ReFuels Ownership

Who are the major shareholders and have insiders been buying or selling?

Recent Insider Transactions

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

What is the ownership structure of REFL?
Owner Type	Number of Shares	Ownership Percentage
General Public	1,560,888	2.58%
Institutions	2,388,080	3.95%
Private Companies	28,221,093	46.7%
Individual Insiders	28,238,521	46.7%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Top 14 shareholders own 97.42% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
24.8%	Baden Gowrie-Smith	14,953,651	NOK 221.3m	0%	no data
19.9%	Cng Services Assets Ltd	12,034,083	NOK 178.1m	0%	no data
10.4%	WCP Investments Limited	6,297,573	NOK 93.2m	0%	no data
9.32%	Philip Fjeld	5,629,450	NOK 83.3m	0%	no data
7.96%	Borumajobe Limited	4,806,962	NOK 71.1m	0%	no data
7.32%	Christopher Barter	4,424,751	NOK 65.5m	0%	no data
5.31%	Arcalis Guernsey Limited	3,210,050	NOK 47.5m	0%	no data
2.17%	Citigroup Inc.,Banking and Securities Investments	1,309,533	NOK 19.4m	0%	no data
2.12%	Rakesh Patel	1,282,120	NOK 19.0m	0%	no data
1.79%	Chrysalis Investments Pty Ltd, Asset Management Arm	1,078,547	NOK 16.0m	0%	39.97%
1.74%	Ian Roughley	1,053,641	NOK 15.6m	0%	no data
1.68%	Jonathan E. Fielding Living Trust	1,014,625	NOK 15.0m	0%	no data
1.48%	Nicholas Reid	894,908	NOK 13.2m	0%	no data
1.42%	Thornaby Limited	857,800	NOK 12.7m	0%	no data

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/03/10 06:40
End of Day Share Price	2025/03/10 00:00
Earnings	2024/12/31
Annual Earnings	2024/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

ReFuels N.V. is covered by 2 analysts. 1 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Adam Forsyth	Longspur Clean Energy
Max Campbell	Longspur Clean Energy