Compulsory acquisition of shares

01 Jul 2013
Ref: Link to Oslo Børs News Web


Reference is made to the stock exchange notice dated 4 April 2013 whereby Austevoll Seafood ASA ("AUSS")announced the final result of the mandatory offer to acquire all the shares in Norway Pelagic ASA ("NPEL"), which resulted in AUSS becoming the owner of 90.1 % of the shares in NPEL.

Austevoll Seafood ASA ("AUSS") hereby announces that pursuant to Section 4-25 of the Norwegian Public Limited Companies Act and Section 6-22 of the Norwegian Securities Trading Act (the "STA"), AUSS has exercised its right to acquire compulsorily for cash the remaining 1,824,390 shares in Norway Pelagic ASA that it does not already own (the "Minority Shares").

In accordance with section 6-22 (2) of the STA, the offer price to be paid for each Minority Share has been set at NOK 15.50, which is equal to the price offered by Austevoll Seafood ASA under the mandatory offer made on 5 March 2013, where the offer period expired on 3 April 2013. When the compulsory acquisition takes place within three months after the expiry of the offer period, the redemption price shall normally be fixed at the same amount as was offered in the mandatory offer, cf. the Securities Trading Act section 6-22 (2).

The rights and ownership of the Minority Shares will automatically be transferred to Austevoll Seafood ASA, which accordingly will be the beneficial owner of 100 per cent of the Norway Pelagic ASA shares.This transfer is scheduled to be completed 4 July 2013.

Any objections to or rejection of the compulsory offer price must be made by 4 September 2013 to Wikborg, Rein & Co. DA Advokatfirma for the attention of Jan Erik Clausen. Payments of the offer price will take place on Friday 5 July or shortly thereafter. Such payments do not reduce the shareholders' rights to raise objections by 4 September.

AUSS is due to ownership represented on NPEL's Board of Directors and thus considered a primary insider of NPEL pursuant to section 4-2 (1) of the STA.

Contact persons:

Chairman Helge Singelstad tel.: +47 91 66 10 01
CEO Arne Møgster tel.: +47 91 66 10 49