Frøya, Norway, 27 February 2025:
Reference is made to the announcement by Kaldvik AS ("Kaldvik", the "Company")
on 20 December 2024 regarding a potential acquisition of certain key assets in
the fish farming value chain on the east-coast of Iceland, from Heimstø AS
("Heimstø") and Osval ehf. ("Osval").
Kaldvik has today entered into definitive agreements to acquire (i) 100% of the
shares in Mossi ehf., which owns the property and building hosting Djupskel efh.
("Mossi"), from Heimstø, (ii) 100% of the shares in Djupskel ehf., the producer
of fish boxes in Djupivogur ("Djupskel"), from Osval, a company owned by Heimstø
(53.6%) and Osnes ehf. (46.4%) and (iii) 33.3% of the shares in Bulandstindur
ehf., the fish processing facility in Djupivogur ("Bulandstindur"), from Osval,
in which Kaldvik already owns 67.7% of the shares (jointly, the "Targets" and
the "Transaction").
The Company expects the transactions to complete no later than end of Q1 2025.
For the sake of completeness, note that the consideration shares for the
purchase of the shares in Mossi possibly will be issued in H2 2025. The
reference in the 20 December 2024 announcement to the use of the current board
authorization, is therefore likely only relevant for the issue of the
consideration shares to be issued to settle the purchase price for the shares in
Djupskel and Bulandstindur.
Pareto Securities AS has acted as financial advisor, and AGP Advokater AS as
legal advisor, to the Company in the negotiations of the terms of the
Transaction. ABG Sundal Collier ASA has acted as financial advisor, and
Advokatfirmaet Thommessen AS as legal advisor, to Heimstø and Osnes in the
negotiations of the terms of the Transaction.
For further information, please contact:
Roy-Tore Rikardsen, CEO: +354 791 0006 (mobile)
Robert Robertsson, CFO: +354 843 0086 (mobile)
About Kaldvik
Kaldvik AS is one of the leading salmon farmers in Iceland and one of few salmon
farmers in the world with the highly sought after AquaGAP certification which
ensures environmentally-friendly production. Kaldvik AS has a well-developed and
fully integrated value-chain controlling all steps from hatchery to sales,
enabling the group to provide its customer with a sustainable premium product.
Kaldvik AS is headquartered in Iceland.
This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act