Oslo, 23 June 2025. Reference is made to the stock exchange notice from
Norwegian Block
Exchange AS (NBX) on 15 April 2025 regarding the issuance of a debt-to-equity
conversion. The
company has today implemented the transaction, converting approximately NOK 7.95
million of outstanding loan and interest against issuance of 29 454 296 shares.
The following primary insiders and close associates have converted loans:
- Observatoriet Invest AS, a close associate of board member Bjørn Kjos,
has converted certain loans against 14,537,312 shares.
- Board member Vegard Kristiansen has converted certain loans against
7,235,587 shares.
In addition, other minor lenders have converted their loans at the same terms,
and pursuant
to their respective loan agreements.
Please refer to the attached notification of trading for further details.
This information is subject to the disclosure requirements in Article 19 of the
Market Abuse
Regulation and Section 5-12 of the Securities Trading Act.