Atlantic Sapphire proposes authorisation for the issue of 16 million new shares and $150 million worth of convertible bonds

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Land-based salmon farmer preparing to fund next stage of construction in Miami.

Ahead of a general meeting, the Atlantic Sapphire board is proposing a share issue authorisation to equal “approximately 20 per-cent of the company’s current share capital and renews this authorisation up to the annual general meeting in 2022”.

“The proposed authorisation will give the board the flexibility to carry out capital increases, including private placements, in a quick and efficient manner when required. The purpose of the authorisation entails that it will also be necessary for the board of directors to be able to deviate from the shareholders’ pre-emptive rights pursuant to the applicable law is issuing up to 16,000,000 new shares,” the notice stated.

With Thursday’s closing price on the Oslo Stock Exchange, 16 million shares equate to USD 150 million.

In addition to the share issue authorisation, the board of directors will also obtain a proxy from shareholders to take out convertible bonds of up to USD 150 million.

Atlantic Sapphire’s AGM will take place on May 12th at the company’s premises on Brickell Avenue, Miami.