#Norway #Oslo #Euronext #Aker Horizons #liquadation

Aker Horizons Faces Liquidation After Strategic Review

Aker Horizons ASA, a company that once aimed to be a leader in sustainable solutions, is embarking on a significant transition as it prepares to propose liquidation and delisting from Euronext Oslo Børs. This pivotal change comes on the heels of a merger between Aker Horizons Holding AS and Aker HoldCo AS, aimed to bolster its operational capabilities. However, just a few months following the merger on October 30, 2025, the company finds itself without operational activities or investment assets, leading to the board's decision to examine its strategic options.

Financial Background

As stipulated in their recent announcements, Aker Horizons currently holds approximately NOK 17 million in cash and a sizable receivable of around NOK 1.6 billion, tied to a subordinated convertible bond that is expected to reach maturity today. This bond, with a principal amount of NOK 1.5 billion, is anticipated to be fully settled, marking a significant moment for the company's financial closure. However, beneath these numbers lies the stark reality that after this settlement, the company will effectively be an empty shell, lacking material commitments or significant assets.

Board’s Assessment and Proposal

The board's strategic review encompassed various potential courses of action. Unfortunately, no viable alternatives surfaced that would allow the company to salvage its operations without needing substantial new equity funding. This bleak assessment prompted the board to decide on pursuing liquidation. Furthermore, an extraordinary general meeting will be arranged to seek approval for this proposal, which would ultimately permit the delisting of Aker Horizons shares.

The liquidation process is expected to yield about NOK 4-6 million in remaining assets available for distribution, although final amounts will hinge upon the settlement of liabilities and associated costs of the liquidation and delisting endeavor. Given these uncertainties, the timeline for concluding this process remains indeterminate.

Future Steps

Investors and stakeholders will soon receive a formal notice regarding the upcoming extraordinary general meeting, a crucial step that will address the company's fate and the delisting procedures from Oslo's main exchange. Should the proposal be approved, it would symbolize the end of Aker Horizons as a standalone entity, despite prior ambitions.

Company representatives, including Media and Investor relations officer Mats Ektvedt, are available for further information, emphasizing the transparency surrounding this ongoing process as required under EU disclosure regulations.

Conclusion

This series of developments underscores a challenging phase for Aker Horizons ASA, reflecting broader trends within the market where companies focused on sustainability and technological advancement face volatile operational environments. Stakeholders are advised to remain vigilant as substantial changes are on the horizon, marking a crucial juncture in the company's corporate narrative.

For ongoing updates, be sure to monitor official announcements from the company as they navigate these turbulent waters and strive to ensure all stakeholders are informed throughout this challenging period.