2025-08-29 13:59:24
With reference to the announcement of July 8th 2025, entitled “Glex Secures Strategic Investment from Gateway X to Accelerate Global Expansion”, Glex AS hereby notifies that the parties have agreed that 50 % of the renumeration for services from Gateway X in 2025-2026 will be accrued as debt up to a maximum of EUR 200 000. The outstanding liability shall be converted to shares by December 31st 2026.
In addition, CEO Andrew McCann (through his wholly-owned company TAFE Holding AS) has granted Glex AS a convertible loan of MNOK 1.5, which shall be converted to shares by the end of 2025.
Terms and conditions of these loans are market-based and approved by the Board of Glex AS. The transactions are under the authorizations granted to the Board at the Annual General Meeting on 30.06.2025.
The companys full balance sheet and annual report per December 31st 2024 are available at www.glex.com/investor-relations.
About Glex:
Glex AS is a software and data services company that develops advanced integration, visualisation, analysis and collaboration tools for E&P companies to manage and develop their asset portfolios. Our SaaS Glex Energy® has been in development since 2017. The team combines industry professionals with extensive experience and unique domain expertise with data-science experts and software developers with a background in the gaming and visualization industry. Glex is registered on the NOTC.
Contact Glex:
Andrew McCann (CEO) +47 415 07 726
andrew.mccann@glex.no