Conversion of shares in Rapid Oil Production Ltd (Rapid Oil) to shares in Knox Energy Solutions AS (Knox)

19 Nov 2024 08:55 CET

All the shareholders of Rapid Oil who had committed to convert their shares in
Rapid Oil to shares in Knox in connection with the extraordinary shareholders
meeting on August 23, 2024, have decided to complete the conversion.

This also includes the shareholders who had a condition for the conversion that
the Knox share will be listed on Euronext Growth.

It also includes the two board members Georges Lambert and Sven Tiefenthal and
the COO Tom Kristiansen.

A total of 28,190 shares in Rapid Oil will be exchanged for a combination of
warrants and new shares to be issued by Knox, in accordance with the resolution
from the extraordinary shareholders meeting on August 23, 2024.

A detailed list will follow.

After the conversion, Knox will hold a total of  56,190 shares in Rapid Oil,
equivalent to 40% of the outstanding shares of the company.

For further information, please contact:

Geir Aune, Chairman, ga@knox-energy.com

Harald B. Hansen, CEO, hh@knox-energy.com

About Knox | knox-energy.com

Knox Energy Solutions AS is an international energy company, with a holding in
Rapid Oil Production Ltd. (Rapid), a UK-based oil and gas company backed by a
highly experienced board and management team.

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