Aprila Bank ASA: Result of the purchase of existing shares by a consortium of certain primary insiders and other employees
Company news
2025-05-28 21:18:51
NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS COMMUNICATION.
Reference is made to the announcement published by Aprila Bank ASA (the "Company") on 27 May 2025, where a consortium of certain primary insiders and other employees (the Consortium) announced a purchase of up to approx. 360,384 existing shares in the Company through a reverse bookbuilding process (the Offering). The reverse bookbuilding period expired at 16:30 (CEST) on 28 May 2025. Following the end of the reverse bookbuilding period, the Consortium has resolved to buy 283,750 shares at a price of NOK 7.00 per share. This equates to NOK 1,986,251 in total.
Notification of allocation will be made before 09:00 (CEST) on 30 May 2025 (T) and settlement will take place on 3 June 2025 (T+2). The settlement will be conducted on a customary delivery-versus-payment basis (DVP).
The Offering was carried out as part of a share incentive arrangement in the Company for the Consortium. The Consortium has undertaken a 3-year lock-up obligation for the shares purchased in the Offering.
The following primary insiders, and close associates to primary insiders, have been allocated the following in the Offering:
Fjeld-Olsen AS, which is controlled by Aksel Fjeld-Olsen (Head of legal) has been allocated 17,000 existing shares in the Offering. Following completion of the Offering, Aksel Fjeld-Olsen (Head of legal) controls in total 49,000 shares in the Company.
Espen Engelberg (Chief Financial Officer) has been allocated 18,500 existing shares in the Offering. Following completion of the Offering, Espen Engelberg (Chief Financial Officer) controls in total 141,044 shares in the Company.
Blue Mountain Capital AS, which is controlled by Kjetil Sørlien Barli (Chief Executive Officer), has been allocated 37,000 existing shares in the Offering. Following completion of the Offering, Kjetil Sørlien Barli (Chief Executive Officer) controls in total 651,000 shares in the Company.
ABG Sundal Collier is acting as manager in the Offering.
For further information, please contact: ABG Sundal Collier: +47 22 01 60 28
IMPORTANT NOTICE The Offering and the distribution of this announcement and other information in connection with the Offering may be restricted by law in certain jurisdictions (including, but not limited to, the United States, Canada, Australia and Japan). None of the Company, the Consortium or the Manager assume any responsibility in the event there is a violation by any person of such restrictions. This includes shareholders who have changed their domicile to such jurisdictions but which may access their VPS accounts. Persons into whose possession this announcement or relevant information should come are required to inform themselves about and to observe any such restrictions. The Offering is not being made directly or indirectly in, or by use of the mails of, or by any means or instrumentality of interstate or foreign commerce of, or any facilities of a national securities exchange of, the United States of America, its territories and possessions, any State of the United States and the District of Columbia (the "United States") or any other jurisdiction in which this would be unlawful, require registration or other measures. This includes, but is not limited to, facsimile transmission, internet delivery, e-mail and telephones. Copies of this release and any related documents are not being, and must not be, mailed, e-mailed or otherwise distributed or sent in or into the United States or any such jurisdiction and so doing may invalidate any purported acceptance.
MENTOR: Protokoll fra ordinær generalforsamling i Mentor Medier 2025 og utbetaling av utbytte
Company news
2025-05-27 16:02:02
Vedlagt følger protokoll fra ordinær generalforsamling i Mentor Medier AS torsdag 22. mai 2025.
Det ble på generalforsamlingen besluttet å utbetale et utbytte på 70 øre per aksje. Utbetalingen skjer på grunnlag av aksjonær situasjonen i selskapet per 22. mai 2025, og utbetalingen gjøres den 6. juni 2025.
Golar LNG Limited Interim results for the period ended March 31, 2025
Company news
2025-05-27 13:10:02
Highlights and subsequent events
Golar LNG Limited (Golar or the Company) reports Q1 2025 net income attributable to Golar of $8 million, Adjusted EBITDA1 of $41 million and Total Golar Cash1 of $678 million.
Concluded the 20-year charter of FLNG Hilli for Southern Energy S.A. (SESA) in Argentina.
Signed definitive agreements for a 20-year charter for the MKII FLNG to SESA. Combined with the FLNG Hilli charter, the project will be for 5.95 mtpa of nameplate capacity one of the worlds largest FLNG development projects.
FLNG Gimi in final stages of commissioning on the GTA field, Commercial Operations Date ("COD") expected within Q2.
MKII FLNG conversion vessel Fuji LNG arrived at the shipyard for conversion works, conversion project on schedule for Q4 2027 delivery.
FLNG Hilli maintained market-leading operational track record and delivered its 132nd LNG cargo since contract start-up.
Sold minority shareholding in Avenir LNG Limited.
Completed exit from LNG shipping segment with sale of Golar Arctic.
Declared dividend of $0.25 per share for the quarter.
Progressed FLNG growth opportunities with commercial leads, shipyard availability and long lead equipment timing.
FLNG Hilli: Maintained leading operational track record with 132 cargoes offloaded to date and over 9 million tons of LNG produced since operations commenced.
Final Investment Decision (FID) for the 20-year redeployment of FLNG Hilli to Southern Energy in Argentina concluded (further details provided in the SESA charter agreements section). A dedicated team has progressed detailed work on Hillis re-deployment scope, vessel upgrade and transit to her new location.
Following the conclusion of FLNG Hillis re-deployment contract, we will initiate discussions for debt optimization that reflects the strong earnings visibility for the FLNG unit.
