Atlantic Sapphire

Major Shareholding Notification • Mar 11, 2024

Atlantic Sapphire ASA: Mandatory Notification of Trade and Disclosure of Large Shareholdings – Redelivery of Shares

Atlantic Sapphire ASA: Mandatory Notification of Trade and Disclosure of Large Shareholdings – Redelivery of Shares

Miami, FL, 11 March 2024

Reference is made to the stock exchange notice by Atlantic Sapphire ASA ("Atlantic Sapphire" or the "Company") on 29 February 2024 regarding the completion of an underwritten private placement (the "Private Placement") raising gross proceeds of approximately NOK 369 million through issuance of new shares in the Company, and the disclosure of large shareholdings notification on 29 February 2024 regarding, inter alia, the effectuation of the share loans under a share lending agreement between the Company, its shareholders Nordlaks Holding AS ("Nordlaks") and Strawberry Capital AS ("Strawberry"), and DNB Markets, a part of DNB Bank ASA (the "Lending Manager") (the "Share Lending Agreement"), to facilitate for delivery-versus-payment settlement in tranche 1 and tranche 2 of the Private Placement.

The new shares issued by the Company in tranche 1 of the Private Placement shall be used for re-delivery of shares under the Share Lending Agreement.

Today, following registration of the share capital increase pertaining to the Company's Board of Directors' resolution to issue 156,080,000 new shares in tranche 1 of the Private Placement on 29 February 2024, the Lending Manager will redeliver 93,648,000 new shares to Nordlaks and 62,432,000 shares to Strawberry.

Following the effectuation of the redelivery of the share loans under the Share Lending Agreement and the registration of the share capital increase in connection with tranche 1 of the Private Placement, Nordlaks holds 122,536,252 shares, representing approximately 12.83% of the votes and shares in the Company, whereas Strawberry holds 81,098,559 shares, representing approximately 8.49% of the votes and shares in the Company. Nordlaks and Strawberry has thereby exceeded the 10% and 5% thresholds, respectively, pursuant to section 4-2 of the Norwegian Securities Trading Act.

Please also see the enclosed forms for further details pursuant to the EU Market Abuse Regulation article 19.

This information is subject to the disclosure requirements pursuant to and sections 4-2 and 5-12 of the Norwegian Securities Trading Act and the EU Market Abuse Regulation article 19.

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 approximately 10,000 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.