Atlantic Sapphire ASA: Compulsory acquisition of shares in Atlantic Sapphire ASA
Miami, FL, 13 October 2026
Reference is made to the stock exchange announcement made on 15 September 2026 regarding the resolution by the extraordinary general meeting of Atlantic Sapphire ASA ("Atlantic Sapphire" or the "Company") to carry out a share capital increase through the issue of 1,125,481,385 new shares to Coral HoldCo AS ("Coral HoldCo") at a subscription price of NOK 0.10 per share, settled by way of set-off against the full outstanding amount under the bridge loan to Atlantic Sapphire (the "Bridge Loan Conversion").
Following completion of the Bridge Loan Conversion, Coral HoldCo owned 1,150,124,362 shares in Atlantic Sapphire, representing approximately 99.03% of the issued share capital and voting rights in Atlantic Sapphire.
The board of directors of Coral HoldCo has, effective from 08:30 CEST today, 13 October 2026, resolved to carry out a compulsory acquisition of all remaining shares in Atlantic Sapphire not already owned by Coral HoldCo, pursuant to section 4-25 of the Norwegian Public Limited Liability Companies Act (the "Compulsory Acquisition"). As a consequence, Coral HoldCo has assumed ownership of all shares in Atlantic Sapphire.
The offered redemption amount in the Compulsory Acquisition is NOK 0.80 per share (the "Redemption Amount"), which corresponds to the offer price in the mandatory tender offer for all issued and outstanding shares in Atlantic Sapphire completed on 3 September 2026. The Offeror has transferred the aggregate Redemption Amount to a specified settlement account in DNB Bank ASA for onward distribution to the former shareholders as soon as practicable thereafter.
Settlement of the Redemption Amount is expected to take place as soon as practicable, and in any event no later than 27 October 2026. A separate notice regarding the Compulsory Acquisition will be sent to all former shareholders of Atlantic Sapphire subject to the Compulsory Acquisition whose addresses are known. In addition, the Compulsory Acquisition will be announced through the electronic notice service of the Norwegian Register of Business Enterprises (Nw.: Brønnøysundregistrene).
Any objections to, or rejection of, the Redemption Amount must be received by the Offeror no later than 23:59 CET on 15 December 2026. Former shareholders of Atlantic Sapphire who do not object to, or reject, the offered Redemption Amount within this deadline will be deemed to have accepted the offered Redemption Amount. Objections or rejections will not affect the transfer of ownership of the shares to Coral HoldCo, but an objecting shareholder may request a judicial appraisal of the Redemption Amount in accordance with section 4-25 (2) paragraph of the Norwegian Public Limited Liability Companies Act.
Following the Compulsory Acquisition, Atlantic Sapphire will apply for a delisting of its issued shares and warrants from Euronext Oslo Børs. A separate stock exchange announcement will be published in this regard.
For further information, please contact:
Gunnar Aasbo-Skinderhaug Atlantic Sapphire ASA, Deputy CEO/ CFO
Email: gunnar@atlanticsapphire.com
investorrelations@atlanticsapphire.com
About Atlantic Sapphire ASA
Atlantic Sapphire is pioneering Bluehouse® (land-raised) salmon farming, locally, and transforming protein production, globally. Atlantic Sapphire operated its innovation center in Denmark from 2011 until 2021 with a strong focus on R&D and innovation to equip the Company with the technology and procedures that enable the Company to commercially scale up production in end markets close to the consumer. In the US, the Company holds the requisite permits and patents to construct its Bluehouse® in an ideal location in Homestead, Florida, just south of Miami. The Company's Phase 1 facility is in operation, which provides the capacity to harvest up to approximately 7,500-8,500 tons (HOG) of salmon annually. The Company completed its first commercial harvest in the US in September 2020. Atlantic Sapphire's Phase 2 expansion, will bring total annual production capacity to 25,000 tons and the Company has a long-term targeted harvest volume of >100,000 tons.
This information is subject to the disclosure requirements pursuant to the Market Abuse Regulation and the Norwegian Securities Trading Act section 5-12. This stock exchange release was published by Gunnar Aasbø-Skinderhaug, at the time and date set out above.