FLNG Gimi: In January 2025, the bp operated FPSO provided feedgas from the GTA field allowing for full commissioning to commence, triggering the final upward adjustment to the commissioning rate under the commercial reset agreed in August 2024. First LNG was achieved in February and in April 2025, FLNG Gimi completed the offload of its first full LNG cargo. This introduced Mauritania and Senegal as LNG exporters to the international gas market and triggered the final pre-COD milestone bonus payment to Golar under the terms of the commercial reset. COD, which remains on schedule for Q2 2025, triggers the start of the 20-year Lease and Operate Agreement that unlocks the equivalent of around $3 billion of Adjusted EBITDA backlog1 (Golars share) and recognition of contractual payments comprised of capital and operating elements in both the balance sheet and income statement.
As of May 2025, Golar has invoiced $195.9 million of pre-COD fees under the commercial reset arrangements, with this amount currently recognized on the balance sheet.
On March 20, 2025, a $1.2 billion debt facility to refinance FLNG Gimi was signed with a consortium of leading Chinese leasing companies. The contemplated sale and leaseback facility features a tenor of 12 years and a 17-year amortization profile. Upon closing and repayment of the existing debt facility, Gimi MS Corporation is expected to generate net proceeds of approximately $530 million. This amount includes the release of existing interest rate swaps. Golar stands to benefit from 70% of these proceeds, equivalent to approximately $371 million. The transaction remains subject to customary closing conditions and third party stakeholder approvals. Golar has also progressed a rating process to further evaluate debt optimization alternatives for the vessel during the quarter.
MKII FLNG 3.5 MTPA conversion: Conversion work on the $2.2 billion MKII FLNG is proceeding to schedule. The conversion vessel Fuji LNG entered CIMCs Yantai yard in February 2025 and in April the vessel was successfully separated into forward and aft sections. A mid-ship section housing the liquefaction unit will be inserted between and attached to the refurbished forward and aft sections later in the conversion process. Fabrication of the topsides for the mid-ship section is also underway. As of March 31, 2025, Golar has spent $0.7 billion on the MKII FLNG conversion, all of which is equity funded. The MKII FLNG is expected to be delivered in Q4 2027.
With a definitive agreement that contemplates a 2H 2025 FID now secured, Golar will consider alternatives for asset level MKII FLNG financing.
Southern Energy charter agreements: On May 2, 2025, Golar announced a FID for the 20-year charter of FLNG Hilli. The vessel will be chartered to SESA offshore Argentina. Golar and SESA also signed definitive agreements for a 20-year charter of the MKII FLNG. The MKII FLNG charter remains subject to FID and the same regulatory approvals as those granted to the FLNG Hilli project, expected within 2025.
Key commercial terms for the respective 20-year charter agreements include:
FLNG Hilli (nameplate capacity of 2.45mtpa): Expected contract start-up in 2027, expected Adjusted EBITDA1 to Golar of $285 million per year, plus a commodity linked tariff component of 25% of Free on Board (FOB) prices in excess of $8/MMBtu; and,
MKII FLNG (nameplate capacity of 3.5mtpa): Expected contract start-up in 2028, expected Adjusted EBITDA1 to Golar of $400 million per year, plus a commodity linked tariff component of 25% of FOB prices in excess of $8/MMBtu.
The two FLNG agreements are expected to add $13.7 billion in Adjusted EBITDA backlog1 to Golar over 20 years, before inflationary adjustments (30% of U.S. CPI from year 6) to the charter hire, and before the commodity linked tariff upside. Where achieved FOB prices exceed the $8/MMBtu reference price, Golar will receive 25% of the excess amount (this reference price is subject to the same 30% US CPI adjustment from year 6). The commodity linked element in the FLNG charter provides an upside of $70 million per year to Golar for every $ 1/MMBtu the achieved FOB price is higher than the USD 8/MMBtu reference price. The upside calculation is based on monthly achieved FOB prices.
While the commodity linked tariff component is upside oriented, the Company has also agreed to a mechanism where the charter hire can be partially reduced for FOB prices below $7.5/MMBtu, down to a floor of $6/MMBtu. Under this mechanism, the maximum accumulated discount over the life of both contracts has a cap of $210 million, and any outstanding discounted charter hire amounts will be recovered through additional upside sharing if FOB prices return to levels above $7.5/MMBtu. Golar is not exposed to further downside in the commodity linked FLNG charter mechanism. The upside calculation is based on monthly achieved FOB prices, whilst the downside adjustment is based on annual average achieved FOB prices. The downside mechanism is based on annual average achieved FOB prices.
SESA, a company formed to export Argentinian LNG, is owned by a consortium of leading Argentinian gas producers including Pan American Energy (30%), YPF (25%), Pampa Energia (20%), Harbour Energy (15%) and Golar (10%). The four gas producers have committed to supply their pro-rata share of natural gas to the FLNGs under Gas Sales Agreements at a fixed price per MMBtu. Golars 10% shareholding in SESA provides additional commodity exposure. The 10% equity stake equates to approximately $28 million in annual additional commodity exposure to Golar for every $1/MMBtu change in achieved FOB prices versus SESAs cash break even.
With the combination of the fixed charter hire with 30% of U.S. CPI inflation from year 6, operating expenses pass through, 25% commodity exposure in the FLNG tariff for FOB prices above $8/MMBtu and Golars 10% shareholding in SESA, Golar believes it has secured a highly attractive risk-reward in the SESA charters. For every $1 FOB price above $8/MMBtu, Golars total commodity upside is approximately $100 million, versus approximately $28 million in downside for every $1/MMBtu that realized FOB prices are below SESAs cash break even.
