Pan Fish ASA has, on 6 March, 2006, completed a private placement of a total of 1,250 million new shares, each at par value NOK 0.75, at a subscription price of NOK 4.36 per share. Gross proceeds from the private placement amounted to NOK 5.45 billion. The private placement was directed to a selected group of professional Norwegian and international investors.
The purpose of the equity issue is to fund the acquisition of Marine Harvest N.V, the world`s largest aquaculture company.
The issuance of the shares is subject to a formal approval of the equity issue by an extraordinary general meeting in Pan, and listing of the new shares will take place after the approval of the prospectus related to the equity issue by Oslo Stock Exchange, expected on or about 22 March 2006.
The total number of issued shares in Pan will increase from 1.383.456.258 before the equity issue related to the acquisition of shares in Fjord, to 1.663.651.951 (including the equity issue related to the acquisition of shares in Fjord), to a total of 2.913.651.951 shares after this private placement (and the equity issue related to the acquisition of shares in Fjord).
The private placement was managed by Carnegie ASA, DnB NOR Markets and Pareto Securities ASA.
Oslo, 7 March 2006
For further information:
Atle Eide, CEO Pan Fish ASA, +47 911 52 977