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 : Update on reconstruction in Axxis Geo Solutions ASA

04/07/2021 | 02:31am EST
Lysaker, 7 April 2021Axxis Geo Solutions ASA ("Axxis" or the "company") today announces the final
proposal for the company reconstruction pursuant to the court protected
reconstruction process. 

"Axxis will have a balanced financial position and good liquidity reserves to
support continued operations following a successful reconstruction. The final
proposal is largely in line with the proposal presented before Easter and is
subject to a creditor vote and subsequent Extraordinary General Meetings in late
April and mid May, "says Nina Skage, Board Member of Axxis and part of the
reconstruction team.

Reference is made to the Stock Exchange Announcement 16 March 2021 regarding the
draft company reconstruction proposal. The company today announces the final
proposal, which is submitted to the creditors for vote. The proposal consists of
the following main elements:
o The proposal from the company involves a forced debt settlement of the
company's unsecured debt. Secured debt, up to the value of the pledged assets,
is not part of the forced debt settlement.
o Cash settlement of 10% of the outstanding amount, or alternatively, Creditors
will have an option to convert their outstanding claim to shares in the company.
The conversion price is set to 0.5 NOK/share.
o The proposal will be financed through raising new equity in the range of USD
17-20 million at a subscription price of 0.1NOK/share. An amount of USD 17
million is guaranteed by a group of investors. The equity issue will be subject
to shareholder approval at an extraordinary general meeting, which will be held
28 April 2021.

The proposal for reconstruction and an updated corporate presentation are
enclosed. The proposal for reconstruction with voting instructions are also sent
each creditor separately.

For further information, please contact:
Nina Skage, member of the Board of Directors,
+47 91538890

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 Oslo Axess 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

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
11/05Carbon Transition's portfolio company, Arbaflame, enters into substantial letter of int..
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 35,0 M 35,0 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