Inactive Instrument

Quantafuel

QFUEL

NO0010785967

Quantafuel AS | Amendments to accelerate conversion right under Viridor Term Loan Agreement

October 18, 2023 at 03:29 pm EDT

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.

Click here for more information

Latest news about Quantafuel

Viridor Limited acquired remaining stake in Quantafuel AS (OB:QFUEL).	Feb. 06	CI
Quantafuel Files for Delisting from Oslo Børs	Jan. 30	MT
Viridor Limited agreed to acquire remaining stake in Quantafuel AS (OB:QFUEL) for approximately NOK 180 million.	Jan. 29	CI
Transcript : Quantafuel AS - Shareholder/Analyst Call	Jan. 18
Quantafuel AS Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023	Nov. 15	CI
Quantafuel AS Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023	23-08-31	CI
Quantafuel AS (OB:QFUEL) acquired 50% stake in Polynate AS.	23-08-30	CI
Quantafuel Appoints New CFO	23-08-23	MT
Quantafuel AS Announces CFO Changes	23-08-22	CI
Quantafuel AS Announces Amendment to Viridor Term Loan Agreement Increasing Facility to NOK 1,000 Million	23-07-07	CI
Quantafuel as Elects Omar Shafi Khan as Board Member	23-06-16	CI
Quantafuel ASA Announces Christian Bekkevold Nilsen to Step Down At the End of November as CFO	23-05-15	CI
Quantafuel ASA Announces Executive Changes	23-05-15	CI
Quantafuel AS Reports Earnings Results for the First Quarter Ended March 31, 2023	23-05-12	CI
Viridor Unit Completes Takeover Offer for Quantafuel, Secures Nearly 81% Stake	23-05-05	MT
Viridor Limited completed the acquisition of Quantafuel ASA (OB:QFUEL) from BASF SE, KIRKBI A/S and others for approximately NOK860 million.	23-05-04	CI
Viridor Unit Further Extends Offer Period for Quantafuel Acquisition	23-04-24	MT
Chief executive officer and founder of Geminor Kjetil Vikingstad and Ralf Schöpwinkel completed the acquisition of remaining 40% stake in Geminor AS from Quantafuel ASA (OB:QFUEL).	23-04-19	CI
Viridor Again Extends Offer Period for Quantafuel Acquisition	23-04-17	MT
Chief executive officer and founder of Geminor Kjetil Vikingstad and Ralf Schöpwinkel entered into an agreement to acquire remaining 40% stake in Geminor AS from Quantafuel ASA (OB:QFUEL) for NOK 80 million.	23-04-16	CI
Viridor Extends Offer Period for Quantafuel Acquisition	23-03-30	MT
Quantafuel Says Takeover Offer by Viridor Secures UK Regulatory Approval	23-03-14	MT
Quantafuel ASA Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2022	23-02-28	CI
Transcript : Quantafuel ASA, Q4 2022 Earnings Call, Feb 28, 2023	23-02-28
Viridor Limited made an offer to acquire Quantafuel ASA (OB:QFUEL) BASF SE, KIRKBI A/S and others for NOK1.05 billion.	23-02-27	CI

Quantafuel ASA is a Norway-based recycling company, that converts post-consumer plastic waste back into low-carbon synthetic oil products replacing virgin oil products in the production of new plastics, as well as development and operation in related services. The Company establishes, operates and owns dedicated Plastic-to-Liquid (PtL) plants and plastic sorting facilities. Quantafuel has two plants in operation: Skive (Denmark) for chemical recycling and Kristiansund (Norway) for combined mechanical and chemical recycling. The Company is focused on building a circular economy for plastics that increases resource utilization and reduces emissions.

Sector

Renewable Fuels

Calendar

2024-08-28 - Q2 2024 Earnings Release (Projected)

More about the company