Akastor ASA: Odfjell Drilling Ltd shares received pursuant to Warrant Agreement

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• USA - English

FORNEBU, Norway, May 31, 2024 /PRNewswire/ -- Akastor ASA's (OSE: AKAST) subsidiary Akastor AS has today received 3,023,886 shares in Odfjell Drilling Ltd. (OSE: ODL), pursuant to a warrant investment agreement that was entered into in 2018. The subscription price paid for the shares was USD 0.01 per share. Reference is made to Akastor's announcement 27 April 2018.

The shares received represent a total value of NOK 169 million based on ODL share price at close of trading Thursday 30 May 2024.

The warrant structure carried a book value of NOK 56 million per end of Q1 2024, which will be replaced by the fair value of the received shares in Odfjell Drilling in Akastor's Q2 2024 financials.

For further information, please contact:
Øyvind Paaske
Chief Financial Officer
Tel: +47 917 59 705
[email protected]

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.

Akastor is a Norway-based oil-services investment company with a portfolio of industrial holdings and other investments. The company has a flexible mandate for active ownership and long-term value creation.

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