AKVA Group — M&A Activity 2015

Sep 28, 2015

AKVA group ASA : Extended stock exchange notice - Purchase of Aquatec Solutions A/S

AKVA group ASA : Extended stock exchange notice - Purchase of Aquatec Solutions A/S

This notice is prepared and published by AKVA group ASA ("AKVA") in accordance

with section 3.4.1 and 3.4.2 in Continuing Obligations for companies listed on

the Oslo Stock Exchange (Oslo Børs).

The transaction

Reference is made to AKVA's stock exchange release dated 9 July 2015. AKVA has

now entered into an agreement with Fokus Invest ApS, J&O Holding, Randbøl ApS

and RM Invest ApS for the purchase of all of the shares in Aquatec Solutions A/S

("Aquatec") for a price of DKK 35 million. Fokus Invest ApS is controlled by

Aquatec chairman Anker Stensig Andersen. J&O Holding, Randbøl ApS is controlled

by Aquatec co-founder Ole Enggaard Pedersen. RM Invest ApSis controlled by

Aquatec CEO Morten Nielsen.

The purchase price will be paid in cash on completion of the transaction, which

is expected to take place on 30 September 2015. In addition AKVA will pay an

adjustment amount based on the net debt and working capital position of Aquatec

as of the closing date. Finally, AKVA will pay to the sellers an additional

consideration (earn-out) based on the realized EBITDA of Aquatec for 2015 and

2016. The parties have agreed an estimated net present value of the earn out in

the amount of DKK 21.6 million based on current budgets and forecasts.

AKVA will finance the transaction with a loan from Danske Bank.

The significance of the transaction for AKVA

Aquatec is a leading provider of technology and solutions for land-based fish

farming.

"We are pleased to welcome Aquatec in to AKVA. Aquatec Solutions has a good

reputation and a strong presence especially in the salmon farming regions in the

world and will supplement our existing land based set up in a very good way",

states Trond Williksen, CEO of AKVA group ASA.

The transaction significantly strengthens AKVA's positioning towards a land

based technology segment expected to grow in the years to come.

Aquatec Solutions

Aquatec operates world-wide in supplying land based fish farming technology and

solutions for both salt and fresh water fish. Aquatec's offering covers

everything from complete fish farming systems to high quality fish farming

equipment and components. For facilities in operation Aquatec provides

supervision and support.

The board of directors of Aquatec consists of Mr. Anker Stensig Andersen, Mr.

Erik Nielsen and Mr. Ole Enggaard Pedersen. The general manager of Aquatec is

Mr. Morten Nielsen, while the Chilean operations are led by Mr. Mauricio Leal.

Aquatec has 25 full time employees in Denmark, with a further 19 engaged in the

activities of the group in Chile. AKVA group have not entered into any

agreements for the benefit of management or key personnel in AKVA in connection

with the transaction. The selling shareholders and their controlling owners have

entered into customary non-compete and non-solicitation undertakings in

connection with the transaction. No other agreements have been entered into with

the management and key personnel in Aquatec.

Dated: 28 September  2015

AKVA group ASA

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

This information is subject of the disclosure requirements acc. to §5-12 vphl

(Norwegian Securities Trading Act)

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