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    MOWI   NO0003054108

MOWI ASA

(MOWI)
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Real-time Oslo Bors  -  10:25 2022-08-08 am EDT
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GBL successfully completes the sale of 18,113,207 shares of Mowi ASA

06/22/2022 | 02:30am EDT
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, SOUTH AFRICA
OR ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY
APPLICABLE LAW. THIS ANNOUNCEMENT IS NOT AN OFFER OF SECURITIES FOR SALE IN ANY
JURISDICTION, INCLUDING THE UNITED STATES, CANADA, SOUTH AFRICA, AUSTRALIA OR
JAPAN. NEITHER THIS ANNOUNCEMENT NOR ANYTHING CONTAINED HEREIN SHALL FORM THE
BASIS OF, OR BE RELIED UPON IN CONNECTION WITH, ANY OFFER OR COMMITMENT
WHATSOEVER IN ANY JURISDICTION 

June 22, 2022: Groupe Bruxelles Lambert SA ("GBL"), an investment holding
company listed on Euronext Brussels, through its wholly-owned subsidiary Owen
Capital S.à.r.l., announces that it has successfully sold 18,113,207 shares of 
Mowi ASA ("Mowi").

GBL has successfully completed the sale of 18,113,207 shares of Mowi,
corresponding to 3.5% of Mowi's share capital, by way of an accelerated
bookbuilding process (the "Offering") at a price of NOK 222 per share,
representing approximately EUR 0.4 billion of proceeds. 

GBL retains 18,113,207 million shares in Mowi, equivalent to 3.5% of the
company's capital and voting rights. GBL's holding in Mowi has fallen below the
5% threshold pursuant to section 4-2 of the Norwegian Securities Trading Act. 

This transaction was done in the context of the group's portfolio rotation
strategy, which has entailed over  EUR 26 billion* from the beginning of 2012
through the first quarter of 2022. The stake sold represents approximately 2% of
the NAV as of March 31, 2022.

The sale generated a capital gain of nearly EUR 0.1 billion, which will not
impact GBL's consolidated net result, as per IFRS 9.    

GBL will be subject to a 90 calendar day lock-up agreement from the settlement
date of the Offering, which is expected to take place on June 24, 2022, with
respect to its remaining holding in Mowi, subject to certain exceptions or
waiver by the Bookrunner.

GBL is co-controlled by Ségolène Gallienne - Frère and The Desmarais Family
Residuary Trust. GBL does not hold any other rights on the Mowi shares. Goldman
Sachs Bank Europe SE acted as Sole Bookrunner in connection with this
transaction. ABG Sundal Collier acted as Placing Agent.

This press release is subject to the disclosure requirements pursuant to Section
4-2 the Norwegian Securities Trading Act.

*Excluding share buybacks.

For more information, please contact:

Xavier Likin,
Chief Financial Officer
Tel: +32 2 289 17 72
xlikin@gbl.be 

Alison Donohoe
Head of Investor Relations
Tel: +32 2 289 17 64
adonohoe@gbl.be 

About Groupe Bruxelles Lambert
Groupe Bruxelles Lambert ("GBL") is an established investment holding company,
with over sixty years of stock exchange listing, a net asset value of EUR 21.3
billion and a market capitalization of EUR 14.7 billion at the end of March
2022. GBL is a leading investor in Europe, focused on long-term value creation
and relying on a stable and supportive family shareholder base. GBL is both a
responsible company and investor and perceives ESG factors as being inextricably
linked to value creation.

GBL strives to maintain a diversified high-quality portfolio of listed and
private assets as well as alternative investments (through Sienna Investment
Managers, the group's alternative investment platform), composed of global
companies that are leaders in their sector, to which it can contribute to value
creation by being an active professional investor. 
GBL is focused on delivering meaningful growth by providing attractive returns
to its shareholders through a combination of growth in its net asset value, a
sustainable dividend and share buybacks.

GBL is listed on Euronext Brussels (Ticker: GBLB BB; ISIN code: BE0003797140)
and is included in the BEL20 index.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This release may contain certain forward-looking statements relating to the
group's future business, development and economic performance. Such statements
may be subject to a number of risks, uncertainties and other important factors,
such as but not limited to force majeure, competitive pressures, legislative and
regulatory developments, global, macroeconomic and political trends, the group's
ability to attract and retain the employees that are necessary to generate
revenues and to manage its businesses, fluctuations in currency exchange rates
and general financial market conditions, changes in accounting standards or
policies, delay or inability in obtaining approvals from authorities, technical
developments, litigation or adverse publicity and news coverage, each of which
could cause actual development and results to differ materially from the
statements made in this release. GBL assumes no obligation to update or alter
forward-looking statements whether as a result of new information, future events
or otherwise.

