Vow Green Metals AS and Midas Industri AS (the “Offeror”), a newly incorporated Norwegian private limited liability company indirectly owned by HitecVision New Energy Fund 2 SCSp and established for the purpose of making the Offer, announced on the 16.05.2025 that they have entered into a transaction agreement (the “Transaction Agreement”) for an unregulated recommended voluntary tender offer to acquire all issued and outstanding shares in Vow Green Metals AS except for Shares owned by the Rollover Shareholders (Vardar AS and Skagerak Energipartner AS, together representing 18.53% of the outstanding share capital).
A cash consideration of NOK 0.95 will be offered for each Share. The Offer Price represents a premium of 73% compared to the closing price 15.05.2025 and 57% compared to the 30-day VWAP from the same date.
For further information regarding the Offer and Offer Period, see company press release: https://newsweb.oslobors.no/message/646641
and,
https://newsweb.oslobors.no/message/646744
Key terms of the offer:
Key shareholders of the Company, including VOW ASA, R Investment Company AS, Daler Inn Limited NUF, Skøyen Invest AS, Badin Invest Limited NUF, Fondsavanse AS and all members of the Board and the executive management of the Company, representing approximately 48.67% of the Company’s outstanding share capital have irrevocably undertaken to accept the Offer.
In addition, Vardar AS and Skagerak Energipartner AS (together, the “Rollover Shareholders”) have agreed to transfer all their Shares, representing approximately 18.53% of the Company’s outstanding share capital, to the Offeror outside of the Offer against receiving shares in the Offeror as consideration.
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