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Ethiopian miner Akobo Minerals’ board of directors has decided to convert the company’s previously announced convertible loans of NOK 25.5 million and NOK 11 million in accordance with the terms of the loan agreements.
According to the company, the conversion will result in the issuance of 26,383,292 new shares in the company each with a quota value of SEK 0.03716 (rounded off), by way of a directed set-of issue.
In addition, the subscription price will be NOK 1.74 (USD 0.17) per New Share in the NOK 25.5 convertible loan and NOK 1.43 (USD 0.14) per New Share in the NOK 11 million convertible loan.
“The subscription price has been decided based on the terms of the convertible loan agreements, including the subscription price in the directed share issue to Ethiopian Investment Holdings as announced on 11 August 2025,” said Jørgen Evjen, Chief Executive Officer of Akobo Minerals
Meanwhile a separate stock exchange notice will be published once the share capital increase pertaining to the issuance of such new shares has been registered with the Swedish companies registration office.
