NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES
Bergen, 3 June 2016
Reference is made to the stock exchange release from Lerøy Seafood Group ASA ("Lerøy" or the "Company", ticker "LSG") published yesterday regarding the contemplated private placement of between 4,000,000 and 5,000,000 new shares, in addition, sale of up to 300,000 own shares held by the Company.
The Company announces today that it has raised NOK 2,200 million in gross proceeds through a private placement consisting of 5,000,000 new shares and sale of 300.000 own shares at a price of NOK 415 per share (the "Private Placement"). After this transaction, the Company holds 29,776 own shares. The Private Placement took place through an accelerated bookbuilding process after close of markets yesterday. The Private Placement, which was well oversubscribed, attracted strong interest from both existing shareholders as well as new high quality institutional investors.
Net proceeds from the Private Placement will be a part of the financing of the acquisitions of Havfisk ASA and Norway Seafoods Group AS, as announced yesterday, or alternatively for other corporate purposes including but not limited to such purposes as considered in the authorisation granted by the shareholders' resolution passed on 24 May 2016.
The Board of Directors has considered various transaction structures to ensure the financing of the abovementioned acquisition of Havfisk ASA and Norway Seafoods Group AS. Taking into account the need for a swift completion of the abovementioned transaction, the Board of Directors has following careful considerations decided that completing the Private Placement on the terms referred to above, in the present situation, are in the Company's and the shareholders' joint interests. This accordingly includes setting aside the existing shareholders' preferential rights pursuant to the authority granted by the general meeting on 24 May 2016.
Notification of allotment and payment instructions will be sent to the applicants on or about 3 June 2016 through a contract note to be issued by the Pareto Securities AS. The delivery of the shares will be made by delivery of existing and unencumbered shares in the Company that are already listed on the Oslo Stock Exchange. Shares will be made available pursuant to a stock lending agreement entered into between the Company, Austevoll Seafood ASA and Pareto Securities AS. The shares will thus be tradable from allocation. Settlement of the allocated shares is expected to take place through a delivery versus payment transaction on 7 June 2016.
Pareto Securities AS acted as Sole Manager and Bookrunner in the Private Placement.
For further information, please contact:
Sjur Malm, CFO, + 47 417 72 020
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About Lerøy Seafood Group ASA:
Lerøy Seafood Group is the leading exporter of seafood from Norway and is in the business of meeting the demand for food and culinary experiences in Norway and internationally by supplying seafood products through selected distributors to producers, instiutional households and consumers. The group's core activities are distribution, sale and marketing of seafood, processing of seafood, production of salmon, trout and other species, as well as product development. The group operates through subsidiaries in Norway, Sweden, France and Portugal and through a network of sales offices that ensure its presence in the most important markets. The group's task is to satisfy the customer's requirements for cost-effective and continuous supplies of a wide range of high-quality seafood products.
Lerøy Seafood Group's vision is to be the leading and most profitable global supplier of sustainable,
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.