Located offshore in close proximity of each other in Rio Negro's Gulf of San Matias, the FLNG's will monetize gas from the Vaca Muerta formation, the worlds second largest shale gas resource, located onshore in Argentina's Neuquen province. FLNG Hilli will initially utilize spare volumes from the existing pipeline network. SESA intends to facilitate the construction of a dedicated pipeline from Vaca Muerta to the Gulf of San Matias to supply gas to the FLNGs and the project expects to benefit from significant operational efficiencies and synergies from two FLNGs in the same area.
The charters are also subject to strong legal and regulatory protections including:
both charter agreements are subject to English Law with dispute resolution pursuant to ICC arbitration in Paris, France;
hire and other payments under both contracts are fully paid in U.S. dollars;
SESA has obtained Argentinas first ever 30-year non-interruptible LNG export license for FLNG Hilli, providing security of exports, necessary for the significant upstream and midstream investments, as well as securing offtake contracts; and
MKII FLNG is expected to obtain a similar term export license within 2025.
FLNG Hilli has been approved for adherence to the Large Investments Incentive Scheme (RIGI), as a Long-Term Strategic Export project. The RIGI was implemented by the current administration of President Milei to incentivize large investments in Argentina. Under the RIGI, there are incentives and protections granted to the project company (SESA), with Golar benefiting as an international asset provider and investor, mostly notably:
guaranteed legal certainty and regulatory stability for the duration of the project, covering taxes, customs, duties, and foreign exchange controls;
any new national, provincial, or municipal taxes or restrictions would not apply to RIGI projects beyond those existing when the project was approved; and
freedom to repatriate profits, dividends, and capital including exemption from potential Central Bank restrictions on access to foreign exchange for repatriation purposes.
If Argentina breaches the RIGI framework (e.g. by purporting to change the regime unilaterally), the beneficiary of the RIGI status can:
bring legal action against the National or Provincial Government (as applicable) under ICC arbitration, or elect to challenge the revocation through administrative channels; and
challenge the constitutionality of enacted law which breaches the RIGI protections.
Business development: Detailed discussions for FLNG opportunities continue. With limited yard capacity for FLNG delivery before the 2030s, and with the current Golar fleet committed, we see firming demand for the remaining available 2020s deliveries. Progress is being made on FLNG projects ranging from MKI, MKII and MKIII FLNG developments. We target FLNG opportunities with competitive wellhead gas to secure attractive base tariff and commodity upside participation. We are also in commercial negotiations with potential charterers seeking equity participation in the FLNG to align project stakeholders.
On the back of the recent commitments for the existing fleet and with ongoing detailed commercial discussions, we are working with shipyards and topside equipment providers to firm-up prices and schedules for potential ordering of additional unit(s) within 2025. Any growth initiatives are planned to be funded with recycled liquidity from debt optimization of the existing FLNG fleet on the back of their long term charters.
Corporate/Other: Operating revenues and costs under corporate and other items are comprised of two FSRU operate and maintain agreements in respect of the LNG Croatia and Italis LNG together with the Golar Arctic up to her point of sale in March 2025, for $24 million, and the Fuji LNG, up to the point she entered CIMC's yard in February 2025 for FLNG conversion.
In February 2025, Golar also closed the sale of its non-core 23.4% interest in Avenir LNG Limited, for $39 million.
Shares and dividends: As of March 31, 2025, 104.7 million shares are issued and outstanding. Golars Board of Directors approved a total Q1 2025 dividend of $0.25 per share to be paid on or around June 10, 2025. The record date will be June 3, 2025.
Financial Summary
(in thousands of $)
Q1 2025
Q1 2024
% Change
Q4 2024
% Change
Net income
12,939
66,495
(81)%
15,037
(14)%
Net income attributable to Golar LNG Ltd
8,197
55,220
(85)%
4,494
82%
Total operating revenues
62,502
64,959
(4)%
65,917
(5)%
Adjusted EBITDA 1
40,936
63,587
(36)%
59,168
(31)%
Golars share of Contractual Debt 1
1,494,615
1,209,407
24%
1,515,357
(1)%
Financial Review
Business Performance:
2025
2024
(in thousands of $)
Jan-Mar
Oct-Dec
Jan-Mar
Net income
12,939
15,037
66,495
Income taxes
179
(504)
138
Net income before income taxes
13,118
14,533
66,633
Depreciation and amortization
12,638
13,642
12,476
Impairment of long-term assets
22,933
Unrealized loss/(gain) on oil and gas derivative instruments
25,001
14,269
(2,148)
Other non-operating loss
7,000
Interest income
(8,699)
(9,866)
(10,026)
Loss/(gain) on derivative instruments, net
6,795
(8,711)
(6,202)
Other financial items, net
2,292
1,153
2,640
Net (income)/loss from equity method investments
(10,209)
4,215
214
Adjusted EBITDA 1
40,936
59,168
63,587
2025
2024
Jan-Mar
Oct-Dec
(in thousands of $)
FLNG
Corporate and other
Total
FLNG
Corporate and other
Total
Total operating revenues
55,688
6,814
62,502
56,396
9,521
65,917
Vessel operating expenses
(18,785)
(9,685)
(28,470)
(19,788)
(8,121)
(27,909)
Voyage, charterhire & commission expenses
(446)
(446)
Administrative expenses
(588)
(8,999)
(9,587)
(264)
(7,241)
(7,505)
Project development expenses
(2,351)
(968)
(3,319)
(3,624)
(1,236)
(4,860)
Realized gain on oil and gas derivative instruments (2)
21,213
21,213
33,502
33,502
Other operating income
(1,403)
(1,403)
469
469
Adjusted EBITDA 1
55,177
(14,241)
40,936
66,691
(7,523)
59,168
(2) The line item Realized and unrealized (loss)/gain on oil and gas derivative instruments in the Unaudited Consolidated Statements of Operations relates to income from the Hilli Liquefaction Tolling Agreement (LTA) and the natural gas derivative which is split into: Realized gain on oil and gas derivative instruments and Unrealized (loss)/gain on oil and gas derivative instruments.
