CONCEPT WILL SELL ITS 19.5% SHAREHOLDING IN RAPID
AGAINST A
73.8% OWNERSHIP IN HYON IN AN ALL-SHARE TRANSACTION
    * GEIR AUNE WILL ALSO TAKE ON AS ROLE AS CEO
    * SPA IS EXPECTED TO BE CLOSED IN Q2 2024, FOLLOWING WHICH
HYON
INTENDS TO CHANGE ITS NAME TO KNOX ENERGY SOLUTIONS AS
    * BLUE CONCEPT WILL BECOME LARGEST OWNER OF HYON
    * COMPLETION OF TRANSACTION IS CONDITIONAL UPON APPROVAL
FROM
BOARD OF DIRECTORS IN RAPID.
    * HYON  DISCONTINUED OPERATIONS AND WILL IN CONJUNCTION WITH
AGREEMENT WITH BLUE CONCEPT DIVEST ALL ASSETS RELATED TO ITS
CURRENT OPERATIONS TO NORWEGIAN HYDROGEN AS
    * HYON HAS RECEIVED AN ADVANCE PAYMENT FROM NORWEGIAN
HYDROGEN AS
UNDER A SUPPLY AGREEMENT AMOUNTING TO NOK 500,000
    * HYON - AFTER ACQUISITION OF RAPID SHARES FROM BLUE
CONCEPT,OTHER
SHAREHOLDERS IN RAPID SHALL BE OFFERED TO SELL THEIR SHARES
AGAINST RECEIVING HYON SHARES
    * HYON - TOGETHER WITH CONTEMPLATED POTENTIAL ADDITIONAL
ACQUISITION OF SHARES IN RAPID FROM OTHER SHAREHOLDERS ,RAPID
MAY BECOME SUBSIDIARY OF HYON,

Source text for Eikon:  ID:nWkr9Nx4cG 
Further company coverage:  HYON.OL 

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