Overview
Announcements

Spin Off | NEL ASA | 10th June 2024

On February 28, 2024, NEL ASA announced its plan to spin-off its fueling division into a separate publicly listed company, named CAVENDISH HYDROGEN ASA, to create two independent pure-play companies aiming to become market leaders in their respective fields. On June 6, 2024, the NEL ASA board of directors resolved this plan, and the Oslo Stock Exchange approved the application of listing for CAVENDISH HYDROGEN ASA. Shareholders of NEL ASA will receive 1 share of CAVENDISH HYDROGEN ASA per every 50 shares of NEL ASA held (Exchange ratio: 0.02). The ex-date for the spin-off has been confirmed to be June 10, 2024. The listing of CAVENDISH HYDROGEN ASA is expected to occur on or about June 12, 2024, subject to timely publication of a listing prospectus to be approved by the Financial Supervisory Authority of Norway, and satisfaction of the conditions for the Listing set by the Oslo Stock Exchange.

  • The spin-off company CAVENDISH HYDROGEN ASA will be added to the Index according to the transaction terms.
  • Effective Date (open): 10/06/2024

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