Kats, Netherlands - March 26, 2026 - The Kingfish Company N.V. (Euronext Growth
Oslo: KING) (the "Company" or "Kingfish") announces that it continues to be
engaged in discussions with its largest lender, convertible bondholders, certain
existing shareholders and potential investors regarding the Company's capital
structure and financing agreements. These discussions are taking place with the
objective of addressing an expected covenant breach and strengthening the
Company's financial position, as communicated in the stock exchange announcement
on January 20, 2026.
As part of this process, the Company is evaluating a range of potential
solutions, which may include new equity, junior debt financing and/or other
restructuring measures. In this context, the Company is considering raising
approximately EUR10 million to EUR15 million in additional funding. To support these
efforts, the Company has engaged ABG Sundal Collier ASA as financial adviser.
Any such transaction, if implemented, is expected to result in changes to the
Company's capital structure and may be significantly dilutive to existing
shareholders.
The Company notes that discussions are progressing constructively, and it
believes that a viable solution can be achieved. The Company also emphasises
that its operations continue as normal. The ongoing financing and restructuring
discussions are not expected to impact day-to-day activities, production,
suppliers or customer relationships, and the Company remains focused on
executing its operational plan.
The Company will provide further updates as appropriate.
For media and investor inquiries, please contact:
press@the-kingfish-company.com
ir@the-kingfish-company.com
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to section 5-12 of the Norwegian Securities Trading Act. The information was
submitted for publication by CFO Jean-Charles Valette at the date and time set
out herein, on behalf of the Company.
About The Kingfish Company
The Kingfish Company is a pioneer and leader in sustainable land-based
aquaculture, specializing in the production of high-quality yellowtail kingfish.
The Company operates its flagship facility, Kingfish Zeeland, in the
Netherlands, and holds all necessary permits to expand its operations in the
United States.
Production is based on advanced recirculating aquaculture systems (RAS) that
ensure biosecurity and environmental control. Animal welfare is paramount, and
the fish are grown without antibiotics or vaccines. All operations run on 100%
renewable electricity and use seawater to conserve freshwater resources.
The Company's main product, the Yellowtail Kingfish (also known as ricciola,
hiramasa, or greater amberjack), is a versatile premium species highly valued in
Italian and Asian-fusion cuisines. Its products are certified as sustainable and
environmentally responsible by Best Aquaculture Practices (BAP), GLOBALG.A.P.,
and Friend of the Sea.
Forward-looking statements
All statements in this press release other than statements of historical fact
are forward-looking statements, which are subject to a number of risks,
uncertainties and assumptions that are difficult to predict and are based upon
assumptions as to future events that may not prove accurate. Actual results may
differ materially from those expected or projected in the forward-looking
statements. The Company undertakes no responsibility or obligation to update or
alter forward-looking statements for any reason.