Gåsø to block SalMar’s acquisition plan. NRS share price plummets

News
0

Will block capital increase in Norway Royal Salmon (NRS).

At lunchtime on Thursday, the message came from NTS that the salmon farming company, which controls just over 40 per cent of the shares in NRS, has sent a letter to the board of NRS demanding an extraordinary general meeting of NRS.

Helge Gåsø is by far the largest shareholder in NTS. Gåsø holds an ownership position of 39 per cent.

Central
The central point in the letter is the revocation of the board authorization for a capital increase approved at the annual general meeting on 27 May. During the annual general meeting, NRS obtained a standard issue resolution to be able to print ten per cent new shares.

Precisely this issue decision is absolutely central to SalMar’s plan to acquire the competitor NRS.

NRS share prices plummeted after the letter became known.

Conditional
While three of the company’s top executives on Thursday morning sold NRS shares for NOK 101.7 million, at a price of NOK 275, the share price after lunch has dropped all the way down to NOK 259 – well below SalMar’s bid of NOK 270.

The SalMar bid is subject to 50 per cent acceptance.