Linde Stock Price, News & Analysis

Lundin Energy has announced the completion and commercial handover of the Metsälamminkangas (MLK) wind farm, Finland's third largest. It is expected to generate approximately 400 GWh annually from 24 5.5 MW turbines, holding a 50% stake alongside Sval Energi. The wind farm's construction was completed on budget by OX2 AB, with delays compensated through liquidated damages. This facility is significant for Lundin's Decarbonisation Plan as it transitions toward renewable energy, benefiting from high spot electricity prices in the region.

The Annual General Meeting (AGM) of Lundin Energy approved the combination of its E&P business with Aker BP and a quarterly cash dividend of USD 0.5625 per share. The merger, contingent on Aker BP's AGM approval and government clearances, is targeted for completion on June 30, 2022. Shareholders will receive shares in Lundin Energy MergerCo AB prior to the merger. The AGM also re-elected the Board of Directors and authorized share sales on Nasdaq Stockholm. Additionally, two minority shareholder proposals were rejected.

Lundin Energy has proposed a quarterly cash dividend of USD 0.5625 per share, totaling SEK 5.30 per share, amounting to approximately MSEK 1,508 or MUSD 160 for the first installment. The payment is subject to approval at the 2022 Annual General Meeting (AGM) on 31 March 2022. The dividend is expected to be paid on 7 April 2022, with the ex-dividend date set for 1 April 2022. This proposal also includes a conditional Lex Asea distribution tied to Lundin's E&P business.

Lundin Energy highlights the publication of an Exemption Document by Aker BP regarding their proposed Combination of Lundin Energy's E&P business with Aker BP. The document outlines relevant risk factors, a business overview of both companies, and unaudited pro forma financial statements for the year 2021, assuming the Combination occurred on January 1, 2021. The deal requires approval from both companies' Annual General Meetings and necessary governmental clearances, targeting completion in late Q2 2022.

Lundin Energy AB is set to publish a company description for its new renewables-focused business, which will operate independently following the proposed merger with Aker BP. It will feature three high-quality assets in the Nordics, generating about 600 GWh annually. The business will be debt-free and has secured $130 million in cash for project development, expected to generate free cash flow starting late 2023. A focus on sustainable energy and capital for growth projects positions the company advantageously amidst the EU's net-zero ambitions.

Lundin Energy has released a report detailing the payments made to governments by the company and its subsidiaries during 2021. The report underscores Lundin Energy's commitment to transparency and fiscal responsibility. For full access, the report is available for download on Lundin Energy's official website. This disclosure adheres to the Swedish Securities Markets Act. Stakeholders can learn more about Lundin Energy’s operational strategy, which involves a focus on sustainability and growth while managing risks associated with the oil and gas sector.

Lundin Energy AB has announced details for its Annual General Meeting (AGM) scheduled for 31 March 2022. Shareholders can exercise their voting rights in person, by proxy, or via postal voting by registering by 25 March 2022. A significant agenda item includes the approval of a quarterly cash dividend of USD 0.5625 per share, totalling USD 160 million per quarter. Additionally, the Board will seek approval for a merger with Aker BP ASA and the distribution of shares in Lundin Energy MergerCo AB as part of the merger process.

Lundin Energy AB announced plans to present its outlook for the Renewables Business on 7 March 2022. This follows the intended separation of the Renewables Business as a standalone entity upon completing the combination of Lundin Energy's Exploration & Production (E&P) assets with Aker BP, projected for the end of June 2022. A webcast will occur at 16:00 CET on the presentation date, providing insight into future strategy and management. The presentation will be available on their website prior to the event.