Knox Energy Solutions AS - Company update

(Oslo, 1 August 2024) Knox Energy Solutions AS (Knox, OSE: KNOX) had been asked by the Oslo Stock Exchange to go through a process equal to what is required for a new listing in terms of documentation and process.

This requirement aims at rectifying the mistake made by the company prior to the April reverse take-over transaction, when it omitted to complete all the formalities for acceptance from the stock exchange.

Knox under its new Board is close to meeting the documentary requirements including submission of independent expert reports for a continuous listing. The main part of the remaining work is completion of final reports on the main asset of the company and status of the company itself.

Knox had asked for an extension of the deadline for completion of the submissions of July 26, 2024 to August 15, 2024. The stock exchange has on July 31, 2024, advised they will decide on August 12, 2024, regarding a potential de-listing followed by an approximately six weeks of continued trading on the stock exchange. 

The company is confident that the outstanding submissions and formalities will be duly completed in the coming weeks for it to continue to trade normally. 

The company announced on July 25 a LOI with the owners of a sizeable underdeveloped producing heavy oil project in Egypt, as part of its plans and long-term strategy.

Work will continue according to the company’s plans and on the opportunity pipeline and we remain excited about the prospects for the company and its shareholders.

For further information, please contact:  

Geir Aune, Chairman, ga@knox-energy.com  

Harald B. Hansen, CEO, hh@knox-energy.com   

About Knox | knox-energy.com

Knox Energy Solutions AS is an international energy company, with a holding in Rapid Oil Production Ltd. (Rapid), a UK-based oil and gas company backed by a highly experienced board and management team. Knox Energy Solutions AS is listed on Euronext Growth under the ticker KNOX.