HydrogenPro

Oslo, 19 June 2023: Reference is made to the stock exchange announcement by HydrogenPro ASA ("HYPRO” or the "Company") on 13 June 2023 regarding the successful placing of a private placement of new and existing shares with gross proceeds of NOK 126 million (the "Private Placement"), and that the Company intended to carry out a subsequent offering with non-tradable subscription rights of up to 1,500,000 new shares in the Company (the "Subsequent Offering"), depending, inter alia, on the development of the price of the shares and the traded volumes in the Company after completion of the Private Placement.

The board of directors of the Company has today resolved not to proceed with the Subsequent Offering. Following announcement of completion of the Private Placement, more than the announced repair volume of 1.5 million new shares has been traded at or below the subscription price in the Private Placement. In addition, the market price of the Company’s shares has been, and still is, below the subscription price in the Private Placement. Accordingly, any shareholder wishing to reduce the dilutive effect of the Private Placement have had the opportunity to purchase shares in the Company in the market at prices below the subscription price in the Subsequent Offering.

For additional information, please contact:

Martin Thanem Holtet, Chief Financial Officer
Email: martin@hydrogen-pro.com
Phone: +47 922 44 902

Ida Eilertsen Nygård, Head of Investor Relations and ESG
Email: ida@hydrogen-pro.com 
Phone: +47 986 11 952