Atlantic Sapphire

AGM Information • Nov 29, 2024

Atlantic Sapphire ASA: Notice of Extraordinary General Meeting – Proposal for Nomination Committee election and share consolidation

Atlantic Sapphire ASA: Notice of Extraordinary General Meeting – Proposal for Nomination Committee election and share consolidation

Atlantic Sapphire ASA (the "Company") hereby calls for an extraordinary general meeting to be held digitally on 20 December 2024 at 15:00 CET. The notice with agenda and the Board's proposals is attached hereto.

The items on the agenda include election of a new chair for the Nomination Committee and a share consolidation (reverse share split) in the ratio of 200:1. As the Company's shares currently cannot be divided by 200, the Board also proposes a minor share capital increase to ensure that the total number of shares in the Company is dividable by 200.

It is proposed that the Board is given authorization to determine relevant key dates for the share consolidation, such as last day including, ex-date and record date. In connection with the share consolidation, it will also be necessary to change the ISIN of the Company's shares. Further information on key dates and the change of ISIN will be given through stock exchange notices at a later time.

Shareholders who do not own a number of shares which can be divided by 200 shall in connection with the reverse share split have their shareholding rounded downwards. Fractional shares will not be issued, and the Board proposes that each fractional share shall be added together and sold at the Oslo Stock Exchange with net proceeds from the sale being donated to a charitable purpose.

Shareholders that wish to avoid that their shareholding is rounded downwards must ensure that they hold a number of shares dividable by 200 as of the date of implementation of the share consolidation (i.e. the record date). Information on the date of implementation of the share consolidation will be given at a later time.

The warrants issued by the Company pursuant to the resolution of the general meeting held on 17 September 2024, and listed on the Oslo Stock Exchange with ticker "ASAS", will also be affected by the share consolidation so that the number of warrants and their exercise price shall be adjusted to that the share consolidation does not affect the value of the warrants. The warrants shall therefore be consolidated in the same ratio as the shares of the Company. Further information on the consolidation of the warrants will be provided at a later time.

For further information, please contact:

Gunnar Aasbø-Skinderhaug, Atlantic Sapphire ASA, Deputy CEO/ CFO Gunnar@atlanticsapphire.com

Investorrelations@atlanticsapphire.com

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.