20.12.2021 16:01:14 CET | Måsøval AS | Additional regulated information required to be disclosed under the laws of a member state

Reference is made to the announcement made on 17 November 2021 07:37:45 CEST regarding the share purchase agreement between Måsøval AS (the "Company") and Vartdal Invest AS (the "Seller") regarding the Company's purchase of 100% of the shares of the following companies (the "Acquisition"); • Aqua Farms Vartdal AS • Vartdal Fiskeoppdrett AS • Urke Fiskeoppdrett AS • Vartdal Fryseri AS • Western Seaproducts AS (together referred to as the "Vartdal Group")

The completion of the Acquisition took place today. Accordingly, the Company's general meeting has completed the share capital increases as announced 10 December 2021 11:00:01 CEST (the "Private Placement"), meaning that;

  • the Seller has subscribed for 4,761,904 new shares at an agreed subscription price of NOK 42 per new share, for a total subscription amount of NOK 199,999,968, which has been settled in full by sett-off against the receivable of NOK 199,999,968 as a part of the Acquisition; and
  • DNB Markets (as a part of DNB Bank ASA) has pursuant to the Private Placement subscribed for 9,828,010 new shares at a subscription price of NOK 40.7 per new share, to the total amount of NOK 400,000,007 settled by way of cash payment, for delivery to Måsøval Eiendom AS in accordance with the share lending agreement (announced 25 November 2021 11:56:56 CEST).

The Company will publish a new announcement immediately after the share capital increase has been registered in the Norwegian Register of Business Enterprises.  The Company's new share capital is NOK 30,627,111.75, comprising in total 122,508,455 shares, each with a nominal value of NOK 0.25.

The new shares will be listed on the Euronext Growth Oslo from issuance in the Central Securities Depository (VPS) and will be tradeable on or about 21 December 2021.

The consideration shares subscribed by the Seller (4,761,904 shares) are subject to a 6-month lock up effective from today. In addition, the Company, Måsøval Eiendom AS, the two minority owners of Pure Norwegian Seafood AS, the previous owner of Stokkøy Skjell AS and the minority owner of Gunnar Espnes Fiskeoppdrett AS, and members of the management and board are subject to a lock-up until 17 June 2022 (undertaken in connection with the IPO).

Advokatfirmaet Thommessen AS is acting as legal advisor to the Company.

Disclosure regulation:

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

For queries, please contact:

* Asle Rønning, CEO, 918 09 043, asle@masoval.no

* Gunnar Aftret, CFO, 91377389, gunnar@masoval.no

Disclosure regulation

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Contacts

  • Gunnar Aftret, CFO, 91377389, gunnar@masoval.no

About Måsøval AS

Måsøval is an integrated producer of Atlantic salmon with more than 50 years of operational experience. Located in Central Norway in the region west of Trondheim, Måsøval has both significant farming operations at sea and inhouse smolt production. Through its majority ownership in the processing and distribution company Pure Norwegian Seafood AS, Måsøval is processing and exporting high quality Atlantic salmon to a global marketplace.

Attachments

  • Download announcement as PDF.pdf

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