Hexagon Purus and Mitsui & Co. Ltd. has agreed to amend certain rights to convert or dispose of any of its Convertible Bonds
September 25 2024 - 12:25PM
UK Regulatory
Hexagon Purus and Mitsui & Co. Ltd. has agreed to amend certain
rights to convert or dispose of any of its Convertible Bonds
Reference is made to the convertible loan agreements for the NOK
800,000,000 Senior Unsecured Convertible Bonds 2023/2028 with ISIN
NO 0012851858 (the “First Convertible Bonds”) and the NOK
999,950,000 Senior Unsecured Convertible Bonds 2024/2029 with ISIN
NO 0013106732 (the “Second Convertible Bonds”) (together the
“Convertible Bonds”).
Hexagon Purus ASA ("Hexagon Purus" or the "Company") has today
signed an agreement with Mitsui & Co, Ltd. ("Mitsui") where the
parties have agreed that Mitsui shall not use a right to convert to
ordinary shares or to dispose of any of its Convertible Bonds
without the written consent of the Board of Directors of Hexagon
Purus until the earlier of i) the date on which the Company becomes
profitable on a Profit After Tax (PAT) basis (measured by PAT
attributable to equity holders of the parent in the Company’s group
income statement), and ii) 1 January 2028 for the First Convertible
Bonds and 1 January 2029 for Second Convertible Bonds,
respectively, together referred to as the "Additional Lock-up". The
Additional Lock-up applies to Mitsui only, and the rights for other
holders of the First Convertible Bonds and Second Convertible Bonds
are as per the original convertible loan agreements. The Additional
Lock-up shall not apply in certain events, including the occurrence
of a Corporate Transaction Event (as defined in the terms for the
Convertible Bonds), event of default or tender offer relating to
the Company. The terms of the existing lock-up undertakings
provided by Mitsui outlined in the previous announcements on 1
March 2023 and 20 December 2023 will remain in force.
For more information:
Mathias Meidell, Investor Relations Director, Hexagon Purus
Telephone: +47 909 82 242 |
mathias.meidell@hexagonpurus.com
Salman Alam, CFO, Hexagon Purus ASA
Telephone: +47 476 12 713 | salman.alam@hexagonpurus.com
About Hexagon Purus
Hexagon Purus enables zero emission mobility for a cleaner
energy future. The company is a world leading provider of hydrogen
Type 4 high-pressure cylinders and systems, battery systems and
vehicle integration solutions for fuel cell electric and battery
electric vehicles. Hexagon Purus' products are used in a variety of
applications including light, medium and heavy-duty vehicles,
buses, ground storage, distribution, refueling, maritime, rail and
aerospace.
Learn more at www.hexagonpurus.com and follow @HexagonPurus on X
and LinkedIn.
This information is subject to the disclosure requirements
pursuant to Section 5-12 the Norwegian Securities Trading Act
Hexagon Purus ASA (TG:0QJ)
Historical Stock Chart
From Nov 2024 to Dec 2024
Hexagon Purus ASA (TG:0QJ)
Historical Stock Chart
From Dec 2023 to Dec 2024