NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN OR INTOAUSTRALIA ,CANADA ,JAPAN ,HONG KONG ,SOUTH AFRICA ORTHE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN. Reference is made to the stock exchange notice fromNorcod AS ("Norcod" or the "Company") on1 March 2024 with key information in relation to a subsequent offering (the "Subsequent Offering") of up to 1,333,333 new shares (the "Offer Shares ") at a subscription price ofNOK 12 per share (the "Offer Price "). The Offer Price is equal to the offer price in the private placement of new shares that was successfully placed on29 February 2024 (the "Private Placement"). The Company has resolved to proceed with the Subsequent Offering, which may raise total gross proceeds of up toNOK 15,999,996 . The Subsequent Offering will be directed towards existing shareholders in the Company as of the end of trading on29 February 2024 , as registered in Euronext Securities Oslo ("VPS") on4 March 2024 (the "Record Date"), who (i) were not allocated shares in the Private Placement, (ii) were not included in the pre-sounding phase of the Private Placement, and (iii) are not resident in a jurisdiction where such offering would be unlawful or, would (in jurisdictions other thanNorway ) require any prospectus, filing, registration or similar action (the "Eligible Shareholders"). Each Eligible Shareholder will be granted 0.119 subscription rights for each existing share registered as held by such Eligible Shareholder as of the Record Date. Each subscription right will give the right to subscribe for, and be allocated, one (1) share in the Subsequent Offering. Over-subscription is permitted, but the Subsequent Offering is limited to 1,333,333 shares. Subscription without subscription rights is not permitted. The subscription period for the Subsequent Offering commences on22 March 2024 at09:00 CET and ends on4 April 2024 at16:30 CET (the "Subscription Period"). The Company, in consultation with the Manager (as defined below), reserves the right to extend the Subscription Period for the Subsequent Offering at any time and without any prior written notice and at its sole discretion. The terms and conditions for the Subsequent Offering are set out in a national prospectus prepared by the Company in accordance with the rules in the Securities Trading Act chapter 7 (the "Prospectus"). The Prospectus is available at the Manager's website: www.abgsc.com Subscription shall primarily be made through the VPS online subscription system. Eligible Shareholders who are not able to use the VPS online subscription system, may subscribe by correctly completing and signing an application form (attached to the Prospectus), and delivering the same to the Manager (by mail or email) as set out in the application form. Subscription rights that are not used to subscribe forOffer Shares before the expiry of the Subscription Period will have no value and will lapse without compensation to the holder. The due date for payment of the Offer Shares is expected to be on8 April 2024 . The Offer Shares will, after registration of the share capital increase in theNorwegian Register ofBusiness Enterprises pertaining to the Offer Shares, be registered in the VPS in book-entry form and are expected to be delivered to the applicant's VPS account on or about9 April 2024 . The Offer Shares will have equal rights and rank pari passu with the Company's other shares. Completion of the Subsequent Offering is subject to (i) all necessary corporate resolutions being validly made by the Company, including the board of directors resolving to consummate the Subsequent Offering and issue and allocate the Offer Shares based on the authorization granted by the extraordinary general meeting of the Company held on15 March 2024 , and (ii) registration of the share capital increase pertaining to the Subsequent Offering with theNorwegian Register ofBusiness Enterprises and delivery of the Offer Shares to the subscribers in the VPS.ABG Sundal Collier ASA is sole manager for the Subsequent Offering (the "Manager").Advokatfirmaet Haavind AS is acting as legal counsel to Norcod. For more information, please contact:Christian Riber , CEO,Norcod AS Tel: +47 905 37 990 E-mail: cr@norcod.no About Norcod:Norcod AS' core business is commercial sea farming of cod but through ownership and partnerships is involved in the entire value chain. Norcod's existing fish farms are located in Mid-Norway with ideal conditions for cod. The company is contributing to blue ocean value creation with minimal impact on the environment while supporting local communities. Norcod is listed onOslo's Euronext Growth market. This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act and the EU Market Abuse Regulation (MAR).
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