Bakkafrost P/f - Share Issue/Capital Change 2019

BAKKAFROST: Subsequent Offering of New Shares

P/F Bakkafrost (the "Company") announced the completion of a private placement

of 7,328,709 new shares at a subscription price of NOK 500 on 25 September 2019

(the "Placement"). The shares in the Placement were primarily offered to the

Company's largest shareholders. A few new investors were also invited to

participate.

Recognising that the subscription price in the Placement was below the closing

market price for the Company's shares on 25 September 2019, the Company's board

has, today, resolved to offer those of its shareholders that were not invited to

participate in the Placement, to subscribe to a number of new shares at a

subscription price of NOK 500 in a subsequent offering of up to 1,000,000 new

shares. Each qualifying shareholder will be offered to subscribe to a number of

these shares relative to such shareholder's ownership in the Company as of

today. The purpose of the offering is to ensure that all shareholders, to the

greatest degree possible, receive equal treatment.

The subsequent offering is conditional on the extraordinary general meeting in

the Company called for on 18 October 2019 authorising the Company's board to

issue the shares to be offered therein and a prospectus related to the offering

being approved by the Norwegian Financial Supervisory Authority.

The offering is, provided the above conditions are met and the board not having

resolved to cancel it, likely to be made mid Q4/19.

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