Reykjavik, Iceland, 25 March 2025:
Reference is made to the announcement by Kaldvik AS ("Kaldvik", the "Company") on 20 December 2024 and 28 February 2025 regarding the agreement to acquire (i) 100% of the shares in Mossi ehf. ("Mossi"), (ii) 100% of the shares in Djupskel ehf. ("Djupskel") and (iii) 33.3% of the shares in Bulandstindur ehf. ("Bulandstindur") (the "Transaction").
Kaldvik has today completed the Transaction.
The estimated total purchase price of NOK 190 million has been settled as follows: (i) for the shares in Djupskel and Bulandstindur, an aggregate of NOK 150 million, has been settled by way of issuance of a promissory note which is eligible for conversion to consideration shares in Kaldvik at NOK 27.60 per share (the "Subscription Price") and (ii) for the shares in Mossi, NOK 40 million in an unsecured, interest free seller's credit with a maturity date on 31 December 2025, at which time Kaldvik may choose to settle the seller's credit in cash or in new Kaldvik shares at a price equal to the Subscription Price.
Pareto Securities AS has acted as financial advisor, and AGP Advokater AS as legal advisor, to the Company in the negotiations of the terms of the Transaction. ABG Sundal Collier ASA has acted as financial advisor, and Advokatfirmaet Thommessen AS as legal advisor, to Heimstø and Osnes in the negotiations of the terms of the Transaction.
For further information, please contact:
Roy-Tore Rikardsen, CEO: +354 791 0006 (mobile)
Robert Robertsson, CFO: +354 843 0086 (mobile)
About Kaldvik
Kaldvik AS is one of the leading salmon farmers in Iceland. Kaldvik AS has a well-developed and fully integrated value-chain controlling all steps from hatchery to sales, enabling the group to provide its customers with a sustainable premium product. Kaldvik AS is dual-listed on Euronext Growth Oslo and First North Iceland Growth Market. See https://www.kaldvik.is for more information about the Company.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
