Key Information Relating to the Dividend-in-Kind to Be Paid by Hexagon Composites ASA
November 29, 2020 - Stock Exchange Release
Hexagon Composites ASA (the “Company” or “Hexagon Composites”) announced its intention on August 24, 2020, to spin off Hexagon Purus and apply for Hexagon Purus’ shares to be admitted to trading on Euronext Growth Oslo/Merkur Market, a multilateral trading facility operated by the Oslo Stock Exchange.
On 13 November 2020, the general meeting of shareholders in the Company approved to authorize the Company to distribute shares in Hexagon Purus. On 18 November 2020, the Company announced the approval from bondholders for a distribution of shares of up to 15% of the Company's shares in Hexagon Purus to Hexagon Composites’ shareholders.
Today, the Board passed a resolution approving the distribution of dividends in the form of shares in Hexagon Purus to the Company’s shareholders. Key dates and information related to the dividend-in-kind can be seen below.
Dividend-in-kind amount: 0.15 Hexagon Purus AS shares per Hexagon Composites ASA share
Declared currency: NOK
Last day including right to dividend-in-kind: 3 December, 2020
Ex-date: 4 December, 2020
Record date: 7 December, 2020
Payment date (delivery to VPS accounts): On or about 14 December, 2020
Date of approval: 29 November, 2020
The shares in Hexagon Purus AS are expected to be tradable on Euronext Growth Oslo immediately upon delivery on the payment date.
No fractional shares will be distributed. Hexagon Composites ASA’s holdings of treasury shares will not be eligible for the distribution. The number of Hexagon Purus AS shares to be distributed as dividend-in-kind equals 30,242,956 shares. For eligible shareholders subject to withholding tax ("Withholding Tax Shareholders"), a portion of the dividend shares distributable to such Withholding Tax (“WHT”) Shareholders corresponding to the withholding tax rate registered on such Withholding Tax Shareholders’ VPS account will be withheld (the “Withheld Dividend Shares”) to cover the applicable withholding tax for each WHT Shareholder. The Company will arrange for Withheld Dividend Shares to be sold for payment of the relevant withholding tax. No subsequent settlement towards the shareholders is intended.
This information is published in accordance with the requirements of the Continuing Obligations.
For more information, please contact:
David Bandele, CFO, Hexagon Composites ASA
Telephone: +47 920 91 483 | firstname.lastname@example.org
Karen Romer, SVP Communications, Hexagon Composites ASA
Telephone: +47 950 74 950 | email@example.com
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation, and conversion to clean energy in a wide range of mobility, industrial and consumer applications, including light-, medium- and heavy-duty vehicles, ground storage, distribution, marine, rail and backup power solutions.
About Hexagon Purus AS
Hexagon Purus, a Hexagon Composites company, enables zero emission hydrogen and battery electric mobility for a cleaner energy future. Hexagon Purus is a world leading provider of Hydrogen Type 4 high-pressure cylinders, battery packs and vehicle systems integration for fuel cell electric and battery electric vehicles (FCEV and BEV) including hybrid mobility applications on light, medium and heavy-duty vehicles, transit buses, ground storage, distribution, marine, rail, aerospace and backup power solutions.
Learn more at www.hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn.