Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
  1. Homepage
  2. Equities
  3. Norway
  4. Oslo Bors
  5. Carbon Transition ASA
  6. News
  7. Summary
    CARBN   NO0010778095


SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Axxis Geo : Approval of final reconstruction proposal

04/29/2021 | 02:00am EST
Lysaker, 29 April 2021Axxis Geo Solutions ASA ("Axxis" or the "company") today announces the approval
of the final proposal for the company reconstruction pursuant to the court
protected reconstruction process.

Reference is made to the Stock Exchange Announcement 7 April 2021. The deadline
for creditors to vote on the reconstruction proposal expired 27 April 2021. Out
of the 110 creditors voting, 106 creditors voted in favor of the reconstruction
proposal. In nominal amounts, this represents in excess of 98% of claims
eligible to vote voting in favor. In addition, Axxis has obtained acceptance for
a voluntary debt settlement from the creditors in the group companies.

Subject to the reconstruction proposal being confirmed and the forced debt
settlement becoming legally binding, Axxis will pay out approximately USD 7
million in cash and issue approximately 424 million shares to its creditors (the
"Conversion Shares"). The company estimates that the forced debt settlement will
become legally binding, that payments will be made and Conversion Shares issued
no later than 30 June 2021. The Conversion Shares will be in addition to the
1,445 million shares that will be issued in connection with the private
placement, raising NOK 144.5 million (the "Cash Shares", together with the
Conversion Shares, the "New Shares"). The issue of the Cash Shares has been
approved at the extraordinary general meeting held 28 April 2021, and Axxis
expects to shortly confirm the private placement and announce the details of a
subsequent repair offering. Following the issue of the New Shares, the New
Shares will represent in aggregate about 97% of the total outstanding shares in
the company. 

"Following a successful reconstruction, Axxis will have a balanced financial
position and good liquidity reserves to support continued operations. We´re
pleased that 106 creditors voted in favor of the proposal, representing in
aggregate over 98% of claims outstanding from eligible creditors, "says Nina
Skage, Board Member of Axxis and part of the reconstruction team.

For further information, please contact:
Nina Skage, member of the Board of Directors,
+47 915 38 890

Ronny Bøhn, CEO,
+47 905 58 517

Nils Haugestad, CFO,
+47 977 04 439

About Axxis
Axxis Geo Solutions (Axxis) is a pure-play ocean bottom node seismic company
uniquely positioned to pursue both contract and multi-client seismic. Axxis
specializes on delivering tailored seismic solutions and flexible project
management and execution to oil and gas companies world-wide. Its operations are
based on a scalable asset-light setup through chartering of vessels and nodes to
complete seismic surveys. Axxis is listed on EURONEXT EXPAND OSLO and traded
under the
ticker Axxis.
More information on www.axxisgeo.com.

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 the Norwegian Securities Trading Act.

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

01:00aWayne Thomson nominated as new CO2 Capsol AS board member
11/24Carbon Transition ASA - presentation at Fearnley Securities Annual Renewables & Clean-T..
11/19Argeo Names New COO
11/19UBS : Central Bank To Reduce COVID-19 Emergency Programs In 2022
11/18Top steel firm China Baowu unveils global alliance to cut emissions
11/16Carbon Transition ASA - new share capital registered
11/10Carbon Transition announces Q3 2021 Results
11/10Carbon Transition ASA Reports Earnings Results for the Third Quarter and Nine Months En..
11/09Wayne Thomson has been appointed Strategic Advisor in the carbon capture area for Carbo..
11/09Carbon Transition Appoints of Wayne Thomson as Strategic Advisor
More news
Financials (USD)
Sales 2020 92,8 M - -
Net income 2020 -3,13 M - -
Net Debt 2020 28,1 M - -
P/E ratio 2020 -11,5x
Yield 2020 -
Capitalization 35,8 M 35,8 M -
EV / Sales 2019 0,13x
EV / Sales 2020 0,35x
Nbr of Employees 10
Free-Float 87,1%
Duration : Period :
Carbon Transition ASA Technical Analysis Chart | CARBN | NO0010778095 | MarketScreener
Technical analysis trends CARBON TRANSITION ASA
Short TermMid-TermLong Term
Income Statement Evolution
Managers and Directors
Ronny B°hn Chief Executive Officer
Nils Christian Haugestad Chief Financial Officer
Bjorn Gisle Gronlie Chairman
Rick Dunlop Executive Vice President-Operations
Njňl SŠvik Director