Enersense has completed the Megatuuli transaction and the new Enersense shares have been registered with the Trade Register

Enersense International Plc (“Enersense”) announced on 31 January 2022 that the Board of Directors of Enersense decided on a directed share issue in relation to the acquisition of Megatuuli Oy (“Megatuuli”), an onshore wind farm developer (the “Share Transaction”) and the time schedule and impacts of the Share Transaction. The Share Transaction has been completed today 1 February 2022.

A total of 2 598 331 new Enersense shares were today issued as consideration to the sellers and subscribed at the completion of the Share Transaction against the transfer of Megatuuli’s voting shares. The new Enersense shares have been registered with the Trade Register today 1 February 2022. As announced earlier, the shares are subject to a lock-up restriction and security arrangement concerning 50% of the shares issued as consideration to Megatuuli’s sellers. The restrictions will be lifted 24 months after the completion of the Share Transaction.

Following the registration of the new shares, the number of Enersense’s shares amounts to 15 996 060. All shares have equal voting rights. The new shares are expected to be admitted to trading at the Nasdaq Helsinki on 3 February 2022.

Jussi Holopainen, CEO, Enersense International Plc:   

 “The acquisition of Megatuuli is of great value to Enersense as it extends our understanding and capabilities in the wind power value chain. Over the coming years, the wind power market will experience strong growth and, in terms of the entire market, it is important to have broad-based understanding under the same roof of the different phases of the project from design to implementation.”   

The Share Transaction and its implications on Enersense have been described in the stock exchange release issued by Enersense on 31 January 2022.