Company Announcements

Oslo, 10 November 2024 

Reference is made to the Extraordinary General Meeting in the Company on 10 November 2023, which resolved to issue convertible loans with a total par value of NOK 4,500,000(the “Convertible Loan), whereby the Convertible Loan, plus accrued interest, would be convertible into shares prior to the maturity date on 10 November 2024 at a conversion price of NOK 0.5250 per share.

A lender of a total principal amount of NOK 1,500,000 of such Convertible Loan has provided his notification of conversion to the Company and requested that his convertible loan, plus accrued interest, is converted into shares in the Company. 

The Board therefore resolved on 10 November 2024 to approve the conversion of a convertible loan in the principal amount of NOK 1,500,000, plus accrued interest, and the resulting issuance of a total of 3,003,131 new shares in the Company to such lender. 

Upon registration of the share capital increase associated with the conversion of the convertible loan in the Norwegian Register of Business Enterprises, the Company's share capital will be NOK 350,114,738.50 divided into 700,229,477 shares, each having a par value of NOK 0.50. 

For more information, please contact: 

Lars Eikeland, Chief Executive Officer E- mail: lars.eikeland@ensurge.com(mailto:lars.eikeland@ensurge.com) 

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.