Reference is made to the stock exchange notification dated 9 June 2009 regarding a contemplated private placement in Grieg Seafood ASA (the "Company" or "Grieg Seafood").

 

The Company has today successfully completed the private placement of a total of 10,150,000 shares at a subscription price of NOK 13.70 per share. Gross proceeds to the Company from the transaction will amount to NOK 139.1 million.

 

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. A listing prospectus will be prepared and issued in relation to the listing of 10,150,000 new shares which will be delivered to Grieg Holdings.

 

After the completion of the private placement, the share capital of Grieg Seafood will increase to NOK 346,648,000 consisting of 86,662,000 ordinary shares with a NOK 4 par value. Each ordinary share in Grieg Seafood has one vote in the company's General Meeting.

 

After the registration of the share capital increase, Grieg Holdings will hold 33,728,010 shares in Grieg Seafood, equating to an ownership of 38.9 % of the Company's outstanding shares.

 

Carnegie acted as lead manager and sole bookrunner in the private placement with DnB NOR Markets and RS Platou Markets as co-managers.

 

Bergen, 10 June 2009

 

For further enquiries, please contact:

Morten Vike (CEO) +47 994 911 65