Averøy, Norway, 28 June 2026
Reference is made to the stock exchange announcement made by Nordic Halibut AS
("Nordic Halibut" or the "Company") on 12 March 2025 regarding (i) the option
agreement entered into with Måsøval AS (the "Seller"), pursuant to which the
Company was granted an option (the "Option Agreement") to acquire 100% of the
shares in Pure Norwegian Seafood AS ("PNS"), and (ii) the customer agreement
entered into with PNS, pursuant to which the Company was granted the right to
use PNS' processing facilities at Averøy (the "Customer Agreement").
Nordic Halibut is today pleased to announce that it has entered into a share
purchase agreement (the "SPA") with the Seller for the acquisition of 100% of
the shares in PNS (the "Acquisition"), materially on the same commercial terms
as contemplated under the option agreement.
PNS owns a processing facility based in Averøy, Møre og Romsdal, renowned for
its high-quality services. The processing plant has a highly flexible production
line that is adaptable to processing multiple species, with capacities for
sanitary slaughtering as well as significant freezing capabilities. The Company
currently has a commercial relationship with PNS under the Customer Agreement,
and the Acquisition will provide the Company with full control over the
processing facility and related operations.
The Acquisition represents the final step toward achieving full control over the
Company's entire value chain - from genetics to harvesting, processing and
value-added production. Access to PNS' processing facility is an important
factor in the Company's planned scale-up of production volumes, targeting an
annual production of 10,350 tonnes HOG by 2031.
The consideration payable by the Company to the Seller for the Acquisition is
based on an enterprise value of PNS of NOK ~60,000,000, adjusted to an equity
value through customary adjustments (the "Purchase Price"). The Purchase Price
shall be settled in cash at completion and is expected to be financed through a
new bank facility.
Pursuant to the SPA, the Seller retains all financial risk and liability in
respect of a pending criminal and regulatory investigation relating to PNS.
Completion of the Acquisition is expected to take place on or around 30 June
2026.
For further information, please contact:
CEO Edvard Henden
edvard@nordichalibut.no
+47 911 41 165
or
CFO Are Strand
are.strand@nordichalibut.no
+47 915 39 232
About Nordic Halibut AS:
Nordic Halibut is a leading farmer of Atlantic halibut located in Western Norway
and with headquarters in Averøy, Nordmøre. The Company has a fully integrated
and well-developed value chain from genetics to sales and has had a significant
breakthrough in early phase production. A growth plan to expand production
volumes is implemented with production target 10,350 tonnes HOG within 2031.
Nordic Halibut will create shareholder value by pursuing value accretive organic
growth through increased production.
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation (MAR) and is subject to the disclosure requirements
pursuant to MAR article 17 and Section 5-12 of the Norwegian Securities Trading
Act. This stock exchange announcement was published by Are Hammervik Strand,
CFO, at the date and time set out above.
cement was published by Are Hammervik Strand\,\
CFO\, at the date and time set out above.\