IMPORTANT REGULATORY NOTICE 

This announcement is not for publication, distribution or release, directly or
indirectly, in or into the United States of America (including its territories
and possessions, any state of the United States of America and the District of
Columbia), Canada, South Africa, Australia or Japan or any other jurisdiction
where such an announcement would be unlawful. The distribution of this
announcement may be restricted by law in certain jurisdictions and persons into
whose possession this document or other information referred to herein comes
should inform themselves about and observe any such restriction. Any failure to
comply with these restrictions may constitute a violation of the securities laws
of any such jurisdiction. 

The securities referred to herein have been and will be offered only to
qualified institutional buyers in reliance on Section (4)(a)(1½) of the U.S.
Securities Act of 1933, and to non-U.S. persons outside the United States
pursuant to Regulation S under the Securities Act, subject to prevailing market
and other conditions. There is no assurance that the offering will be completed
or, if completed, as to the terms on which it is completed. The securities
referred to herein have not been and will not be registered under the U.S.
Securities Act of 1933, and may not be offered or sold in the United States
without registration thereunder or pursuant to an available exemption therefrom.
Neither this document nor the information contained herein constitutes or forms
part of an offer to sell, or the solicitation of an offer to buy, securities in
the United States. There has been and will be no public offer of any securities
in the United States or in any other jurisdiction. This press release does not
constitute an offer to sell or the solicitation of an offer to buy any
securities, nor shall it constitute an offer, solicitation or sale in any
jurisdiction in which such offer, solicitation or sale would be unlawful.

No representation or warranty, express or implied, is or will be made as to, or
in relation to, and no responsibility or liability is or will be accepted by the
banks (each, a "Bank") or by any of their respective affiliates or agents as to,
or in relation to, the accuracy or completeness of this announcement or any
other written or oral information made available to or publicly available to any
interested party or its advisers, and any liability therefore is expressly
disclaimed. 

In connection with the offering of the shares of Mowi ASA (the "Shares"), each
Bank and any of its respective affiliates acting as an investor for their own
account may take up as a proprietary position any Shares and in that capacity
may retain, purchase or sell for their own account such Shares. In addition,
each Bank or its respective affiliates may enter into financing arrangements and
swaps with investors in connection with which any Bank (or its affiliates) may
from time to time acquire, hold or dispose of Shares. The Banks do not intend to
disclose the extent of any such investment or transactions otherwise than in
accordance with any legal or regulatory obligation to do so.

The information contained in this announcement is for background purposes only
and does not purport to be full or complete. No reliance may be placed for any
purpose on the information contained in this announcement or its accuracy or
completeness. This announcement does not purport to identify or suggest the
risks (direct or indirect) which may be associated with an investment in the
Shares. Any investment decision in connection with the Shares must be made
solely on the basis of all publicly available information relating to the Shares
(which has not been independently verified by the Banks).

The Banks are acting on behalf of the selling shareholder and no one else in
connection with any offering of the Shares and will not be responsible to any
other person for providing the protections afforded to clients of the Banks nor
for providing advice in relation to any offering of the Shares.

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

Stocks mentioned in the article
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MOWI ASA -1.90% 221.7 Real-time Quote.8.29%
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Financials
Sales 2022 5 099 M 5 179 M 5 179 M
Net income 2022 793 M 805 M 805 M
Net Debt 2022 1 308 M 1 328 M 1 328 M
P/E ratio 2022 14,5x
Yield 2022 4,33%
Capitalization 11 471 M 11 811 M 11 651 M
EV / Sales 2022 2,51x
EV / Sales 2023 2,49x
Nbr of Employees 10 484
Free-Float 85,3%
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Mean consensus OUTPERFORM
Number of Analysts 10
Last Close Price 22,61 €
Average target price 25,53 €
Spread / Average Target 12,9%
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Managers and Directors
Ivan Olle Vindheim Chief Executive Officer
Kristian Ellingsen Chief Financial Officer
Ole-Eirik Ler°y Chairman
Catarina Martins Chief Technology & Sustainability Officer
ěyvind Oaland Chief Technology Officer
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