Nel ASA: Cavendish Hydrogen ASA applies for admission to trading on the Oslo Stock Exchange – invitation to investor meetings.
Reference is made to the stock exchange announcements by Nel ASA (Nel, OSE: NEL) on February 28, and May 15, 2024 regarding the potential spin-off of Nel’s Fueling division into a separate company, Cavendish Hydrogen ASA (“Cavendish”), and listing of Cavendish’ shares on the Oslo Stock Exchange.
Cavendish has today applied for its shares to be admitted to trading on the Oslo Stock Exchange (the “Listing“). Furthermore, Cavendish will be hosting investor meetings June 3-7, 2024, in addition to a group investor meeting at 14:00 CEST on Thursday June 6, 2024. Anyone wishing to attend can register by contacting one of the Managers (as defined below).
Please refer to the company presentation made available on Cavendish’ website, https://cavendishh2.com/.
The spin-off and Listing are still subject to satisfaction of certain conditions, including inter alia the approval by the Oslo Stock Exchange, satisfaction of any conditions set for such approval, Nel’s Board of Directors resolving to distribute the shares in Cavendish to the shareholders of Nel as dividend in kind, and approval of a listing prospectus by the Financial Supervisory Authority of Norway. Although the spin-off and Listing remain on schedule with regard to Listing by end of Q2 2024, no assurance can be given that it will be completed.
Carnegie AS is acting as global coordinator, and Arctic Securities AS and Fearnley Securities AS as joint lead managers (together the “Managers”) to Nel and Cavendish in connection with the spin-off and Listing.
Register for investor meetings by contacting respective sales representatives at one of the Managers or by sending an email to ca@carnegie.no, events@arctic.com or corp.access@fearnleys.com.
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Nel ASA: Cavendish Hydrogen ASA applies for admission to trading on the Oslo Stock Exchange – invitation to investor meetings. source
