Energia
Aker Carbon Capture ASA proposes a cash dividend of NOK 3.5 billion
In June 2024 , ACC ASA and SLB announced the completion of a transaction combining their carbon capture businesses in a joint venture (JV), since renamed SLB Capturi. ACC ASA retains a 20% ownership stake in the JV and SLB holds the remaining 80%. ACC ASA booked a gain on the sale of NOK 4.9 billion in the consolidated accounts.
Going forward, ACC ASA will, through its ownership in SLB Capturi, continue to support the development of the carbon capture business of SLB Capturi. The cash position remaining in ACC ASA following the proposed dividend distribution will enable the Company to retain a sufficiently robust balance sheet to fulfill its role and responsibilities as a minority owner of SLB Capturi, and will back ACC ASA's remaining pro-rata guarantee exposure for projects awarded prior to the formation of the JV. The Company will continuously consider the best way forward for the Company and its shareholders.
Based on an audited interim balance sheet dated 30 December 2024 , the Company's Board of Directors has proposed to pay an extraordinary cash dividend of NOK 5.80 per share, totaling NOK 3.5 billion . The dividend is subject to approval by an extraordinary general meeting in the Company, expected to be held on or about 7 March 2025 (the EGM), including the EGM's approval of the interim balance sheet. The Board of Directors has also proposed, based on the interim balance sheet, to reduce the share capital of the Company by approximately 98%, aligning the capital with the Company's current operations and also safeguarding that the proposed dividend is treated as repayment of paid in capital for Norwegian tax purposes to the largest extent possible. The proposed capital reduction is subject to approval by the EGM, as well as a six weeks' creditor notice period. The Board has on this basis proposed to pay out the dividend in two tranches, as follows:
For further information:
Media and Investors: Mats Ektvedt , mob: +47 41 42 33 28,
email: mats.ektvedt@corpcom.no
Aker Carbon Capture ASA was established as a separate entity in 2020, building on more than 20 years long experience and maturation of the carbon capture technology within Aker. Following an agreement with SLB, a joint venture between SLB and Aker Carbon Capture was established in June 2024 . The JV, SLB Capturi, is headquartered in Oslo , with SLB owning 80% and Aker Carbon Capture ASA owning 20%, two strong companies with proven track record of building successful industrial businesses positioned for substantial growth.
www.akercarboncapture.com
This information is considered to include inside information pursuant to the EU Market Abuse Regulation article 7 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 Mats Ektvedt , Partner, Corporate Communications, on 12 February 2025 at 16:32 CET .
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