The net proceeds from the Private Placement will primarily be used to invest in the Company’s shore based salmon farming facility at Kvalnes, expansion to new areas at Breivik, Fiskenes and juvenile salmon production sites (including regulation and license processes) and infrastructure for such expansion.
The bookbuilding period in the Private Placement will commence today, 10 June 2020 at 09:00 CEST and close on 11 June 2020 at 14:00 CEST. The Manager and the Company may, however, at any time resolve to close or extend the bookbuilding period. If the bookbuilding period is shortened or extended, any other dates referred to herein may be amended accordingly.
The Private Placement will be directed towards Norwegian and international investors, in each case subject to an exemption from offer prospectus requirements and any other filing or registration requirements in the applicable jurisdictions and subject to other selling restrictions. The minimum application and allocation amount has been set to the NOK equivalent of EUR 100,000. The Company may, however, at its sole discretion, allocate an amount below EUR 100,000 to the extent applicable exemptions from the prospectus requirement pursuant to the Norwegian Securities Trading Act and ancillary regulations are available.
Completion of the Private Placement is conditional on the Company resolving to complete the Private Placement and issue the new shares allocated thereunder in accordance with an authorisation granted by the Company's annual general meeting in 2020. The Company reserves the right, at any time and for any reason, to cancel, and/or modify the terms of, the Private Placement. Neither the Company nor Manager will be liable for any losses incurred by applicants if the Private Placement is cancelled, irrespective of the reason for such cancellation.
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