Aker Horizons' Hidden Treasure: Act Now to Unlock Merger Value Before It’s Too Late

The clock is ticking for Aker Horizons shareholders. With the June 6 Extraordinary General Meeting (EGM) fast approaching, approval of the dividend-in-kind proposal and strategic merger is not just a vote—it’s a decision that could unlock billions in hidden value or leave shareholders stranded. Let’s dissect why this moment is pivotal and why waiting is a risk you can’t afford.

The Dividend-in-Kind: Your Direct Ticket to Merger Wealth

The proposed dividend-in-kind distribution is the linchpin of this opportunity. By voting YES, shareholders will receive shares in Aker Horizons Holding AS (AKH Holding), which will then merge with Aker MergerCo AS. This two-step process ensures shareholders gain direct exposure to the merger’s full value, including:
- NOK 0.267963 in cash per share, providing immediate liquidity.
- 0.001898 shares in Aker ASA per share, tying investors to Norway’s industrial powerhouse.

Why This Matters: Without shareholder approval by June 4, the dividend distribution is blocked. Shareholders would remain locked in Aker Horizons’ volatile stock, which has already plummeted 56% year-to-date, while rivals like Aker ASA (ticker: AKER) soar. The EGM is your chance to pivot into a more stable, diversified portfolio.

The Merger’s Secret Weapon: Auditor Confirmation and Liquidity Relief

The merger’s success hinges on two critical factors:
1. Auditor Validation: KPMG’s confirmation of Aker BP’s reserves and resources, required by Q2 2025, has already been met. This removes a major risk, as the merger’s 1:1.37 exchange ratio is now on solid ground.
2. Debt Reduction: The redemption of the NOK 2.5 billion Green Bond by early June and the 93% repurchase of convertible bonds slashes interest burdens. This frees up cash for high-growth projects like AI data centers in Narvik and renewable energy ventures.

The Data Speaks: Aker Horizons’ stock has underperformed due to market uncertainty and debt concerns. Approval of the EGM could narrow this gap, as shareholders gain access to Aker ASA’s industrial clout and projects like Mainstream Renewable Power’s South African wind farms.

The Risks of Inaction: Delayed Value and Missed Opportunities

Rejecting the proposal would trigger a cascade of negatives:
- Lost Liquidity: No cash payouts or Aker ASA shares. Investors remain tethered to Aker Horizons’ volatile stock.
- Stagnant Projects: Debt-heavy ventures like the green ammonia project and Narvik’s AI infrastructure could stall without merger-backed funding.
- Market Discounting: A “no” vote would likely send the stock spiraling further as investors price in missed synergies.

The merger’s strategic rationale is clear: Aker ASA’s expertise and capital can turn Aker Horizons’ assets—from carbon capture to offshore wind—into profit engines. Without approval, this synergy dies.

Act Now: Registration Deadline is June 4

This isn’t a theoretical decision—it’s a binary choice with real consequences. Here’s your roadmap:
1. Register by June 4 at 16:00 CEST to vote.
2. Vote YES to unlock the dividend and merger benefits.
3. Monitor the EGM outcome closely—approval could trigger a short squeeze as bears realize their bet against Aker Horizons is suddenly over.

Final Word: This Is Your Moment

The EGM is the final hurdle to monetize Aker Horizons’ potential. With auditor risks cleared, debt under control, and Aker ASA’s backing secured, approval is a no-brainer. Miss the vote, and you’ll miss the upside.

The question isn’t whether to approve—it’s how much you stand to lose by waiting.

Deadline Reminder: Registration closes June 4, 2025, at 16:00 CEST. Vote YES to seize control of your future.

For further details, contact Aker Horizons Investor Relations at +47 97 11 82 92 or visit their investor portal.