Vow ASA: Vow receives settlement for VGM shares and loan repayment
Oslo, 30 June 2025 | Vow ASA (OSE: VOW) is pleased to confirm receipt of settlement for the sale of its shares held in Vow Green Metals AS (“VGM”), and that the convertible loan to VGM has been repaid in full.
Reference is made to the stock exchange announcement published 16 May 2025, stating that Vow ASA (“Vow”, “the Company”) has undertaken to accept the Offer made by Midas Industri AS (“HitecVision”) to acquire all the shares in Vow Green Metals AS (“VGM”).
Today, Vow has received net proceeds of NOK 35.1 million from Midas Industri AS for the 50,173,890 shares Vow held in VGM at the time of the launch of the Offer, reflecting the offer price for its shares of NOK 0.70 per share. The net proceeds have been used for an addition instalment on the term loan in DnB.
Further, the convertible loan of NOK 22.5 million, which was provided to finance the costs relating to VGM's termination with Obligo, has been repaid in full. Vow financed the loan to VGM by way of a loan from DNB in the same amount, which has been settled.
“We congratulate HitecVision with the acquisition of the shares in VGM. VGM remains an important customer of Vow, and we look forward to continued collaboration”, says Gunnar Pedersen, CEO of Vow.
For more information, please contact
Gunnar Pedersen, CEO, Vow ASA
Tel: +47 916 30 304
Email:
Cecilie Brænd Hekneby, CFO, Vow ASA
Tel: +47 992 93 826
Email:
About Vow
Vow and its subsidiaries Scanship, C.H. Evensen and Etia are passionate about preventing pollution. The company's world leading solutions convert biomass and waste into valuable resources and generate clean energy for a wide range of industries.
Advanced technologies and solutions from Vow enable industry decarbonisation and material recovery. Biomass, sewage sludge, plastic waste and end-of-life tyres can be converted into clean energy, low carbon fuels and renewable carbon that replace natural gas, petroleum products and fossil carbon. The solutions are scalable, standardised, patented, and thoroughly documented, and the company's capability to deliver is well proven.
The company is a cruise market leader in wastewater purification and valorisation of waste. It provides technology and solutions which enable industries to transition towards a fossil-free future by converting biomass and waste into valuable resources and clean energy. The company also has strong niche positions in food safety and robotics, and in heat-intensive industries with a strong decarbonising agenda.
Located in Oslo, the parent company Vow ASA is listed on the Oslo Stock Exchange (ticker VOW).