2024
Jan-Mar
(in thousands of $)
FLNG
Corporate and other
Total
Total operating revenues
56,368
8,591
64,959
Vessel operating expenses
(18,784)
(7,078)
(25,862)
Voyage, charterhire & commission expenses
(1,770)
(1,770)
Administrative expenses
(471)
(6,604)
(7,075)
Project development expenses/(income)
(1,085)
273
(812)
Realized gain on oil and gas derivative instruments
34,147
34,147
Adjusted EBITDA 1
70,175
(6,588)
63,587
Golar reports today Q1 2025 net income of $13 million, before non-controlling interests, inclusive of $32 million of non-cash items1, comprised of:
TTF and Brent oil unrealized mark-to-market (MTM) losses of $25 million; and
A $7 million MTM loss on interest rate swaps.
The Brent oil linked component of FLNG Hillis fees generates additional annual cash of approximately $3.1 million for every dollar increase in Brent Crude prices between $60 per barrel and the contractual ceiling. Billing of this component is based on a three-month look-back at average Brent Crude prices. During Q1 2025, we recognized a total of $21 million of realized gains on FLNG Hilli's oil and gas derivative instruments, comprised of a:
$12 million realized gain on the Brent oil linked derivative instrument; and
$9 million realized gain in respect of fees for the TTF linked production.
We also recognized $25 million of non-cash losses in relation to FLNG Hillis oil and gas derivative assets, with corresponding changes in the fair value in its constituent parts recognized on our unaudited consolidated statement of operations as follows:
$13 million loss on the Brent oil linked derivative asset; and
$12 million loss on the TTF linked natural gas derivative asset.
Balance Sheet and Liquidity:
As of March 31, 2025, Total Golar Cash1 was $678 million, comprised of $522 million of cash and cash equivalents and $156 million of restricted cash.
Golars share of Contractual Debt1 as of March 31, 2025 is $1,495 million. Deducting Total Golar Cash1 of $678 million from Golars share of Contractual Debt1 leaves a net debt position of $817 million.
Assets under development amounts to $2.5 billion, comprised of $1.8 billion in respect of FLNG Gimi and $0.7 billion in respect of the MKII FLNG. The carrying value of LNG carrier Fuji LNG, previously included under Vessels and equipment, net in Q4 2024 was transferred to Assets under development in Q1 2025.
Non-GAAP measures
In addition to disclosing financial results in accordance with U.S. generally accepted accounting principles (US GAAP), this earnings release and the associated investor presentation contains references to the non-GAAP financial measures which are included in the table below. We believe these non-GAAP financial measures provide investors with useful supplemental information about the financial performance of our business, enable comparison of financial results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management in operating our business and measuring our performance.
This report also contains certain forward-looking non-GAAP measures for which we are unable to provide a reconciliation to the most comparable GAAP financial measures because certain information needed to reconcile those non-GAAP measures to the most comparable GAAP financial measures is dependent on future events some of which are outside of our control, such as oil and gas prices and exchange rates, as such items may be significant. Non-GAAP measures in respect of future events which cannot be reconciled to the most comparable GAAP financial measure are calculated in a manner which is consistent with the accounting policies applied to Golars unaudited consolidated financial statements.
These non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures and financial results calculated in accordance with GAAP. Non-GAAP measures are not uniformly defined by all companies and may not be comparable with similarly titled measures and disclosures used by other companies. The reconciliations as at March 31, 2025 and for the three months ended March 31, 2025, from these results should be carefully evaluated.
Non-GAAP measure
Closest equivalent US GAAP measure
Adjustments to reconcile to primary financial statements prepared under US GAAP
Rationale for adjustments
Performance measures
Adjusted EBITDA
Net income/(loss)
+/- Income taxes + Depreciation and amortization + Impairment of long-lived assets +/- Unrealized (gain)/loss on oil and gas derivative instruments +/- Other non-operating (income)/losses +/- Net financial (income)/expense +/- Net (income)/losses from equity method investments +/- Net loss/(income) from discontinued operations
Increases the comparability of total business performance from period to period and against the performance of other companies by excluding the results of our equity investments, removing the impact of unrealized movements on embedded derivatives, depreciation, impairment charge, financing costs, tax items and discontinued operations.
Distributable Adjusted EBITDA
Net income/(loss)
+/- Income taxes + Depreciation and amortization + Impairment of long-lived assets +/- Unrealized (gain)/loss on oil and gas derivative instruments +/- Other non-operating (income)/losses +/- Net financial (income)/expense +/- Net (income)/losses from equity method investments +/- Net loss/(income) from discontinued operations - Amortization of deferred commissioning period revenue - Amortization of Day 1 gains - Accrued overproduction revenue + Overproduction revenue received - Accrued underutilization adjustment
Increases the comparability of our operational FLNG Hilli from period to period and against the performance of other companies by removing the non-distributable income of FLNG Hilli, project development costs, the operating costs of the Gandria (prior to her disposal) and FLNG Gimi.
