Freyr Battery enters into cooperation agreement with Teknovekst Invest

The company stated: “On April 18, 2024, FREYR Battery entered into a cooperation agreement with Teknovekst Invest AS, a private limited liability company incorporated under the laws of Norway, Vanir Invest Holding AS, a private limited liability company incorporated under the laws of Norway, Teknovekst AS, a company incorporated under the laws of Norway and Tore Ivar Slettemoen. Pursuant to the Cooperation Agreement, the Company’s board of directors and all applicable committees thereof approved the appointment of Tore Ivar Slettemoen as a member of the Board, with an initial term expiring at the Company’s 2024 Annual Meeting of Shareholders. In addition, the slate of director nominees recommended by the Board for election at the Company’s 2024 Annual Meeting will include Mr. Slettemoen. Under the terms of the Cooperation Agreement, until the later of the date that (i) Mr. Slettemoen ceases to be a member of the Board and (ii) is thirty (30) calendar days prior to the notice deadline under the Company’s Amended and Restated Bylaws for the nomination of non-proxy access director candidates for election to the Board at the Company’s 2025 annual meeting of stockholders, the Stockholders have agreed to customary standstill restrictions. In addition, the Stockholders have agreed to certain voting commitments, including supporting each director nominated and recommended by the Board for election at the 2024 Annual Meeting.”