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Selskabsmeddelelse

MGN: Evaluation of Corporate Structure of the Magnora Group

Magnora
28.8.2023 11:15:01 CEST | Magnora ASA | Non-regulatory press releases

Magnora ASA has decided to evaluate its company structure in order to maximize
value and to further cement the company's standing as a pure-play renewable
energy developer.

As a part of this, the company will initiate a review of its group structure as
a whole with the aim of streamlining its different business segments by way of
an intra-group re-organization. This will include the company's legacy design
business.

In connection with such a potential re-organization, and also in relation to
expressed interest from potential acquirers and investors of the company and its
renewable energy businesses, Magnora's Board has hired Pareto Securities to
assist management and the Board to explore opportunities to enhance shareholder
value, including possible future capital markets and M&A activities and other
corporate initiatives.

CONTACTS

* Erik Sneve, CEO, email: es at magnoraasa.com
* Torstein Sanness, Executive chairman, email: sanness at sf-nett.no

ABOUT MAGNORA ASA

Magnora ASA (OSE: MGN) invests in renewable energy development projects and
companies. Magnora's portfolio of renewable companies consists of Helios Nordic
Energy AB, Kustvind AB, Magnora Offshore Wind AS, Magnora Solar PV UK, Hafslund
Magnora Sol AS, Magnora South Africa, and AGV. In addition, Magnora has legacy
revenues from oil and gas companies using Magnora's legacy hull design and
potential milestone payments from the sale of Evolar AB (sold to First Solar
Inc). The company is listed on the main list on Oslo Stock Exchange under the
ticker MGN.

ATTACHMENTS

Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17847805/2571/3584/Download%20announcement
%20as%20PDF.pdf
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