Atlantic Sapphire

Share Issue/Capital Change • Oct 15, 2024

Atlantic Sapphire ASA: New share capital registered – new par value of the shares of the Company

Atlantic Sapphire ASA: New share capital registered – new par value of the shares of the Company

Reference is made to the stock exchange announcement on 6 October 2024 from Atlantic Sapphire ASA ("Atlantic Sapphire" or the "Company", and together with its consolidated subsidiaries, the "Group"), regarding the final results of the rights issue (the "Rights Issue"), in which the Company shall issue in total 6,417,000,001 new shares (the "Offer Shares"), as further described in the Company's stock exchange notice dated 6 October 2024. In addition, the Company will issue 7,486,500,058 warrants to subscribers in the Rights Issue, the underwriters, and lenders in the convertible loan resolved to be issued by the Company (the "Warrants").

In connection with the completion of the Rights Issue, the share capital of the Company has first been decreased with NOK 106,503,019.90, from NOK 112,108,442 to NOK 5,605,422,10, by a reduction of the par value of the Company's shares from NOK 1.00 per share to NOK 0.05 per share. Consequently, the new par value of the shares of the Company is NOK 0.05 per share.

Further, the share capital increase relating to the issuance of the Offer Shares has now been registered with the Norwegian Register of Business Enterprises. The share capital of the Company has been increased with NOK 320,850,000.05 through the issuance of 6,417,000,001 Offer Shares, each with a par value of NOK 0.05.

The new share capital of the Company is NOK 326,455,422.15 divided by 6,529,108,443 shares, each with a par value of NOK 0.05.

The issuance of the Warrants has now also been registered with the Norwegian Register of Business Enterprises.

The Offer Shares and the Warrants are expected to be delivered to investors on or about 16 October 2024.

The Warrants are expected to be admitted to trading on the Oslo Stock Exchange on or about 18 October 2024, and further information on this will be given in due course.

For further information, please contact:

Gunnar Aasbø-Skinderhaug, Atlantic Sapphire ASA, Deputy CEO/ CFO

Gunnar@atlanticsapphire.com

Investorrelations@atlanticsapphire.com

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About Atlantic Sapphire ASA:

Atlantic Sapphire is pioneering Bluehouse® (land-raised) salmon farming, locally, and transforming protein production, globally. Atlantic Sapphire operated its innovation center in Denmark from 2011 until 2021 with a strong focus on R&D and innovation to equip the Company with the technology and procedures that enable the Company to commercially scale up production in end markets close to the consumer. 

In the US, the Company holds the requisite permits and patents to construct its Bluehouse® in an ideal location in Homestead, Florida, just south of Miami. The Company's Phase 1 facility is in operation, which provides the capacity to harvest up to approximately 9,500 tons (HOG) of salmon annually. The Company completed its first commercial harvest in the US in September 2020. Atlantic Sapphire is currently constructing its Phase 2 expansion, which will bring total annual production capacity to 25,000 tons and has a long-term targeted harvest volume of 220,000 tons.