Note 4 Composition of the group Fiven ASA and the following subsidiaries make up the composition of the group and are included in the consolidated financial statements. Company Functional Currency Country of incorporation 31 Dec 2022 Equity Interests 31 Dec 2021 Equity Interests Owner Fiven Norge AS NOK Norway 100% 100% Fiven ASA Fiven GmbH EUR Germany 100% 100% Fiven ASA Materiaux Ceramiques SA EUR Belgium 100% 100% Fiven ASA Carbeto de Silício Sika Brasil Ltda BRL Brazil 100% 100% Fiven ASA Fiven North America Inc USD US 100% 100% Fiven ASA Changes in composition of the Group In November 2022 Fiven sold its two Venezuelan subsidiaries for 1 (one) EUR. These subsidiaries have never been included in the consolidated financial statements. The assessment was that although the two Venezuelan subsidiaries were controlled by the Group as defined in IFRS 10, as they were integrated cost centers under the business model of the Belgian production facility there was no material impact on the financial information being relevant and faithfully represented by their exclusion. The sale was at no material consideration and there was no gain or loss on sale, and the disposal has no impact on the consolidated financial statement. The following disposed subsidiaries have not been included in the consolidated financial statements. Company Functional currency Country of incorporation 31 Dec 2022 Equity interests 31 Dec 2021 Equity interests Owner Materials Ceramicos CA USD Venezuela 0% 100% Fiven Norge AS Curburo del Caroni CA VEF Venezuela 0% 100% Materials Ceramicos CA Fiven Annual Report 2022 Financial statements 43
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