15 July 2024 :Hermana Holding ASA , a Norwegian investment company, releases its financial report for the second quarter and half-year 2024. Highlights from the quarter: » The Group had its first day trading on the main list ofOslo Stock Exchange under the ticker HERMA on 18June 2024 » Shareholders ofMagnora ASA received one share inHermana Holding ASA for each of theirMagnora ASA share on18 June 2024 » The demerger fromMagnora ASA is part of a restructuring process inMagnora , finalised during the quarter, with transfer of the legacy agreement withDana Petroleum Ltd. for the Western Isles FPSO as part of the demerger. Reference is made to stock exchange notification made byMagnora ASA on17 November 2023 regarding redeployment of the Western Isles FPSO. As the licensing business including the Western Isles agreement is a carve-out ofMagnora ASA , the expected value of the agreement is not reflected in the balance sheet of the Group » The Group also holds a receivable fromMagnora ASA for the cash to be received from the Shell Penguins license agreement, totalingUSD 8.6 million » As part of the demerger, the Group kept its share of the deferred tax losses carried forward, totaling NOK 417.4 million, and paid-in capital of more thanNOK 1.7 billion » Net cash generated from operating activities during the second quarter was negativeNOK 3.2 million due to low revenues from the Dana license agreement and high costs in the quarter due to the listing process » At the end of30 June 2024 , cash and cash equivalents wereNOK 23.4 million The second quarter and half-year report is attached to this announcement. The report can also be found on: https://hermanaholding.com/investor-relations/ Please contact the chairman for questions:Erik Sneve : es at magnoraasa.com
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