Øyvind Paaske
Chief Financial Officer

Good afternoon, and welcome to the presentation of Akastor's first quarter results. My name is Oyvind Paaske, CFO, and I'm joined today by our CEO, Karl Erik Kjelstad.

Before we start, a brief practical note, following the successful IPO completed in April, HMH is now a listed company and reports independently. HMH held its own Q1 earnings call last week, including a full operational and financial walk-through. For those interested in more detail on HMH specifically, their Q1 release as well as webcast replay are available on their web page.

As a result, today's presentation from Akastor includes less detailed coverage of HMH operations. We'll take questions at the end of the session, and you can submit them at any time through the online Q&A function.

To kick things off, Karl will walk us through the headline developments for the quarter. Karl, over to you.

Karl Kjelstad
Chief Executive Officer

Thank you, Oyvind, and good afternoon, and thank you to all for joining us today. Let me start with the key highlights on Slide #2. Akastor continues to be in a solid financial position. We maintain a positive net cash position and have no drawings on our corporate RCF. Against this backdrop, we are pleased to announce another cash distribution of NOK 1.5 per share, supported by the successful management IPO with HMH on NASDAQ, that generated a significant cash proceeds to Akastor. This marks our fourth consecutive quarterly distribution to our shareholders. And over the past year, we have distributed NOK 722 million or NOK 2.65 per share to our shareholders. This fully confirms our strategy of returning excess capital while maintaining a sound capital structure.