Norway Royal Salmon ASA (NRS): NRS cancels the acquisition of MAB growth following the resource rent tax proposal

Earlier this year, NRS purchased 370 tonnes of maximum permitted biomass for a
total value of NOK 62 million. The board has decided to cancel the purchase of
this capacity. This is caused by the Government's proposal for resource rent tax
of 40% and a total effective tax rate of 62%.

Over the past few years, NRS has invested significant amounts in strengthening
the value chain through a new smolt facility in Dåfjord in Karlsøy municipality,
development of the sea locations and investing in aquaculture at sea through
Arctic Offshore Farming. The introduction of a resource rent tax will lead to a
significantly weakened investment ability for the company. For the time being,
the company's larger future investments are therefore being put on hold. This
means that the planned expansion of the smolt facility in Dåfjord of NOK 400
million is postponed.

 -NRS has a proud history, and over the years we have developed our farming
activity in Troms and Finnmark. We want to develop the company further and
create jobs at the coastal areas in northern Norway. We are always looking for
growth opportunities, but now we don't dare. A good tax system must be both fair
and predictable. The government's proposal for resource rent tax is neither and
puts new investments on hold all along the coast. Such unpredictable framework
for the aquaculture industry means that the risk is considered as too high, says
CEO Charles Høstlund.

For more information, please contact:

-CEO Charles Høstlund, [phone]

[e-mail]

.

About Norway Royal Salmon:

The Norway Royal Salmon (NRS) group owns 36 085 tonnes MAB for salmon farming
located in Troms and Finnmark, and 21 800 tonnes MAB for salmon farming and 5
300 MAB for trout farming on Iceland through the company Arctic Fish. In
addition, the group has minority interest in two associated Norwegian fish
farming companies which together own nine fish farming licenses. NRS is an
attractively positioned fish farming group, which offers salmon to the market
through its own sales organisation. For further details, please visit
www.norwayroyalsalmon.com.

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange