Masoval AS — AGM Information 2024

Oct 25, 2024

Måsøval AS: Minutes of Extraordinary General Meeting

Måsøval AS: Minutes of Extraordinary General Meeting

25.10.2024 12:58:51 CEST | Måsøval AS | Additional regulated information

required to be disclosed under the laws of a member state

Reference is made to the stock exchange announcement published by Måsøval AS

("Måsøval" or the "Company") on 10 October 2024, regarding the proposed demerger

and triangular merger.

The Extraordinary General Meeting of Måsøval has today approved the proposed

demerger and triangular merger plan, whereby:

1. A demerger of Måsøval is carried out whereby three employes, the commercial

aquaculture licenses, the biomass, and the associated assets, rights and

liabilities (collectively referred to as the "Licences" and the "Biomass") are

transferred from Måsøval to Måsøval Hjelpeselskap Lisens AS, while certain

operating assets, employees, and associated assets, rights and liabilities

(collectively referred to as the "Operations") are transferred from Måsøval to

Måsøval Hjelpeselskap Drift AS (the "Demerger"). The share capital in Måsøval

will be reduced in connection with the Demerger by reduction of the nominal

value of the shares. In Måsøval Hjelpeselskap Lisens AS and in Måsøval

Hjelpeselskap Drift AS, the Demerger will be carried out by reducing the share

capital in the auxiliary companies to NOK 0 and taking over the assets

mentioned, in exchange for increasing the share capital in the auxiliary

companies and the shareholders in Måsøval becoming shareholders in the

respective auxiliary companies in the same proportion as they own shares in

Måsøval.

2. At the same time as the Demerger, (i) the Licences and Biomass is transferred

from Måsøval Hjelpeselskap Lisens AS to Måsøval Lisens AS through a merger of

Måsøval Hjelpeselskap Lisens AS, and (ii) the Operations are transferred from

Måsøval Hjelpeselskap Drift to Måsøval Drift AS through a merger of Måsøval

Hjelpeselskap Drift AS. Måsøval Hjelpeselskap Drift AS and Måsøval Hjelpeselskap

Lisens AS are cancelled in the merger and the shareholders will receive

remuneration through a share capital increase in Måsøval, which is the parent

company of Måsøval Lisens AS and Måsøval Drift AS, by increasing the nominal

value of existing shares in Måsøval by an amount corresponding to the reduction

amount in the Demerger (the "Triangle Merger").

The Demerger and the Triangle Merger are conditional on each other and shall be

registered in the Norwegian Register of Business Enterprises consecutively.

The complete minutes are enclosed and available on the Company's website,

https://www.masoval.no/.

DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

CONTACTS

* Anders Hagestande, CFO, Måsøval AS, +47 415 82 138,

anders.hagestande@masoval.no

* Helge Kvalvik, CEO, Måsøval AS, +47 979 79 772, helge.kvalvik@masoval.no

ABOUT MÅSØVAL AS

Måsøval is an integrated producer of Atlantic salmon with more than 50 years of

operational experience. Located in Central Norway in the region west of

Trondheim, Måsøval has both significant farming operations at sea and inhouse

smolt production. Måsøval is processing and exporting high quality Atlantic

salmon to a global marketplace.

ATTACHMENTS

Download announcement as PDF.pdf -

https://kommunikasjon.ntb.no/ir-files/17847731/18298055/5162/Download%20announce

ment%20as%20PDF.pdf

EGF Masoval AS 251024 signert protokoll.pdf -

https://kommunikasjon.ntb.no/ir-files/17847731/18298055/5161/EGF%20Masoval%20AS%

20251024%20signert%20protokoll.pdf