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GSF - Contemplated Private Placement

Grieg Seafood ASA ("Grieg Seafood" or the "Company") hereby announces that the Company intends to carry out a directed new share issue of up to 7,650,000 new shares, equivalent to 9.99 per cent of current outstanding capital and votes. In addition, the Company has an option to over-allocate up to an additional 2,500,000 new shares (the "Private Placement").
 
The Private Placement will be directed towards professional Norwegian and international investors after the close of Oslo Børs today. The price in the Private Placement will be determined through a bookbuilding process and the minimum order has been set to the number of shares that equals an aggregate purchase price of at least the NOK equivalent of EUR 50,000.
 
The net proceeds to the Company will provide the Company with improved financial flexibility in the present favourable market conditions and improve its general financial position
 
The Company's largest shareholder, Grieg Holdings AS ("Grieg Holdings"), will lend the number of new shares sold in the Private Placement to the financial advisors engaged to complete the Private Placement in order for them to be able to deliver immediately tradable shares to the buyers thereof. The shares borrowed will be returned by issue of new shares under an authorisation granted to the Board of Grieg Seafood by a shareholders' resolution passed on 20 May 2009.
 
Carnegie acts as lead manager and sole bookrunner in the Private Placement with DNB NOR Markets and RS Platou Markets as co-managers.
 
Bergen, 9 June 2009
 
For further enquiries, please contact:
Morten Vike, CEO (mobile +47 994 911 65)
 
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act).