Financial results 3rd quarter 2024 - and pre-notice of extraordinary general meeting

29 Nov 2024 07:30 CET

Aega ASA had revenues of EUR 1,003 thousand in the third quarter of 2024 (Q3
2023 EUR 1,136 thousand). EBITDA was positive with EUR 588 thousand (717).

Until 11 September, Aega had nine operational solar parks. Total production in
the 3rd quarter was 3,214,012 kwh. All solar power plants and the new
construction project (Project Iulius srl) were paid out to the shareholders as
of 11 September following instructions from the general meeting on 31 May. As a
result, Aega enters Q4 with no ownership of solar parks or other Italian assets.


The company is currently in a strategic process that will affect the business.
This process will result in a change in investment focus, and the board will
call an extraordinary general meeting as soon as possible to present the
alternatives to the shareholders. Aega's current operations do not provide
sufficient income for continued operations in the medium or long term. Partly
because we have received notification that the solar parks will terminate the
management agreement (with the company). When these agreements are terminated,
Aega will be without real income.

The extraordinary general meeting will contain a recommendation from the board
to carry out a capital increase so that the company can continue its investment
activities. It is likely that shareholders who do not participate in a future
strengthening of the share capital (if adopted by the general meeting) may
experience a significant dilution of their relative shareholding. The
shareholders must also take into account that the company may be delisted from
trading on Oslo Euronext Expand.

The company expects the board to call an extraordinary general meeting shortly,
where the shareholders will have the opportunity to decide the way forward. We
will return with further updates and encourage everyone to pay close attention
to stock exchange messages in the near future.

Please find attached the Q3-2024 report.
For additional information, please contact:

Nils P. Skaset,
CEO +47 951 88 154
ceo@aega.no

For more information, see www.aega.no

More information:
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633475_Aega Q3, 2024 Final.pdf