Brief: Saga Pure To Establish, Subsequently List New Investment Co

Saga Pure ASA

09/11/2022 11:57

Nov 9 (Reuters) - Saga Pure ASA  SAGAS.OL :
    * SAGA PURE: CONTEMPLATING ESTABLISHMENT AND SUBSEQUENT
LISTING OF
NEW INVESTMENT COMPANY
    * NEW COMPANY WILL HAVE NOK 500 MILLION IN EQUITY IN FORM OF
CASH
    * ANNOUNCES INTENTION TO ESTABLISH A NEW INDUSTRIAL
INVESTMENT
COMPANY FOCUSED ON DISTRESSED ASSETS, WITH AMBITION OF A
SEPARATE LISTING ON EURONEXT GROWTH IN Q1 OF 2023
    * NEW COMPANY WILL INVEST IN DISTRESSED ASSETS AND WILL BE
LED BY
HÅKON R. FURE
    * BOARD OF DIRECTORS CONSIDERS COMPANY TO BE OVERCAPITALIZED
AND
PROPOSES TO EXTRAORDINARY GENERAL MEETING (EGM) TO ESTABLISH A
NEW INVESTMENT COMPANY TO INVEST IN DISTRESSED ASSETS
    * FOLLOWING DEMERGER, SAGA PURE WILL RETAIN NOK 280 MILLION
IN
CASH, IN ADDITION TO ITS CURRENT KEY OWNERSHIP POSITIONS IN
HEIMDALL POWER, HORISONT ENERGI, HYON AND IC TECHNOLOGY
    * SAGA PURE WILL REMAIN WELL CAPITALIZED AND WILL CONTINUE
TO LOOK
FOR INVESTMENTS WITHIN GREEN TECHNOLOGIES

Source text for Eikon:  ID:nWkr8Mr8Z3 
Further company coverage:  SAGAS.OL 
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