This notice is prepared and published in accordance with section 3.4.1 and 3.4.2 in Continuing Obligations for companies listed on Oslo Børs.
The transaction
AKVA group Software AS, a wholly owned subsidiary of AKVA group ASA ("AKVA"), has entered into an agreement with Fishware Invest AS, for sale of the Maritech business in Norway for a price of NOK 34.5 million. The purchase price will be paid in cash on completion. The transaction will be completed on February 17th, 2012 with operational effect from February 1st, 2012. Assuming completion takes place as planned, the sale will generate a NOK 28 million gain for AKVA.
The significance of the transaction for AKVA
The Maritech business in Norway is a part of the business activities in AKVA group Software AS, but is considered to be outside AKVAs core business. The sale is therefore a natural step in focusing the activity of the group and will strengthen the basis for developing the core business. AKVA will following the transaction be developing and strengthening further the remaining business of AKVA group Software AS, known under the brand Fishtalk.
The sale of the Maritech business in Norway is a natural step in order to focus the operations of AKVA, giving us the opportunity to further strengthen and develop our remaining core software activities in AKVA group Software AS, known under the brand Fishtalk. Fishtalk is the leading best of breed software within aquaculture globally, and is in use by customers in all regions where AKVA is present. Our intention is to develop Fishtalk to strengthen the brand's position further as well as meet our customers' needs for specialized solutions for aquaculture operations, states Trond Williksen, CEO of AKVA group ASA.
The Maritech operation in Norway
The Maritech operation in Norway delivers ERP services and software specifically tailored to seafood companies. The business is not a separate legal entity and therefore has no Board of Directors. Key employees are Arne Lie Gundersen (General Manager), Sigbjørn Ramsøy, Geir Are Nautnes and Steinar Mykløy. In total 38 people works in the Maritech operation in Norway and will follow the business in the transaction. AKVA or AKVA group Software AS have not entered into any agreements for the benefit of management or key personnel in AKVA or AKVA group Software AS, nor for the benefit of the management and key personnel in the Maritech business in Norway, in connection with the transaction.
Dated: 27 January 2012
AKVA group ASA
Web: www.akvagroup.com
CONTACTS:
| Trond Williksen | Chief Executive Officer |
| Phone: | +47 51 77 85 00 |
| Mobile: | +47 91 63 01 73 |
| E-mail: | twilliksen@akvagroup.com |
| Eirik Børve Monsen | Chief Financial Officer |
| Phone: | +47 51 77 85 00 |
| Mobile: | +47 91 63 98 31 |
| E-mail: | emonsen@akvagroup.com |
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AKVA group is the leading provider of technology to the global fish farming industry and the only with global distribution. The products consist of software systems, operational equipment and sensor systems, feed systems, cage systems, net cleaning systems, light systems and recirculation aquaculture systems.
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)
