The shares in ABL Group ASA will be traded ex-dividend NOK 0.35 as of today, 1 June 2023. This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
The Annual General Meeting in ABL Group ASA, held 31 May 2023 at 11 am, approved the Board’s proposal of distributing a dividend of NOK 0.35 per share.
The shares in ABL Group ASA will be traded without the right to receive dividend as from 1 June 2023 (ex-date). The dividend will be distributed to the shareholders on or about 15 June 2023.
The Annual General Meeting of ABL Group ASA was held today, 31 May 2023 at 11 am.
All resolutions proposed in the notice to the Annual General Meeting were approved by the shareholders. Please find attached the minutes from the Annual General Meeting.
The Annual General Meeting of ABL Group ASA will be held on 31 May 2023 at 11:00 CET at the Company’s offices, 3rd floor, Haakon VIIs Gate 6, 0161 OSLO.
Shareholders are recommended to exercise their shareholder rights through advance votes by electronic communication via VPS Investor Services or to vote by proxy prior to the meeting. The notice, including attendance, proxy and advance voting forms, will be mailed to all shareholders with a known address. The complete notice, including the recommendation from the Nomination Committee, is available here.
Dividend Amount: NOK 0.35 per share
Declared currency: NOK
Last day including right: 31 May 2023
Ex-date: 1 June 2023
Record date: 2 June 2023
Payment date: On or about 15 June 2023
Date of approval: 31 May 2023
This information is published in accordance with the requirements of the
Continuing Obligations.
ABL Group ASA’s Annual Report 2022 is attached and can be downloaded from our Reports and Presentations page.
The Annual Report 2022 is also available in the European Single Electronic Format (ESEF).
ABL Group’s 2023 first-quarter results
Reuben Segal, CEO of ABL Group ASA (“ABL Group” or the “Company”), commented:
“The first quarter was overall positive, with record high revenues and solid profitability. Organic revenue growth continues to be driven primarily by our renewables consultancy OWC, while our Europe and Americas regions particularly demonstrate improved margins. Activity increased towards the end of the period, and we expect this trend to continue through the next quarter.
We are particularly pleased to have completed the acquisition of AGR just past the quarter’s end. The acquisition gives ABL Group a strong position in well and reservoir consultancy, grows our position within digitalisation and energy transition solutions, and expands our services with a resourcing offering that is already well established in the oil and gas sector and positioned for growth within offshore wind.”
A presentation of the quarterly results will be held today at 08:30 CET at SpareBank 1 Markets’ office at Olav Vs gate 5, 0161 Oslo. The event will be webcast live and available for replay shortly after. To watch the webcast, please visit our Reports and Presentations page.
The quarterly report and a corresponding slide presentation is available here.
ABL Group ASA (“ABL Group”) will release its first-quarter results on Thursday, 27 April 2023, at approximately 06:00 Central European Time (CET).
A presentation of the quarterly results will be held the same day at 08:30 CET at SpareBank 1 Markets’ office at Olav Vs gate 5, 0161 Oslo. The event will be webcast live and available for replay shortly after.
The webcast can be viewed at ABL Group’s website or directly at https://channel.royalcast.com/landingpage/hegnarmedia/20230427_5/.
If you would like to attend the event in person, please notify SpareBank 1 Markets at corporateaccess@sb1markets.no.
The earnings release concerning the quarterly results and a corresponding slide presentation will be posted on www.newsweb.no and on ABL Group’s website.
Reference is made to the stock exchange notice from ABL Group ASA (“ABL Group” or the “Company”) on 18 April 2023 regarding the completion of the Company’s acquisition of 100 percent of the shares in AGR AS and the issuance of 18,166,667 ordinary ABL Group shares to the seller as part of the consideration thereof (the “Consideration Shares”).
The share capital increase pertaining to the issuance of the Consideration Shares has today been registered with the Norwegian Register of Business Enterprises (Nw. Foretaksregisteret).
Following this, the Company’s registered share capital is NOK 12,293,652.90 divided on 122,936,529 shares each with a par value of NOK 0.10.
ABL Group ASA (“ABL Group”) has successfully completed the acquisition of 100 percent of the shares in multi-disciplinary engineering consultancy and software company AGR AS (“AGR”) from a subsidiary of Akastor ASA (“Akastor”). The acquisition bolsters ABL Group’s offering within well and reservoir consultancy, enhances the group’s position supporting operators’ digitalisation and decarbonisation plans, and expands its opex-driven offshore energy exposure.
ABL Group has today completed the acquisition of 100 percent of the shares in AGR AS as further described in the stock exchange notice dated 20 March 2023. The transaction values AGR at NOK 262.5 million (equivalent to USD 25.1 million at current FX rates) on a cash and debt free basis.
The equity purchase price of NOK 277.8 million (USD 26.5 million), which includes a NOK 15.3 million (USD 1.5 million) adjustment for net cash and normalised net working capital in AGR, is based on a “locked box” balance sheet as of 31 December 2022, and further adjusted for leakage inter alia from carve-out transactions and excess cash distribution. It has been settled as follows:
After completion of the transaction, each of Akastor, DNB and Nordea will own approximately 1/3 of the Consideration Shares. All Consideration Shares are subject to a 12-month lock-up period. The Consideration Shares will be issued on a separate ISIN until publication of a listing prospectus, expected in late May or early June 2023.
AGR is a leading multidisciplinary engineering consultancy and software company. The company is the result of a merger in 2019 between AGR and First Geo (formerly Aker Geo).
Today, AGR delivers its services through five business lines: consultancy, which delivers energy consultancy services and personnel in Norway, UK and Australia; well management, with strong footprint in the Asia Pacific region; wellsite and operations geology, which operates primarily in Norway; reservoir management and asset evaluation, operating in Norway; and software products to support the offshore energy industries globally.
The company is headquartered in Oslo, Norway, with additional offices in Stavanger, Bergen and Tromsø in Norway; Perth, Western Australia; and Aberdeen, UK. AGR consists of 377 personnel, of which 196 are AGR employees, and 181 are associates/independent consultants.
In 2022, AGR delivered revenue of NOK 790 million (equivalent to USD 82.1 million at 2022 average FX rate) and an adjusted EBIT of NOK 46 million (USD 4.7 million). The company has a highly scalable business model with low fixed-cost base, which allows it to rapidly adapt to both client and market demands.