Liquidity measures
Contractual debt 1
Total debt (current and non-current), net of deferred finance charges
During the year, we consolidate a lessor VIE for our Hilli sale and leaseback facility. This means that on consolidation, our contractual debt is eliminated and replaced with the lessor VIE debt.
Contractual debt represents our debt obligations under our various financing arrangements before consolidating the lessor VIE.
The measure enables investors and users of our financial statements to assess our liquidity, identify the split of our debt (current and non-current) based on our underlying contractual obligations and aid comparability with our competitors.
Adjusted net debt
Adjusted net debt based on GAAP measures: -Total debt (current and non-current), net of deferred finance charges - Cash and cash equivalents - Restricted cash and short-term deposits (current and non-current) - Other current assets (Receivable from TTF linked commodity swap derivatives)
Total debt (current and non-current), net of: +Deferred finance charges +Cash and cash equivalents +Restricted cash and short-term deposits (current and non-current) +/-VIE consolidation adjustments +Receivable from TTF linked commodity swap derivatives
The measure enables investors and users of our financial statements to assess our liquidity based on our underlying contractual obligations and aids comparability with our competitors.
Total Golar Cash
Golar cash based on GAAP measures:
+ Cash and cash equivalents
+ Restricted cash and short-term deposits (current and non-current)
-VIE restricted cash and short-term deposits
We consolidate a lessor VIE for our sale and leaseback facility. This means that on consolidation, we include restricted cash held by the lessor VIE.
Total Golar Cash represents our cash and cash equivalents and restricted cash and short-term deposits (current and non-current) before consolidating the lessor VIE.
Management believe that this measure enables investors and users of our financial statements to assess our liquidity and aids comparability with our competitors.
(1) Please refer to reconciliation below for Golars share of contractual debt
Adjusted EBITDA backlog (also referred to as earnings backlog): This is a non-GAAP financial measure and represents the share of contracted fee income for executed contracts or definitive agreements less forecasted operating expenses for these contracts/agreements. Adjusted EBITDA backlog should not be considered as an alternative to net income / (loss) or any other measure of our financial performance calculated in accordance with U.S. GAAP.
Non-cash items: Non-cash items comprised of impairment of long-lived assets, release of prior year contract underutilization liability, MTM movements on our TTF and Brent oil linked derivatives, listed equity securities and interest rate swaps (IRS) which relate to the unrealized component of the gains/(losses) on oil and gas derivative instruments, unrealized MTM (losses)/gains on investment in listed equity securities and gains on derivative instruments, net, in our unaudited consolidated statement of operations.
Abbreviations used:
FLNG: Floating Liquefaction Natural Gas vessel FSRU: Floating Storage and Regasification Unit MKII FLNG: Mark II FLNG FPSO: Floating Production, Storage and Offloading unit
MMBtu: Million British Thermal Units mtpa: Million Tons Per Annum
Reconciliations - Liquidity Measures
Total Golar Cash
(in thousands of $)
March 31, 2025
December 31, 2024
March 31, 2024
Cash and cash equivalents
521,434
566,384
547,868
Restricted cash and short-term deposits (current and non-current)
172,879
150,198
92,159
Less: VIE restricted cash and short-term deposits
(16,745)
Key information relating to the cash dividend to be paid by Golar LNG Limited (Ticker: GLNG)
Company news
2025-05-27 13:10:02
Reference is made to the first quarter 2025 report released on May 27, 2025. Golar LNG Limited (Golar), NASDAQ ticker: GLNG, has declared a total dividend of $0.25 per share to be paid on or around June 10, 2025. The record date will be June 3, 2025. Due to the implementation of the Central Securities Depository Regulation (CSDR), please note the information below on the payment date for the small number of Golar shares registered in Norways central securities depository (VPS):
Dividend amount: $0.25 per share
Declared currency: USD. Dividends payable to shares registered in the VPS will be distributed in NOK
Last day including right: May 30, 2025
Ex-date: June 2, 2025
Record date: June 3, 2025
Payment date: On or about June 10, 2025. Due to the implementation of CSDR in Norway, dividends payable to shares registered in the VPS will be distributed on or about June 12, 2025.
Golar LNG Limited Hamilton, Bermuda May 27, 2025
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Aprila Bank ASA: Exercise of options
Company news
2025-05-27 11:12:49
Option holders in Aprila Bank ASA (Aprila) have on 28 May 2025 exercised 68,245 options, pursuant to the companys stock option plan which was authorised by the ordinary general meeting in the company on 28 April 2025.
In addition to the strike price, option holders who are employees in Aprila shall reimburse the social security tax to the company. For employees, the exercise of options is also subject to income taxation based on the option holders gain, calculated as the difference between the volume-weighted average share price during the exercise window and the sum of strike and social security tax.
Options exercised by primary insiders:
Christian Sandvik Lunde, Chief Credit Officer in Aprila, has exercised 68,245 options in the company, corresponding to 68,245 shares at a strike price of 5.00. Following the issue of the underlying shares, Christian Sandvik Lunde will hold, directly and through his wholly owned investment company Pippen Holding AS, a total of 174,768 shares in the company, equal to 0.2% of the share capital.
GIGNO: Share Purchases by GiG CEO
Company news
2025-05-27 08:05:03
27 May 2025
GiG Software Plc (GiG or the Company)
Share Purchases by GiG CEO Increase of shareholding by 27% since Q1 2025 Report release
GiG Software Plc (First North: GiG SDB), a leading B2B iGaming technology company, announces that 385,000 shares have been purchased by Richard Carter, the Companys CEO, being a person discharging managerial responsibility (PDMRs).
