Nel ASA, a company based in Oslo, Norway, made an announcement regarding the planned distribution of approximately 33.6 million shares in Cavendish Hydrogen ASA as a dividend in kind to Nel shareholders. The shares in Cavendish, another Oslo Stock Exchange-listed company, are set to be listed on the same exchange by June 12, 2024, pending fulfillment of the conditions required for listing. Additionally, Cavendish will conduct a live webcast on June 11, 2024, which will include a company presentation led by CEO Robert Borin and CFO Marcus Halland, followed by a question and answer session. The communication also stressed the legal aspects related to the sale of securities, highlighting restrictions in the United States and other jurisdictions, with a focus on qualified institutional buyers. It specified that the securities have not been registered under the U.S. Securities Act and can only be sold to qualified institutional buyers as defined in Rule 144A under the U.S. Securities Act. The overall sentiment of the announcement appears positive, emphasizing the forthcoming stock distribution and listing while ensuring compliance with legal regulations and restrictions.