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    NOHAL   NO0003058109

NORDIC HALIBUT AS

(NOHAL)
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Nordic Halibut AS : - Share option program and mandatory notification of trade

09/26/2021 | 05:01pm EDT
Averøy, 26 September 2021.

The Board of Directors of Nordic Halibut AS ("Nordic Halibut" or the "Company")
has resolved to implement a share option program for management and certain key
employees of the Company.

The share option program is implemented to increase the Company's ability to
retain, reward and attract talent to help realise the Company's ambitious growth
plan. It is considered beneficial for all Company stakeholders to implement an
incentive for key employees to have ownership in the Company. 

The program comprises 600.000 share options in total. Each option will give the
option holder the right to subscribe or purchase one share in the Company at the
exercise price, which is set to NOK 22.50, equal to the subscription price in
the private placement of shares immediately prior to the listing of the
Company's shares on 26 April 2021.
 
The share options will vest for a period of two years starting at the later of
24 September 2024 and the date when the Company has reached certain performance
targets.

Share options that are not exercised within the exercise period will lapse and
be of no value to the option holder. The options are non-tradable and
conditional upon i.a. the option holder being employed with the Company and not
having resigned or being terminated for cause prior to the vesting date. 

The Company has the right, in its sole discretion, to settle any vested share
options by transfer of existing shares, new shares or a mix of the two. Further,
the Company has the right to settle any the economic interest in any vested
share option in cash.

Issuing of new shares in the future for the purpose of the options program will
depend on required corporate authorizations being in place at the time of
exercise of the options. 

375.000 of the share options have been granted to the following primary insiders
of the Company:
Edvard Henden, CEO, has been granted 150.000 share options. Following this
grant, he holds 10.000 shares in the Company and 150.000 share options. 
Kenneth Meyer, CFO, has been granted 75.000 share options. Following this grant,
he holds 2.000 shares in the Company and 75.000 share options. 
Ann Kristin Fladset, COO, has been granted 75.000 share options. Following this
grant, she holds 30 shares in the Company and 75.000 share options. 
Atle Jacobsen, CCO, has been granted 75.000 share options. Following this grant,
he holds 0 shares in the Company and 75.000 share options. 

In addition, certain key employees have been granted a total of 125.000 share
options and 100.000 share options are yet to be granted.

For more information, please contact:
Chairman of the Board of Directors Jan Erik Sivertsen,
jan.erik.sivertsen@kontrari.com, +47 90 61 64 69
CEO Edvard Henden, edvard@nordichalibut.no, +47 91 14 11 65

The information included in this announcement is defined as inside information
pursuant to MAR article 7 and is publicly disclosed in accordance with MAR
article 17 and 19 and section 5 -12 of the Norwegian Securities Trading Act. The
announcement is made by Business Controller Kenneth Meyer on 26 September 2021
at 23:00 CET.

About Nordic Halibut:
Nordic Halibut AS is a company based in Western Norway and with headquarters in
Averøy, Nordmøre. The Company is a leading farmer of Atlantic halibut and has a
fully integrated value chain from genetics to sales. Due to the significant
breakthrough in early phase production the company is currently implementing a
growth plan to expand production volumes considerably. Nordic Halibut will
create shareholder value by pursuing value accretive organic growth through
increased production.

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

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Financials
Sales 2021 47,7 M 5,67 M 5,67 M
Net income 2021 -62,4 M -7,43 M -7,43 M
Net Debt 2021 4,42 M 0,53 M 0,53 M
P/E ratio 2021 -11,3x
Yield 2021 -
Capitalization 9,16 M 1,10 M 1,09 M
EV / Sales 2021 0,28x
EV / Sales 2022 0,27x
Nbr of Employees 42
Free-Float 7,70%
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Mean consensus OUTPERFORM
Number of Analysts 2
Last Close Price 28,73 NOK
Average target price 40,00 NOK
Spread / Average Target 39,2%
EPS Revisions
Managers and Directors
Edvard E Henden Chief Executive Officer
Kenneth Meyer CFO & Group Business Controller
Jan Erik Sivertsen Chairman
Tommy Bjerke Chief Operating Officer
Vegard Gjerde Director
Sector and Competitors