These purchases further illustrate the confidence GiGs management has in its strategic execution in 2025 and beyond and takes the total number of shares purchased by Richard in 2025 to 1,261,243, and his total shareholding to 1,827,987 shares. The total numbers of shares held in GiG by management and directors amounts to 5,072,041 or 4% issued share capital.
For further information, please contact:
GiG Software PLC Richard Carter, Chief Executive Officer Phil Richards, Chief Financial Officer ir@gig.com
Vigo Consulting (Investor Relations) Jeremy Garcia / Kendall Hill / Peter Jacob GiG@vigoconsulting.com Tel: +44 (0) 20 7390 0230
About GiG Software Plc
GiG Software is a leading B2B iGaming technology company that provides premium solutions, products, and services to iGaming operators worldwide, fully compliant with regulatory requirements. GiGs proprietary technology empowers our partners by delivering dynamic, data-driven, and scalable iGaming solutions that drive user engagement, optimise performance, and propel sustainable growth in the ever-evolving digital landscape. GiGs vision is to be the pioneering force in the iGaming industry, transforming digital gaming experiences through innovation and technology that inspire and engage players worldwide.
GiG operates out of Malta and is listed on the Nasdaq First North Premier Growth Market in Stockholm, Sweden, under the ticker GiG SDB.
Aprila Bank ASA: Potential purchase of existing shares by a consortium of certain primary insiders and other employees
Company news
2025-05-27 07:12:46
NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS COMMUNICATION.
A consortium of certain primary insiders and other employees (the Consortium) in Aprila Bank ASA (the Company) hereby launches a potential purchase of up to 360,384 existing shares in the Company (the Offering). The Consortium reserves the right, at its sole discretion, to reduce the size of the Offering (among other depending on pricing) or to purchase no shares at all. The Consortium has mandated ABG Sundal Collier (the Manager) to assist with the Offering.
The Offering will be conducted as a reverse bookbuilding process in which all existing shareholders in the Company (who may legally offer shares without the requirement for any prospectus, offer document or other measures) are invited to offer shares to the Consortium at a price level defined by the respective selling shareholder by contacting the Manager (see contact details below).
The final purchase price per share will be set based on the sales orders received at a level representing a satisfactory price and offering volume (to be determined by the Consortium at its sole discretion). The final purchase price will be identical for all selling shareholders.
The Offering is carried out as part of a share incentive arrangement in the Company for the Consortium. The Consortium will undertake a 3-year lock-up obligation for the shares purchased in the Offering.
The reverse bookbuilding period commences today, 27 May 2025, at 09:00 (CEST) and is expected to close at 16:30 (CEST) on 28 May 2025. The result of the Offering and pricing is expected to be published on or about 28 May 2025. Notification of allocation is expected to be made available by the Manager on or about 30 May 2025 (T) before 09:00 (CEST) and settlement is expected to take place on or about 3 June 2025 (T+2) on a delivery versus payment basis (DVP).
The Consortium may, at its sole discretion, extend or shorten the reverse bookbuilding period at any time and for any reason without notice. If the reverse bookbuilding period is extended or shortened, the other dates referred to herein might be changed accordingly.
Existing shareholders in the Company wishing to participate in the Offering may contact the Manager at +47 22 01 60 28 in order to place a sales order. Existing shareholders in the Company who would like to participate in the Offering who are not registered as clients of the Manager must establish a client relationship before participating.
In the event that the total volume offered by selling shareholders in the Offering exceeds the final offering size at or below the final offering price, the allocation will, to the extent possible, be made on a pro rata basis based on the volume offered by each selling shareholder with the objective of treating all shareholders equally based on their indicated interest in participating in the Offering at or below the final purchase price.
For further information, please contact:
ABG Sundal Collier: +47 22 01 60 28
IMPORTANT NOTICE
The Offering will be carried out in accordance with applicable laws and regulations and information pertaining to the Offering will be disclosed by way of notices on the NOTC platform.
The Offering and the distribution of this announcement and other information in connection with the Offering may be restricted by law in certain jurisdictions (including, but not limited to, the United States, Canada, Australia and Japan). None of the Company, the Consortium or the Manager assume any responsibility in the event there is a violation by any person of such restrictions. This includes shareholders who have changed their domicile to such jurisdictions but which may access their VPS accounts. Persons into whose possession this announcement or relevant information should come are required to inform themselves about and to observe any such restrictions. The Offering is not being made directly or indirectly in, or by use of the mails of, or by any means or instrumentality of interstate or foreign commerce of, or any facilities of a national securities exchange of, the United States of America, its territories and possessions, any State of the United States and the District of Columbia (the "United States") or any other jurisdiction in which this would be unlawful, require registration or other measures. This includes, but is not limited to, facsimile transmission, internet delivery, e-mail and telephones. Copies of this release and any related documents are not being, and must not be, mailed, e-mailed or otherwise distributed or sent in or into the United States or any such jurisdiction and so doing may invalidate any purported acceptance.
PNO: Annual report 2024
Company news
2025-05-26 09:47:09
Please find attached the 2024 annual report for Petrolia NOCO AS.
