Måsøval AS - Lease and operation of educational licence
Møre og Romsdal County Council ("MRFK") has applied to the Directorate of Fisheries for an extension of the educational license for farming of salmon in order to be able to continue to offer educational programmes in aquaculture at Hustadvika high school.
Måsøval AS ("Måsøval") has for several years been engaged in aquaculture operations in the county, and wants to contribute to the continuation of local aquaculture education and building of expertise in the county. Måsøval considers such collaboration with the school to be a positive contribution in developing new talents in the industry, and to be part of recruiting young local talents.
MRFK has conducted a tender process where Måsøval was chosen as the preferred partner for leasing and operating the licence, and facilitating educational activities.
Måsøval will pay a fixed rent to MRFK for operating the license for a period of 10 years. During this period, Måsøval will increase its MTB basis by 780 tons, and as for other licenses, Måsøval holds the risk and reward of the operation. However, the license is considered a special license and thus exempt from resource rent taxation and has its own MAB limit.
MRFK will now apply to the Directorate of Fisheries for renewal of this teaching license and co-location of this at the Måsøval sites. It is only after the application is granted that the lease and operations in Måsøval will begin and the 10-year period begins to run.
Subject to normal processing time, MRFK and Måsøval hope to be able to utilize the teaching license already from the second half of 2025.
Disclosure regulation
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Contacts
- Anders Hagestande, CFO, Måsøval AS, +47 415 82 138, anders.hagestande@masoval.no
- Helge Kvalvik, CEO, Måsøval AS, +47 979 79 772, helge.kvalvik@masoval.no
About Måsøval AS
Måsøval is an integrated producer of Atlantic salmon with more than 50 years of operational experience. Located in Central and West of Norway, Måsøval has both significant farming operations at sea and inhouse smolt production. Måsøval is processing and exporting high quality Atlantic salmon to a global marketplace.