Austevoll Seafood ASA : Sale of shares in Lerøy Seafood Group ASA
March 18, 2016 at 04:08 am EDT
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Released: 18. mars 2016
Press release (PDF)
Austevoll, 18 March 2016
Austevoll Seafood ASA ('Austevoll') has today sold 2,750,000 shares (5%) in Lerøy Seafood Group ASA at a price of NOK 355 per share, which equals gross proceeds of NOK 976.3 million. After the transaction, Austevoll owns 31,394,281 shares in Lerøy Seafood Group ASA, corresponding to approximately 57.52% of the share capital in Lerøy Seafood Group ASA.
The Board of Austevoll intends to propose for the ordinary shareholders meeting in the company that the net proceeds from the transaction will increase the recommended dividend payment for 2015 to NOK 7.00 per share, from the previously announced NOK 2.20 per share. The Board of Austevoll is very satisfied with the ownership in Lerøy Seafood Group ASA, and will, through its remaining significant ownership, contribute to further development and value creation. Increased free float in the Lerøy share is expected to improve the liquidity in the share going forward.
Austevoll has entered into a customary lock up of the remaining of the shares for a period of 90 calendar days from closing of the transaction.
Pareto Securities AS acted as Sole Bookrunner for the transaction.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
For further information, please contact:
Helge Singelstad, Chairman of the Board +47 91 66 10 01
Arne Møgster, CEO +47 91 66 10 49
Austevoll Seafood ASA issued this content on 18 March 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 18 March 2016 08:07:59 UTC
Original Document: http://www.auss.no/Default.aspx?ID=82&PID=102&M=NewsV2&Action=1&NewsId=305
Austevoll Seafood ASA (AUSS) is a Norway-based holding company. The Company is involved in pelagic operations within fisheries, production of fishmeal and fish oil, and frozen pelagic consumer products. The Company has sales operations in Norway, Europe, Asia, the USA and South America. Its activities are divided into operating segments and reflect its portfolio companies: Leroey Seafood Group ASA, which is involved in fish farming; Austral Group S.A.A., that is engaged in the production of fishmeal, fish oil, canned fish and frozen fish; Foodcorp Chile S.A., that is engaged in production of frozen fish, canned fish, fishmeal and fish oil.; Br. Birkeland AS, that holds pelagic fishing licences utilised by two purse-seiner fishing vessels; Br. Birkeland Farming AS, that holds seven salmon farming licences in the Western Region of Norway and the joint venture Pelagia Holding AS, that is engaged in production of fishmeal, fish oil, Omega-3 oil and frozen fish for direct human consumption.