Akastor ASA: Receipt of USD 57.4 million cash distribution from NES Fircroft
Akastor ASA's (OSE: AKAST) wholly owned subsidiary Akastor AS ("Akastor") has today received a cash distribution of approximately USD 57.4 million from NES Fircroft.
The cash distribution derives from NES Fircroft's successful USD 650 million senior secured bond issue on 16 July 2026, which funded a USD 350 million dividend recapitalization. Reference is made to announcement from NES Fircroft Bondco AS 16 July 2026 available on NewsWeb:
https://newsweb.oslobors.no/message/678332. Reference is also made to Akastor's Q2 2026 presentation, which is available on Akastor's webpage.
Akastor's economic interest in NES Fircroft remains approximately 15%. Due to the distribution waterfall applicable to the dividend recapitalization, Akastor's share of the cash distribution is slightly higher than its reported economic interest.
For further information, please contact:
Øyvind Paaske
Chief Financial Officer Tel: +47 917 59 705
oyvind.paaske@akastor.com
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.
****
About NES Fircroft:
NES Fircroft is a leading global provider of engineering workforce solutions and technical staffing services. The company supports clients across energy, power and renewables, infrastructure, life sciences, chemicals, mining and technology, providing contract staffing, permanent recruitment and outsourced workforce management solutions. NES Fircroft operates through a global network of more than 80 offices and serves a diversified international customer base.
For further information, please visit homepage: www.nesfircroft.com
About Akastor
Akastor is a Norway-based oil-services investment company with a portfolio of industrial holdings and other investments. The company has a flexible mandate for active ownership and long-term value creation.