2026-02-05 14:54:48
5. February 2026:
Reference is made to previous announcements regarding the restructuring process
in Hynion AS ("Hynion", or the "Company"). Hynion Today announces that its
restructuring process has been successfully completed, with all relevant
agreements signed.
The restructuring as a whole has involved bilateral agreements with a total of
18 creditors and is expected to reduce the Company's totalt liabilities from
approximately NOK 32.7 million to aproximately NOK 2.2 million, following all
debt-to-equity conversions.
The restructuring has been undertaken with support from the Company's creditors
and financed by a third-party investor, ensuring compliance with the Norwegian
Limited Liability Companies Act in all relevant matters.
As part of the restructuring process, the Company has also divested its hydrogen
fueling assets in Porsgrunn to an industrial counterparty. Furthermore the
hydrogen fueling assets in Høvik have been sold to a subsidiary of Hynion,
pending a final sale of the asset, which is currently under legal review by the
buyer and is expected to be signed shortly. The internal transaction is approved
by the landowner in accordance with the applicable lease agreement.
The restructuring will involve a conversion of debt to equity. Further details
regarding such conversion, including transaction terms and pricing, will be
announced to the market in due course, after appropriate resolutions by the
general assembly.
The board of directors expect the conversion to be done at the lower of i) 7-day
volume-weighted average price (VWAP) or ii) a pre-money valuation of NOK 12
million.
General meeting to be convened shortly:
The Company will convene a general meeting to, among other matters, elect a new
auditor, Chair of the board and addopt the necessary corporate resolutions to
enable a finalized solution. The general meeting will be held on Monday, 16.
February, and will be announced in a separate notice.
The auditor is expected to be registered with the Register of Business
Enterprises on the same day. The Company has received support from two financial
investors who will provide a convertible loan or other financial guarantee in
accordance with the requirements set by the new auditor. The final details will
be agreed upon before the general meeting.
Trading in the Company's shares will be halted until the new auditor has been
registered, expected on the 16. February.
For further information, please contact:
Lavrans Grjotheim, CEO
Tel: +47 400 49 141
This information is considered inside information pursuant to the EU Market
Abuse
Regulation and is subject to the disclosure requirements under section 5-12 of
the
Norwegian Securities Trading Act.