GIGNO: Delisting of Norwegian Depository Receipts from the Euronext NOTC List
Company news
2025-05-23 13:32:20
23 May 2025
GiG Software Plc (GiG or the Company)
Delisting of Norwegian Depository Receipts from the Euronext NOTC List
GiG Software Plc (First North: GiG SDB), a leading B2B iGaming technology company, announces that, Oslo Børs ASA approved the delisting application of the Norwegian Depository Receipts (ISIN NO0013326033) (NDRs) from the Euronext NOTC List, and the last day that the NDRs will be listed on Euronext NOTC List is on 30 June 2025.
The delisted Norwegian Depository Receipts will continue to be registered in VPS. Investors may continue to exchange their Norwegian Depository Receipts with Swedish Depository Receipts.
For further information, please contact:
GiG Software PLC Richard Carter, Chief Executive Officer Phil Richards, Chief Financial Officer
ir@gig.com
Vigo Consulting (Investor Relations) Jeremy Garcia / Kendall Hill / Peter Jacob GiG@vigoconsulting.com Tel: +44 (0) 20 7390 0230
About GiG Software Plc
GiG Software is a leading B2B iGaming technology company that provides premium solutions, products, and services to iGaming operators worldwide, fully compliant with regulatory requirements. GiGs proprietary technology empowers our partners by delivering dynamic, data-driven, and scalable iGaming solutions that drive user engagement, optimise performance, and propel sustainable growth in the ever-evolving digital landscape. GiGs vision is to be the pioneering force in the iGaming industry, transforming digital gaming experiences through innovation and technology that inspire and engage players worldwide.
GiG operates out of Malta and is listed on the Nasdaq First North Premier Growth Market in Stockholm, Sweden, under the ticker GiG SDB.
Pre-Notice of Ordinary General Assembly Etman International ASA
Company news
2025-05-22 20:54:07
The Ordinary General Assembly of Etman International ASA will be held on Thursday, 5 June 2025 at 16:00, at the companys premises: Auglendsmyrå 11, 4016 Stavanger, Norway.
Preliminary Agenda: Chairman Stein Jone Lithun will open the meeting.
1)Election of the chair of the meeting, the keeper of the minutes, and one person to co-sign the minutes together with the chair.
2)Approval of the notice and registration of powers of attorney.
3)Approval of the Board of Directors annual report and financial statements for 2024 for the company.
4)Approval of the Board of Directors consolidated financial statements for 2024.
5)Approval of the auditors remuneration.
6)Renewal of authorization to the Board: acquisition of own shares.
7)Approval of remuneration for the Board of Directors and the Nomination Committee.
8)Election of two board members.The Nomination Committee will present its proposal during the meeting.
9)Election of members to the Nomination Committee.
NHST Holding AS- annual report 2024 and AGM 2025
Company news
2025-05-22 20:47:13
The 2024 annual report for NHST Holding has now been made available on the company`s website www.nhst.com. The Annual General Meeting will be held in the company`s offices in Oslo on June 19, at 14.00. The notice will be sent to shareholders in due course.
Endring av aksje: Glex AS (GLEX)
Corporate actions
2025-05-22 14:00:14
Det er foretatt endringer i Glex AS (ISIN:NO0011157224, ticker GLEX). Aksjebeholdningen er øket fra 7 682 971 til 8 591 513. Emisjonsverdien er øket fra 42 256 341 til 51 549 078.
Eiendomsspar Vellykket plassering av nytt senior sikret NOK obligasjonslån
Company news
2025-05-22 13:03:23
Eiendomsspar AS har i dag plassert et nytt senior sikret obligasjonslån på totalt NOK 1.400 millioner med 3 års løpetid og flytende kupong på 3mNibor + 1.05% p.a. Obligasjonslånet vil bli søkt notert på Nordic ABM.
Handelsbanken var tilrettelegger for transaksjonen.
For ytterligere informasjon, vennligst kontakt: Jon Rasmus Aurdal, Finansdirektør, Mobil: +47 467 49 643
Oslo, 22. mai 2025.
GIGNO: Delisting of Norwegian Depository Receipts from the Euronext NOTC List
Company news
2025-05-22 11:51:28
22 May 2025
GiG Software Plc (GiG or the Company)
Delisting of Norwegian Depository Receipts from the Euronext NOTC List
GiG Software Plc (First North: GiG SDB), a leading B2B iGaming technology company, announces that, pursuant to a decision of the Annual General Meeting of the Company on the 21 May 2025 that approved the delisting of the Norwegian Depository Receipts (ISIN NO0013326033) from the Euronext NOTC List, the Company has now submitted an application to Oslo Bors ASA to delist the Norwegian Depository Receipts from the Euronext NOTC List.
The delisted Norwegian Depository Receipts will continue to be registered in VPS. Investors may continue to exchange their Norwegian Depository Receipts with Swedish Depository Receipts.
For further information, please contact:
GiG Software PLC Richard Carter, Chief Executive Officer Phil Richards, Chief Financial Officer
ir@gig.com
Vigo Consulting (Investor Relations) Jeremy Garcia / Kendall Hill / Peter Jacob GiG@vigoconsulting.com Tel: +44 (0) 20 7390 0230
About GiG Software Plc
GiG Software is a leading B2B iGaming technology company that provides premium solutions, products, and services to iGaming operators worldwide, fully compliant with regulatory requirements. GiGs proprietary technology empowers our partners by delivering dynamic, data-driven, and scalable iGaming solutions that drive user engagement, optimise performance, and propel sustainable growth in the ever-evolving digital landscape. GiGs vision is to be the pioneering force in the iGaming industry, transforming digital gaming experiences through innovation and technology that inspire and engage players worldwide.
GiG operates out of Malta and is listed on the Nasdaq First North Premier Growth Market in Stockholm, Sweden, under the ticker GiG SDB.
