The combination is planned to be carried out by all shareholders of Phuel Oil Tools transferring their shares to Dwellop. In consideration for the shares in Phuel Oil Tools, the shareholders will receive new shares in Dwellop

Subject to completion of the combination, the existing shareholders of Dwellop will hold 71.60% of the shares of the combined entity, while the remaining 28.40% of the shares will be held by the previous shareholders of Phuel Oil Tools.

Management of Dwellop believes that the combination and the related growth opportunities will create long term value for the shareholders and Dwellop will now have the chance to expand its business portfolio and get access to new international markets.

The core team comprised of Madeleine Østenstad, Alexander Bernhard Wintervold and Ole Henrik Wille.

The transaction is further described on notc.no (ticker DWELLOP).