Two Hynion board members have converted previously issued loans into equity in Hynion AS. The conversion reduces liabilities and reflects continued strong commitment from key stakeholders.
Reference is made to the stock exchange announcement made by Hynion AS (the "Company") on 2 April 2024, regarding the Annual General meeting held on that day where it was announced that the general meeting resolved to, inter alia, grant the Board of Directors an authorization to increase the share capital by up to NOK 267,604 by issuance of new shares. The Board of Directors has today resolved to increase the share capital with NOK 46,457.925 by the issuance of 9,291,585 new shares, each with a nominal value of NOK 0.005.
The resolution was adopted by the Company's Board of Directors in relation to a debt conversion by the Company’s board members, Kurt Dahlberg and Lars Amnell. The Company has issued separate PDMR notifications accordingly. Upon registration of the share capital increase, the Company's registered share capital will be NOK 581,666.26, divided into 116,333,252 shares, each with a nominal value of NOK 0.005.
“This conversion helps strengthen our finances and underlines the continued confidence and long-term engagement of our board – which is especially important in a period where we are navigating challenges and working to reposition the company for the future,” says CEO Slavica Djuric.
As part of its broader strategic activities, Hynion recently signed a non-binding Letter of Intent with the Spanish hydrogen company Coolergy S.L. to explore a potential joint venture aimed at developing hydrogen infrastructure in Northern Europe. The discussions are in an early phase.
Commenting on the recently signed letter of intent, CEO Slavica Djuric says:
“This could turn into an exciting collaboration if everything falls into place. Coolergy’s expertise in liquid hydrogen contributes a valuable perspective as we explore this potential partnership.”
This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.