In December, Better Energy announced that due to "a perfect storm of negative market conditions" it had to request reconstruction, as it was not possible to pay the company's debt before there was clarity about a capital raise.
The reconstruction now means that ATP, which in 2022 bought 15 percent of the shares in Better Energy for 700 million DKK, has resigned from the energy company's board of directors, where they were represented by Claus Wiinblad, head of Danish shares at ATP. This is reported by Finans.dk.
"Up until the reconstruction, ATP worked hard to find a broadly based solution with lenders and partners so that the company could avoid reconstruction, which unfortunately did not succeed. The ongoing process involves the company's large creditors to a greater extent, which is why our role is different than before. This is the reason why we are no longer represented on the board of directors," writes Claus Wiinblad in an email.
Earlier this week, Better Energy launched its capital hunt in earnest. This process will run until February 7, 2025. During the reconstruction process, Better Energy will maintain the operation of existing solar parks and focus on increased cost efficiency.
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