Solid forward profit for Marine Harvest-chairman

On 15 December 2011 Geveran Trading Co Ltd (Geveran), which is indirectly controlled by trusts established by John Fredriksen for the benefit of his immediate family, entered into a forward contract for the purchase of the 30 million shares in Marine Harvest ASA (Marine Harvest). The settlement date of the forward contract was 16 December 2013 and the purchase price was NOK 3.9287 per share. Simultaneously, Geveran entered into a forward contract for the sale of 30,000,000 million shares to Profond Holding AS (PH), a company owned by Marine Harvest ASA's Chairman Ole-Eirik Lerøy, at the same terms.

On 16 December 2013 the contracts mentioned above expired and Geveran purchased and sold 30 million shares, and PH purchased 30 million shares, in Marine Harvest. The sale and purchase price in these transactions were NOK 3.7037 per share, which is equivalent to the original forward price of NOK 3.9287 less dividends of NOK 0.225 paid from Marine Harvest during the tenor of the forward agreements.

Subsequent to these transactions Ole-Eirik Lerøy and his affiliates' ownership of shares in Marine Harvest is 42,200,000 shares. This represents a total ownership of 1% of the issued share capital. Geveran's exposure to the Marine Harvest share is unchanged after the transactions. Geveran holds 1,173,531,634 shares representing 31.31% of the issued share capital in Marine Harvest and has an additional exposure to the share through TRS agreements relating to 70,000,000 shares in Marine Harvest.