Miami, FL, 13 October 2026
Reference is made to the stock exchange announcement made on 15 September 2026
regarding the resolution by the extraordinary general meeting of Atlantic
Sapphire ASA ("Atlantic Sapphire" or the "Company") to carry out a share capital
increase through the issue of 1,125,481,385 new shares to Coral HoldCo AS
("Coral HoldCo") at a subscription price of NOK 0.10 per share, settled by way
of set-off against the full outstanding amount under the bridge loan to Atlantic
Sapphire (the "Bridge Loan Conversion").
Following completion of the Bridge Loan Conversion, Coral HoldCo owned
1,150,124,362 shares in Atlantic Sapphire, representing approximately 99.03% of
the issued share capital and voting rights in Atlantic Sapphire.
The board of directors of Coral HoldCo has, effective from 08:30 CEST today, 13
October 2026, resolved to carry out a compulsory acquisition of all remaining
shares in Atlantic Sapphire not already owned by Coral HoldCo, pursuant to
section 4-25 of the Norwegian Public Limited Liability Companies Act (the
"Compulsory Acquisition"). As a consequence, Coral HoldCo has assumed ownership
of all shares in Atlantic Sapphire.
The offered redemption amount in the Compulsory Acquisition is NOK 0.80 per
share (the "Redemption Amount"), which corresponds to the offer price in the
mandatory tender offer for all issued and outstanding shares in Atlantic
Sapphire completed on 3 September 2026. The Offeror has transferred the
aggregate Redemption Amount to a specified settlement account in DNB Bank ASA
for onward distribution to the former shareholders as soon as practicable
thereafter.
Settlement of the Redemption Amount is expected to take place as soon as
practicable, and in any event no later than 27 October 2026. A separate notice
regarding the Compulsory Acquisition will be sent to all former shareholders of
Atlantic Sapphire subject to the Compulsory Acquisition whose addresses are
known. In addition, the Compulsory Acquisition will be announced through the
electronic notice service of the Norwegian Register of Business Enterprises
(Nw.: Brønnøysundregistrene).
Any objections to, or rejection of, the Redemption Amount must be received by
the Offeror no later than 23:59 CET on 15 December 2026. Former shareholders of
Atlantic Sapphire who do not object to, or reject, the offered Redemption Amount
within this deadline will be deemed to have accepted the offered Redemption
Amount. Objections or rejections will not affect the transfer of ownership of
the shares to Coral HoldCo, but an objecting shareholder may request a judicial
appraisal of the Redemption Amount in accordance with section 4-25 (2) paragraph
of the Norwegian Public Limited Liability Companies Act.
Following the Compulsory Acquisition, Atlantic Sapphire will apply for a
delisting of its issued shares and warrants from Euronext Oslo Børs. A separate
stock exchange announcement will be published in this regard.
For further information, please contact:
Gunnar Aasbo-Skinderhaug Atlantic Sapphire ASA, Deputy CEO/ CFO
Email: 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
Market Abuse Regulation and the Norwegian Securities Trading Act section 5-12.
This stock exchange release was published by Gunnar Aasbø-Skinderhaug, at the
time and date set out above.
5-12.\
This stock exchange release was published by Gunnar Aasbø-Skinderhaug\, at the\
time and date set out above.\