Date:September 06, 2023 Announcement no: 27 ISIN: DK0061676400 WPU Ann 27 2023. Purchase of shares, extension of scope of offtake agreement and partial financing for the new facility in Nakskov - successfully completed OnJuly 31, 2023 (announcement no. 23) WPU -Waste Plastic Upcycling A/S (WPU) announced that WPU, certain shareholders and Vitol had entered into certain conditional agreements according to which a ) Vitol would strengthen their equity interest by acquisition of additional 7,668,712 WPU shares ( Shares) from existing shareholders, b) The selling shareholders would provide first tranche of the funding for the future production facility in Nakskov, c) Extension of the offtake agreement and inclusion of production from the additional facilities, sold to Vitol. Accordingly Vitol has acquired the Shares from existing shareholders, increasing its shareholding from approximately 9.4% to 24.7%. The transaction price isNOK 50.00 per share, resulting in a total transaction value of approximatelyNOK 383,435,583 orDKK 250,000,000 . As part of the agreement, Vitol will join the board of directors, leading WPU to publish a call for an extraordinary general meeting. Furthermore, the first tranche of financing for the new production facility in Nakskov has been secured through a subordinated shareholder loan to WPUs subsidiary,Produktionsselskabet WPU Nakskov ApS . Securing the initial part of the financing will facilitate the detailed planning and construction of the new Nakskov Facility. Once operating at full capacity load, the Nakskov Facility is projected to have an operational yearly capacity of upcycling approximately 84,000 metric tons (185,188,300 US pounds). Furthermore, to ensure long-term stability and maximize the benefits of the partnership, the duration of the offtake contracts with Vitol has been extended and expanded. These contracts will now encompass the first 10 facilities, spanning a period of ten years from the initiation of production at each facility. This strategic decision allows for a more secure and mutually beneficial relationship between the parties involved, laying a solid foundation for sustained success and growth in the future. Chairman of the Board Niels Stielund noted, "The remarkable success of adhering to the construction timeline in Faarevejle,Denmark , is truly commendable. Led by CEONiels Bagge and his exceptional team, the seamless launch of the facility at a CAPEX of approximatelyEUR 381 per ton capacity has surpassed external all expectations and underpins the absolute strength of the reliable and robust WPU - advanced batch upcycling technology. This outstanding accomplishment not only reflects the dedication and expertise of the WPU team but also paves the way for an exciting new chapter for the company and its shareholders. The future is indeed bright for WPU as we continue to set new benchmarks in the industry." This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. For further information, contact: Klaus H Lindblad, Vice Chairman, Global Head of IR and Legal, E-mail: KL@WPU-DK.COM. Important notice: This announcement is not and does not form a part of any offer to sell, or a solicitation of an offer to purchase, any securities of the Company. Copies of this announcement are not being made and may not be distributed or sent into any jurisdiction in which such distribution would be unlawful or would require registration or other measures. The securities referred to in this announcement have not been and will not be registered under theU.S. Securities Act of 1933, as amended (the "Securities Act"), and accordingly may not be offered or sold inthe United States absent registration or an applicable exemption from the registration requirements of the Securities Act and in accordance with applicableU.S. state securities laws. The Company does not intend to register any part of the offering inthe United States or to conduct a public offering of securities inthe United States . Any sale inthe United States of the securities mentioned in this announcement will be made solely to "qualified institutional buyers" as defined in Rule 144A under the Securities Act. In any EEA Member State, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Regulation, i.e., only to investors who can receive the offer without an approved prospectus in such EEA Member State. The expression "Prospectus Regulation" means Regulation (EU) 2017/1129 as amended (together with any applicable implementing measures in any Member State. This communication is only being distributed to and is only directed at persons in theUnited Kingdom that are (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order") or (ii) high net worth entities, and other persons to whom this announcement may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). This communication must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this communication relates is available only for relevant persons and will be engaged in only with relevant persons. Persons distributing this communication must satisfy themselves that it is lawful to do so. Matters discussed in this announcement may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe", "expect", "anticipate", "strategy", "intends", "estimate", "will", "may", "continue", "should" and similar expressions. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believe that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict, and are beyond their control. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The Company does not make any guarantee that the assumptions underlying the forward-looking statements in this announcement are free from errors nor does it accept any responsibility for the future accuracy of the opinions expressed in this announcement or any obligation to update or revise the statements in this announcement to reflect subsequent events. You should not place undue reliance on the forward-looking statements in this announcement. The information, opinions and forward-looking statements contained in this announcement speak only as at its date, and are subject to change without notice. The Company does not undertake any obligation to review, update, confirm, or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this announcement. Neither the Manager nor any of its affiliates makes any representation as to the accuracy or completeness of this announcement and none of them accepts any responsibility for the contents of this announcement or any matters referred to herein. This announcement is for information purposes only and is not to be relied upon in substitution for the exercise of independent judgment. It is not intended as investment advice and under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy any securities or a recommendation to buy or sell any securities of the Company. Neither the Manager nor any of its affiliates accepts any liability arising from the use of this announcement. The distribution of this announcement and other information may be restricted by law in certain jurisdictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions. This announcement is an advertisement and is not a prospectus for the purposes of Regulation (EU) 2017/1129 of theEuropean Parliament and of the Council of14 June 2017 on prospectuses to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC (as amended) as implemented in any Member State. This information is considered to be inside information pursuant to the EU Market Abuse Regulation, and is subject of the disclosure requirements of section 5-12 of the Norwegian Securities Trading Act.
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