Mandatory offer to shareholders in Akva group

Frode Teigen has today through his 100% owned company Kontrari AS bought 3,100 shares in AKVA group at a price of NOK 11.00. Frode Teigen and related parties' new shareholding after this purchase and the completion of the rights issue in AKVA group, will then be 10,333,785 shares, thus exceeding the mandatory offer threshold of 40.0 % of the shares in the company, cf. section 6-1 of the Norwegian Securities Trading Act.

As announced earlier Frode Teigen intends through his 100 % owned company Kontrari AS to proceed with a mandatory offer pursuant to chapter 6 of the Norwegian Securities Trading Act. The mandatory offer price will be NOK 11.00 per share, equal to the highest price paid by Frode Teigen and related parties for shares in AKVA group ASA during the past six months.

The mandatory offer will be put forward as soon as the formal offer documentation, which will include the further terms and conditions for the offer, has been approved by Oslo Børs (the Oslo Stock  xchange), and within the time limits stipulated by the Norwegian Securities Trading Act.