Oslo, August 29th
Key highlights:
Restructuring successfully completed:
Cost base significantly reduced, increasing runway to prove profitability and
growth
Limited financial risk:
No debt and NOK 22.9 million in cash at end of June
Strengthened governance and leadership:
New board, new management team, and new auditor in place - setting the
foundation for strategy execution
Capital raise completed:
NOK 14.4 million raised at NOK 3 per share, combined with a reverse share split
in 1Q, ensure flexibility to pursue growth opportunities
Strategic acquisition:
The purchase of Kuba Norge AS, a leading provider of OHS and HSE solutions to
the Norwegian market, cements the first execution step of the rejuvenated
strategy
Legacy effect managed:
While the 1H 2025 report still reflects some one-off impacts from the
restructuring from the beginning of year, the operational and financial
situation end of period is leaner and more efficient
More information about 1H 2025 and the financials can be found in the attached
report.