Oslo, 18 October 2023: Reference is made to the announcement on 30 March 2023
regarding the term loan facility (the "Facility") entered into between
Quantafuel AS ("Quantafuel" or the "Company") as borrower and Planets UK Bidco
Limited, an affiliate of Viridor Limited, as lender (the "Lender"). Further
reference is made to the announcement on 7 July 2023 regarding the increase of
the Facility from NOK 250 million to NOK 1 billion and the extension of the
termination date of the Facility.
Under the Facility, each of the Lender and Quantafuel (with the Lender's prior
written consent) has the right to elect that the repayment of the Facility shall
be settled by the issuance of new shares in Quantafuel ( the "Conversion") on 30
September 2024 (the "Termination Date") (the "Conversion Right"). The price per
new share i for the Conversion shall be the lower of NOK 6.38 (equal to the
price per share in the public offer by Viridor) and the volume weighted average
trading price of the Quantafuel share 3 trading days to prior exercise of the
Conversion Right.
Quantafuel and the Lender have today entered into an amendment letter to the
Facility pursuant to which inter alia the Conversion Right may be exercised in
full or in part at any time on or prior to the Termination Date. The amendments
will facilitate for a more optimized capital structure with lower debt ratio,
including in connection with securing financing for project development in line
with the Company's business strategy, from which the Company will benefit
commercially.
For further queries, please contact:
Terje Ulla Eiken, CEO +47 41655493
***
About Quantafuel | https://quantafuel.com
Quantafuel is a technology-based energy company converting waste plastics back
into low-carbon synthetic oil products replacing virgin oil products. Quantafuel
is establishing, operating and owning dedicated plastic-to-liquid (PtL) plants
and plans to establish several plants throughout Europe and beyond.
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to section 5-12 of the Norwegian Securities Trading Act.
This stock exchange announcement was published by Astrid Mannion-Gibson, Head of
Communications at Quantafuel, on 18 October 2023 at 21:26 CEST.