AKVA group ASA entered into a letter of intent with the owners of Idema Aqua AS for the acquisition of 100 % of the shares of Idema Aqua AS on 14 March 2008.
AKVA group ASA as the purchaser and Morten Malm, Roar Buøen, Terje Bostad and Krutthuset AS as the sellers have today signed a share purchase agreement for the acquisition of 100 % of the shares of Idema Aqua AS. Reference is made to the attached presentation.
The consideration, strategic effects, financing of the transaction and key financial numbers are described in the presentation attached hereto. The board of Idema Aqua AS will be changed at completion of the transaction. The Chief Executive Officer of Idema Aqua AS is Morten Malm.
The management and board members of Idema Aqua AS are not granted any benefits in relation to the Transaction by Idema Aqua AS, AKVA group ASA or any third party, nor has any agreements in that respect been entered into nor are any agreements in that respect contemplated.
The parties intend to consummate the acquisition on or about 2 June 2008.
Bryne, 14 May 2008
AKVA group ASA
Web: www.akvagroup.com
CONTACTS:
Knut Molaug, Chief Executive Officer
Phone: +47 51 77 85 40
Email: kmolaug@akvagroup.com
Rolf Andersen, Chief Financial Officer
Phone: +47 51 77 85 48
E-mail: randersen@akvagroup.com
AKVA group is the leading provider of technology to the fish farming industry and the only with global distribution. The products consist of software, sensor systems, feed systems, recirculation systems and cage systems.