22 May 2025 GiG Software Plc (GiG or the Company)
Q1 2025 Report
Strong start to 2025 underpinning full-year guidance
GiG Software Plc (First North: GiG SDB), a leading B2B iGaming technology company, is pleased to announce its financial results for the first quarter ended 31 March 2025.
Key Operational Highlights
Delivered four key customer launches, including with Betzone (UK), Primero (Sweepstakes) and Powerplay (Ontario). Nine commercial agreements signed, including with a key existing customer, Casino Gran Madrid. Initiation of technical consolidation to streamline business processes and eliminate duplication triggering significant cost savings and revenue upside in 2026 and beyond. Signed sales pipeline at 31 March 2025 of 20m up from 16m at Q4 2024.
Financial Summary
Revenue of 9.1 million (Q1 2024: 8.3 million) for the first quarter of 2025, up 10% YoY. Adjusted EBITDA* for the first quarter of 2025 increase of 1.2 million to 0.3 million (Q1 2024: loss of 0.9 million) at a margin of 4% (Q1 2024: -7%). Cash and cash equivalents balance of 4.9 million as at 31 March 2025 (31 March 2024: 4.5 million, 31 December 2024: 6.4 million).
Q1 2025 Breakdown
m Q1-2025 Q1-2024 YoY Variance Jan-Dec 2024
Revenue 9.1 8.3 10% 31.8
Adjusted EBITDA* 0.3 (0.9) 150% (3.0)
Adjusted EBITDA Margin 4% -10% 157% -9%
EBITDA 0.2 (1.6) 115% (7.2)
EBIT (4.4) (5.9) 26% (28.2)
Loss after tax (4.6) (6.6) 31% (79.4)
Net cash outflow (1.5) (6.1) 77% (4.3)
Cash and Cash equivalents 4.9 4.5 9% 6.4 * Adjusted for share-based payments
Investor Presentation
Richard Carter, Chief Executive Officer, and Phil Richards, Chief Financial Officer, will provide a presentation and Q&A for investors via the Redeye platform on Thursday, 22 May 2025 at 10.00 a.m. CET / 9.00 a.m. BST. The Redeye presentation is open to all existing and potential shareholders.
Investors can register for the presentation via the following link: https://www.redeye.se/events/1093511/live-q-gig-software?tab=abouttheevent
Financial Statements and Notes to the Accounts
For access to the Financial Statements and Notes to the Accounts for the first quarter, please view the accompanying PDF attachment.
For further information, please contact:
GiG Software PLC Richard Carter, Chief Executive Officer Phil Richards, Chief Financial Officer ir@gig.com
Vigo Consulting (Investor Relations) Jeremy Garcia / Kendall Hill / Peter Jacob GiG@vigoconsulting.com Tel: +44 (0) 20 7390 0230
About GiG Software Plc
GiG Software is a leading B2B iGaming technology company that provides premium solutions, products, and services to iGaming operators worldwide, fully compliant with regulatory requirements. GiGs proprietary technology empowers our partners by delivering dynamic, data-driven, and scalable iGaming solutions that drive user engagement, optimise performance, and propel sustainable growth in the ever-evolving digital landscape. GiGs vision is to be the pioneering force in the iGaming industry, transforming digital gaming experiences through innovation and technology that inspire and engage players worldwide.
GiG operates out of Malta and is listed on the Nasdaq First North Premier Growth Market in Stockholm, Sweden, under the ticker GiG SDB.
This information is information that GiG Software Plc is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 08.00 am CET on May 22, 2025.
CEOs Review
I am delighted to report that Q1 continued with the same positive momentum and trajectory that we saw through the latter half of 2024, delivering solid financial progress and the addition of new and exciting customers.
Pleasingly, we launched four new brands in the quarter. This excellent progress is a testament to our ability to deliver a market-leading solution to new customers, underpinning our financial targets we have communicated to the market, and reinforces the scalability and flexibility of our solutions. The brands launched are in some of the most dynamic and competitive markets within our industry, and the mix between new customers and additional brands goes to further highlight the appeal of expansion within our existing customer base, alongside new operators wanting to launch with GiG to ensure they are operating with the latest and best technology in the industry.
To achieve these results against a backdrop of YoY cost reduction is equally impressive, with our continued focus on profitability and cash generation beginning to yield tangible results. Improving our EBITDA by 1.8m year-on-year, alongside significant revenue growth and product enhancements, demonstrates that the business turnaround is taking shape.
Q1 saw another quarter of significant contract signings, with nine being signed in the quarter alone. This saw a good mix between partnership renewals/expansions and new customers wishing to take our market-leading products.
In addition, we maintain our focus on pipeline expansion, both in terms of quantity and quality. The improvement over the last twelve months has been remarkable, and our unprecedented brand presence at the industrys leading conference, ICE, in Barcelona was a testament to the reputation we are building across the sector for innovation, technical excellence and speed of execution. With over 1,000 unique visitors, 190 product demos, and 100+ sales meetings during the conference, we were able to significantly build upon our existing pipeline, realising already the benefits of this with two walk-on leads having already signed commercial heads of terms prior to the quarter end.
In summary, Q1 2025 delivered the foundations upon which we are basing our guidance and plans for 2025, and I am extremely proud of what we have achieved over this short period of time. We will look to build on this momentum going through 2025 and continue to focus upon these key themes of new partner onboarding, new market and brand launches whilst delivering a best-in-class solution underpinned by a solid and scalable financial model to ensure maximum shareholder value is created.
