Reference is made to the announcement on 30 July 2026 by the Norwegian Financial
Supervisory Authority (the "NFSA") that it has approved the offer document for
the recommended mandatory offer by Coral HoldCo AS (the "Offeror") to acquire
all shares in Atlantic Sapphire ASA (the "Company") not already owned by the
Offeror (the "Offer"). Reference is furthermore made to the stock exchange
announcement on 30 July 2026 regarding the launch of the Offer by the Offeror.
The board of directors of the Company (the "Board") is required under Section
6-16 of the Norwegian Securities Trading Act (the "NSTA") to issue a statement
on the Offer. Pursuant to Section 6-16 (4) of the NSTA, the NFSA, in its
capacity as the Norwegian takeover authority, may require that such statement is
issued by an independent third party on behalf of the Company when an offer is
made in agreement with the Board.
The Offer is made as part of the restructuring of the Company, pursuant to the
restructuring agreement as announced by the Company on 23 May 2026. Due to their
affiliation with two of the members of the ad-hoc investor group in the
restructuring, Strawberry Capital AS and Nordlaks Holding AS, the respective
board members Kenneth Andersen and Eirik Welde have been excused from all
deliberations of the Board with respect to the refinancing (the remaining board
members are referred to as the "Qualified Board").
The NFSA has decided that Pareto Securities AS ("Pareto") shall provide an
independent statement on the Offer on behalf of the Company. Pareto has issued
its statement on the Offer dated 31 July 2026, concluding that the Offer is fair
from a financial point of view. The full statement from Pareto is attached to
this announcement.
The Offer is unanimously recommended by the Qualified Board based on the offer
price and the other terms of the Offer. The Qualified Board has also considered
advice from Arctic Securities AS, obtained during the negotiation of the
restructuring. The recommendation from the Qualified Board, which is not the
statement provided under section 6-16 of the NSTA, is also attached to this
announcement and is also attached to the Offer document, available digitally at
https://atlanticsapphire.com/investor-relations/.
For further information, please contact:
Gunnar Aasbo-Skinderhaug, Atlantic Sapphire ASA, Deputy CEO / CFO
gunnar@atlanticsapphire.com
investorrelations@atlanticsapphire.com
About Atlantic Sapphire ASA
Atlantic Sapphire is pioneering Bluehouse® (land-raised) salmon farming,
locally, and transforming protein production, globally. Atlantic Sapphire
operated its innovation center in Denmark from 2011 until 2021 with a strong
focus on R&D and innovation to equip the Company with the technology and
procedures that enable the Company to commercially scale up production in end
markets close to the consumer. In the US, the Company holds the requisite
permits and patents to construct its Bluehouse® in an ideal location in
Homestead, Florida, just south of Miami. The Company's Phase 1 facility is in
operation, which provides the capacity to harvest up to approximately
7,500-8,500 tons (HOG) of salmon annually. The Company completed its first
commercial harvest in the US in September 2020. Atlantic Sapphire's Phase 2
expansion, will bring total annual production capacity to 25,000 tons and the
Company has a long-term targeted harvest volume of >100,000 tons.
This information is subject to the disclosure requirements pursuant to the
Norwegian Securities Trading Act section 5-12.
closure requirements pursuant to the\
Norwegian Securities Trading Act section 5-12.\