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Vow ASA: Vow receives settlement for VGM shares and loan repayment
Globenewswireยท 2025-06-30 14:48
Core Viewpoint - Vow ASA has successfully completed the sale of its shares in Vow Green Metals AS, receiving net proceeds of NOK 35.1 million and fully repaying a convertible loan of NOK 22.5 million [1][2][3] Financial Summary - Vow ASA received NOK 35.1 million from Midas Industri AS for 50,173,890 shares at an offer price of NOK 0.70 per share [2] - The proceeds were utilized for an additional installment on a term loan with DnB [2] - The convertible loan of NOK 22.5 million, used to finance costs related to VGM's termination with Obligo, has been fully repaid [3] Company Operations - Vow ASA focuses on preventing pollution through advanced technologies that convert biomass and waste into valuable resources and clean energy [4][5] - The company is a leader in wastewater purification and valorisation of waste, enabling industries to transition towards a fossil-free future [6] - Vow ASA holds strong positions in food safety, robotics, and heat-intensive industries with a decarbonising agenda [6]