Workflow
Pyrolysis technology
icon
Search documents
Vow ASA โ€“ Vow supports proposed new strategic ownership of VGM with undertaking to tender its shares in the company
Globenewswireยท 2025-05-16 06:23
Core Viewpoint - Vow ASA is involved in a voluntary cash offer by Vow Green Metals AS to acquire its shares, with Vow agreeing to accept the offer for its 24.74% stake in VGM [1][3]. Group 1: Transaction Details - Vow holds 50,173,890 shares in VGM, representing 24.74% of the total issued shares [3]. - Vow has committed to accept the offer for all its shares and will provide a convertible loan of NOK 22.5 million to VGM, maturing on August 1, 2025, with a conversion right at NOK 0.40 per share if the offer does not proceed [3]. - The reduced offer price for Vow's shares in the offer is NOK 0.70 [3]. Group 2: Financial Support and Advisory - Vow has agreed to provide a guarantee of NOK 10 million for VGM related to a new bridge financing facility with DNB Bank ASA [4]. - DNB Carnegie is acting as the financial advisor to Vow, while Wikborg Rein is serving as the legal advisor [4]. Group 3: Company Overview - Vow and its subsidiaries focus on preventing pollution by converting biomass and waste into valuable resources and clean energy [7]. - The company provides advanced technologies that enable industry decarbonization and material recovery, converting various waste types into clean energy and low carbon fuels [8]. - Vow is a leader in wastewater purification and has strong positions in food safety, robotics, and heat-intensive industries with a decarbonizing agenda [9].