Aqua Bio Technology — Major Shareholding Notification 2024

Aug 29, 2024

AQUA BIO TECHNOLOGY ASA - ISSUANCE OF CONSIDERATION SHARES AND DISCLOSURE OF LARGE SHAREHOLDING

AQUA BIO TECHNOLOGY ASA - ISSUANCE OF CONSIDERATION SHARES AND DISCLOSURE OF LARGE SHAREHOLDING

29.8.2024 15:09:52 CEST | Aqua Bio Technology ASA | Total number of voting

rights and capital

Reference is made to the stock exchange notice from Aqua Bio Technology ASA (the

"Company" or "ABT") on 28 August 2024 regarding the completion of the Company's

acquisition of 100 % of the shares in 3D Innovation Nordic AS pursuant to a

share purchase agreement (the "SPA") entered between the Company as buyer and

CoC Invest AS ("CoC Invest") as seller, a company with Ørjan Djuvik Pedersen,

Jesper Dønnestad Brandt and Rolf Kristian Fiala as ultimate owners.

To settle the share component of the purchase price under the SPA, the Company's

board of directors has today resolved to issue 5,000,000 consideration shares at

a subscription price of NOK 3,66 per consideration share, each with a nominal

value of NOK 2,50 (the "Consideration Shares"), pursuant to a board

authorization registered in the Norwegian Register of Business Enterprises on 5

July 2024.

The Consideration Shares are subject to a 36-month lock up undertaking and will

be delivered on a separate ISIN pending the Company's publication of an EEA

listing prospectus approved by the Norwegian Financial Supervisory Authority.

Following CoC Invest's subscription of the Consideration Shares, CoC Invest will

own a total of 6,200,000 shares and votes in the Company, representing

approximately 8,92 % of the outstanding shares and votes in the Company. CoC

Invest will thereby exceed the 5 % threshold pursuant to section 4-2 of the

Norwegian Securities Trading Act ("STA").

Additionally, the Company's shareholder Medvind Holding AS ("Medvind") makes the

following disclosure of large shareholdings:

* Medvind exceeded the 10 % threshold on 22 December 2023 under section 4-2 of

the STA by subscribing for 6,000,000 consideration shares in connection with

the Company's acquisition of 100 % of the shares in Cover Brands AS, where

Medvind held approximately 10,86 % of the votes and shares in the Company at

the time.

* Medvind fell below the 10% threshold on 23 April 2024 under section 4-2 of

the STA, as a result of dilution following the issuance of 4,708,935

settlement shares in the Company. This was in connection with ABT's

settlement of the remaining earn-out obligations to Varming Holding, as

detailed in the stock exchange announcement made by the Company on 28 June

2024. Following the registration of the corresponding share capital increase

in the Norwegian Register of Business Enterprises, Medvind held approximately

9.3% of the shares and votes in the Company at the time.

This information is subject to the disclosure requirements in sections 4-2 and

5-12 of the STA.

CONTACTS

Håvard Lindstrøm, 004794132288, hl@aquabiotech.no

ABOUT AQUA BIO TECHNOLOGY ASA

Aqua Bio Technology (ABT) is developing and commercializing sustainable

biotechnology for use in skin care products. ABT's cosmetics ingredients are

highly effective and they provide the cosmetics industry with natural

alternatives to traditional ingredients. ABT is also marketing and distributing

natural skin care products developed by partners towards consumers and

professional users. Aqua Bio Technology is listed on Euronext Expand.

DISCLOSURE REGULATION

This information is subject of the disclosure requirements pursuant to section

of 5-12 of the Norwegian Securities Trading Act.

CONTACTS

* Håvard Lindstrøm, 004794132288, hl@aquabiotech.no

ABOUT AQUA BIO TECHNOLOGY ASA

Aqua Bio Technology (ABT) is developing and commercializing sustainable

biotechnology for use in skin care products. ABT's cosmetics ingredients are

highly effective and they provide the cosmetics industry with natural

alternatives to traditional ingredients. ABT is also marketing and distributing

natural skin care products developed by partners towards consumers and

professional users. Aqua Bio Technology is listed on Euronext Expand.

ATTACHMENTS

Download announcement as PDF.pdf -

https://kommunikasjon.ntb.no/ir-files/17847556/18219467/4919/Download%20announce

ment%20as%20PDF.pdf