Magnora ASA ( (SVMRF) ) just unveiled an announcement.
Shell UK Ltd. has restarted production at the Penguins field in the UK North Sea, utilizing a facility designed by Magnora’s legacy business, resulting in a USD 4.3125 million milestone payment to Hermana Holding ASA. Magnora benefits from this milestone in its accounts but sees no change in cash flow, as it transferred its rights to legacy revenues to Hermana Holding ASA following a demerger.
More about Magnora ASA
Magnora ASA is a renewable-energy group that focuses on developing wind, solar, and battery storage projects. It operates primarily in Europe and Africa through various portfolio companies, and it also maintains financial interests in legacy businesses and holdings, including Hermana Holding ASA.
YTD Price Performance: -4.08%
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $151M
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