Hexagon Purus ASA Registers Reverse Share Split to Consolidate Equity Base

Hexagon Purus ASA has officially registered a reverse share split with the Norwegian Register of Business Enterprises. The corporate action follows a resolution passed during the company’s general meeting held on April 24, 2024. Consolidation Details The share consolidation was implemented at a ratio of 10:1, where every ten existing shares with a par value of NOK 0.10 were replaced by one new share with a par value of NOK 1.00. This process reduces the total number of outstanding shares while maintaining the company's total share capital at its current level. The registration marks the final administrative step in the restructuring of the company's equity. Following the split, the total number of issued shares in Hexagon Purus has been adjusted to 27,902,467. The company continues to trade on the Oslo Børs under the ticker symbol HPUR. Market Context Hexagon Purus, a provider of zero-emission mobility solutions including hydrogen cylinders and battery packs, utilizes the reverse split to consolidate its share base. For UAE investors and global market participants, such moves are typically designed to increase the per-share price and improve the stock's tradability among…