Are there any tax or regulatory implications for existing shareholders due to the capital reduction?

Tax and regulatory impact

A ker Horizons’ decision to slash the nominal share value from NOK 1 to NOK 0.01 is a purely accounting‑driven capital‑reduction. It does not involve a cash distribution, a share‑buy‑back, or a change in the number of outstanding shares, so there is no taxable event for existing shareholders at the moment of the filing. In Norway, a capital‑reduction of this type is treated as a balance‑sheet adjustment; shareholders do not incur capital‑gain tax, nor is there a withholding requirement. The only regulatory step is the mandatory filing with the Norwegian Register of Business Registrations (Foretaksregisteret) and the update of the share‑nominal value in the company’s articles—both are handled by the company, not the investor.

Market and trading implications

From a fundamentals perspective, the reduction cleans up the equity structure and improves the “share‑capital to equity” ratio, but it does not alter the company’s cash‑flow, assets, or earnings. Consequently, the market will likely re‑price the stock to reflect the new per‑share nominal value, creating a short‑term adjustment gap (often a 1–2 % drift on the day of the announcement and the subsequent filing). Technically, expect a modest increase in volatility around the June‑6 EGM and the June‑7 recording date; the price may briefly break below the prior low‑volume support as the “old” NOK 1‑denominated price is divided by 100.

Actionable insight

• Short‑term: Anticipate a modest, predictable price correction (≈ ‑1 % to ‑2 %) as the market aligns the quoted price with the new nominal value. Traders can capture this move with a tight‑‑stop‑loss scalp or a short‑term “buy‑the‑dip” if the correction overshoots the adjusted support level.
  
• Medium‑term: Since the capital‑reduction carries no cash impact, the stock’s valuation will continue to be driven by Aker Horizons’ underlying business fundamentals (renewable‑energy pipeline, project contracts, and cash‑flow generation). Maintain the same fundamental exposure; the capital‑reduction itself does not create a new catalyst.
  

In short, no immediate tax or regulatory burden falls on shareholders, but be prepared for a brief, technical price adjustment as the market normalises the share‑price to the new NOK 0.01 nominal value.