Masoval AS — M&A Activity 2024

Jan 19, 2024

Måsøval AS - Update on the demerger and triangular merger process

Måsøval AS - Update on the demerger and triangular merger process

19.1.2024 13:30:01 CET | Måsøval AS | Inside information

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

(the "Company") on 10 September 2023 regarding a possible internal

reorganization where a joint plan for demerger and triangular merger was adopted

by the board of directors of the Company and the Company's subsidiaries Måsøval

Drift AS (formerly Aqua Farms Vartdal AS), Måsøval Lisens AS (formerly Pure

Farming AS), Måsøval Hjelpeselskap Drift AS and Måsøval Hjelpeselskap Lisens AS

(the "Internal Reorganization"). Reference is also made to the stock exchange

announcement published by the Company on 25 September 2023 regarding the

approval of the Internal Reorganization by the Company's extraordinary general

meeting.

A condition for completion of the Internal Reorganization is that the Company

receives a binding advance tax ruling ("BFU") from the tax authorities

confirming that both the Internal Reorganization can be completed with tax

continuity. Today, the Company has received a BFU where the tax authorities

conclude that the outlined deduction of assets acquired in 2023 means that the

Internal Reorganization cannot be carried out with tax continuity. The deduction

has limited value for the Company, and therefore the Company will request a new

binding advance ruling from the tax authorities, seeking clarification on

whether the waiver of the deduction of assets acquired in 2023 allows for the

Internal Reorganization will allow the demerger to be carried out with tax

continuity. Subject to such confirmation from the tax authorities, the Internal

Reorganization will then be implemented.

For more information, please contact:

Helge Kvalvik, CEO, + 47 97 97 97 72, email: helge.kvalvik@masoval.no

Anders Hagestande, CFO, +47 415 82 138, email: anders.hagestande@masoval.no

This stock exchange release contains inside information as defined in the EU

Market Abuse Regulation and is subject to the disclosure requirements pursuant

to section 5-12 of the Securities Trading Act.

The stock exchange release was published by Berit Fossan, Group Controller, on

19 January 2024 at 13:30 (CET).

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. Through its majority ownership in the processing and

distribution company Pure Norwegian Seafood AS, 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/17847731/2863/3982/Download%20announcement

%20as%20PDF.pdf