Norcod — Board/Management Information 2022

May 24, 2022

Norcod primed for uplisting to Oslo Stock Exchange

Norcod primed for uplisting to Oslo Stock Exchange

Aquaculture industry experts Trine Danielsen and Renate Larsen to join Board of Directors of Norwegian cod-farming venture as it prepares to migrate from the Euronext Growth market to the main list of the Oslo Stock Exchange.

Current board chairman Marit Solberg, together with board members Boe Spurre and Tore Tønseth, will not be standing for re-election at Norcod’s ordinary general meeting this week.

“It has been fantastic to participate in the rebuilding of the farmed cod industry and be witness to the success Norcod has achieved so far. The company is in an excellent position, and I am happy to pass on responsibility to the new board. I am confident that Trine and Renate can contribute greatly to Norcod’s further development,” said Solberg.

Stepping up as new chairman is Jan Severin Sølbek, who is majority owner of Norcod and has been involved in the company as an investor since 2019.

Trine Danielsen is currently Chief Commercial Officer of aquaculture industry organisation Blueplanet Academy AS and has vast experience of fish farming around the world and related policymaking. She earlier served as state secretary in Norway’s Ministry of Trade, Industry and Fisheries, and from 2011 to 2015 was mayor of Hjelmeland Municipality, one of the largest aquaculture communities in Rogaland County.

“Aquaculture is the only sustainable means of increasing seafood supply to meet the food needs of the world's growing population. Responsible cod farming will be a big part of that story and I am very proud to be joining the board of a company committed to the highest sustainability standards. I look forward to working alongside the tremendous team they have built up, both in leadership and skilled technicians on the ground,” said Danielsen.

Larsen has been CEO of the Norwegian Seafood Council for the past six years and also comes armed with deep knowledge of the seafood industry, including as CFO and subsequently Managing Director of salmon producer Lerøy Aurora AS. She has extensive board experience from both state and private companies.

“I am thrilled to be joining the Norcod board and will do all I can to support the company during the next stages of its development. They have come a long way already and the future looks very bright, in terms of premium biomass, value-chain partnerships and strong demand for a first-class product,” she said.

“We are extremely pleased that Renate and Trine accepted the invitation to join our board. Their outstanding experience and insight from fish farming and the Norwegian seafood industry will be invaluable for our further growth. It’s a real feather in our cap to have them on board,” said Norcod CEO Christian Riber.

Norcod has finalized its first full production cycle and is set to begin harvesting its second cycle in the third quarter of this year. It will also be putting its third cycle of cod into the sea phase this summer.

About Norcod

Norcod AS’ core business is commercial sea farming of cod but through ownership and partnerships is involved in the entire value chain. Norcod’s existing fish farms are located in Mid- and North Norway with ideal sea conditions for cod. The company is contributing to blue ocean value creation with minimal impact on the environment while supporting local communities. Norcod is listed on Oslo’s Euronext Growth market.

For more information contact:

Christian Riber

CEO, Norcod

+47 905 37 990

cr@norcod.no