Completion of the compulsory acquisition period

11 Feb 2025 09:52 CET

Date: February 11, 2025
Announcement no: 42
ISIN: DK0061676400


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Completion of the compulsory acquisition period and initiation of settlement of
the compulsory acquisition of the shares held by the remaining minority
shareholders of WPU - Waste Plastic Upcycling A/S

Reference is made to announcement no. 28 published by WPU - Waste Plastic
Upcycling A/S (Euronext Growth Oslo: WPU) (“WPU” or the “Company”) on January
13, 2025 where it was announced that Vitol B.V. (“Vitol”) had resolved to
exercise its right to initiate and complete a compulsory acquisition of the
shares held by the remaining minority shareholders of WPU in accordance with
sections 70 and 72 of the Danish Companies Act (the “Compulsory Acquisition”),
and requested the remaining minority shareholders to transfer their shares to
Vitol within a period of four (4) weeks (the “Compulsory Acquisition Period”).

Vitol hereby announces that the Compulsory Acquisition Period has expired.
During the Compulsory Acquisition Period, Vitol has received acceptances
for570,436 shares of nominally DKK 0.01 each, which (in addition to the shares
acquired pursuant to Vitol’s market order announced on January 9, 2025) brings
Vitol’s total shareholding in the Company to 51,906,699 shares of nominally DKK
0.01 each, representing approximately 98.48% of the total issued and outstanding
share capital and voting rights in WPU.

Vitol will now, in accordance with sections 70 and 72 of the Danish Companies
Act and upon payment of the aggregate redemption price of NOK 15 per share in
WPU (each with a nominal value of DKK 0.01) (the “Redemption Price”)
compulsorily acquire the remaining shares in WPU held by the minority
shareholders who have not voluntarily transferred their shares to Vitol prior to
the expiry of the Compulsory Acquisition Period. The Redemption Price is equal
to the price paid by Vitol in its acquisition of 35,227,994 shares of a nominal
value of DKK 0.01 each in WPU (corresponding to 66.84 per cent of the issued
share capital of WPU) pursuant to agreements entered into between Vitol and
certain shareholders on December 16, 2024, as well as equal to the price applied
per share by Vitol under the standing market order announced on January 9, 2025.
Reference is made to company announcements no. 16, no. 19 and no. 25 published
by WPU on December 16, 2024, December 20, 2024, and January 9, 2025,
respectively.

As a result of the Compulsory Acquisition, Vitol will become the sole
shareholder of all issued and outstanding shares in WPU. Following the
Compulsory Acquisition, Vitol will pursue a delisting of WPU’s shares from
Euronext Growth Oslo. Reference is also made to the announcement published by
WPU on February 10, 2025 where shareholders were informed that the trading of
WPU’s shares on Euronext Growth Oslo will be suspended as of today, February 11,
2025.

Furthermore, please see the attached notification form received by WPU from
Vitol in accordance with the Market Abuse Regulation article 19.

For further information, contact:
• WPU: Thomas Åberg, CFO, e-mail: TA@WPU-DK.COM.
• Vitol: e-mail: wasteplasticupcyling@vitol.com.

Important notice:

The Compulsory Acquisition and the terms and conditions of the Compulsory
Acquisition are governed by Danish law and carried out in conformity with the
requirements of Danish law. The Compulsory Acquisition is not subject to
Norwegian law.

The notice for the Compulsory Acquisition has not been and will not be reviewed
or approved by the Norwegian FSA, the Danish FSA, Oslo Børs or any other
regulatory authority or stock exchange.

The notice for the Compulsory Acquisition and the distribution of this
announcement and other information in connection with the Compulsory Acquisition
may be restricted by law in certain jurisdictions. Vitol does not assume any
responsibility in the event there is a violation by any person of such
restrictions. Persons into whose possession this announcement or such other
information should come are required to inform themselves about and to observe
any such restrictions.

Matters discussed in this announcement may constitute forward-looking
statements. Forward-looking statements are statements that are not historical
facts and may be identified by words such as "believe", "expect", "anticipate",
"strategy", "intends", "estimate", "will", "may", "continue", "should" and
similar expressions. The forward-looking statements in this release are based
upon various assumptions, many of which are based, in turn, upon further
assumptions. Although the Company believes that these assumptions were
reasonable when made, these assumptions are inherently subject to significant
known and unknown risks, uncertainties, contingencies and other important
factors which are difficult or impossible to predict, and are beyond their
control. Such risks, uncertainties, contingencies and other important factors
could cause actual events to differ materially from the expectations expressed
or implied in this release by such forward-looking statements. The Company does
not make any guarantee that the assumptions underlying the forward-looking
statements in this announcement are free from errors nor does it accept any
responsibility for the future accuracy of the opinions expressed in this
announcement or any obligation to update or revise the statements in this
announcement to reflect subsequent events. You should not place undue reliance
on the forward-looking statements in this announcement. The information,
opinions and forward-looking statements contained in this announcement speak
only as at its date, and are subject to change without notice. The Company does
not undertake any obligation to review, update, confirm, or to release publicly
any revisions to any forward-looking statements to reflect events that occur or
circumstances that arise in relation to the content of this announcement.
Neither the Company nor any of its affiliates makes any representation as to the
accuracy or completeness of this announcement and none of them accepts any
responsibility for the contents of this announcement or any matters referred to
herein. This announcement is for information purposes only and is not to be
relied upon in substitution for the exercise of independent judgment. Neither
the Company nor any of its affiliates accepts any liability arising from the use
of this announcement. The distribution of this announcement and other
information may be restricted by law in certain jurisdictions. Persons into
whose possession this announcement or such other information should come are
required to inform themselves about and to observe any such restrictions.

More information:
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638230_WPU - Announcement - Completion of the Compulsory Acquisition Period.pdf
638230_WPU - PDMR Notification - Vitol B.V..pdf