Rebels plot to oust largest shareholder from NTS board

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Number of board members to be cut from ten to seven.

This coming Friday 21 January, an extraordinary general meeting has been arranged for salmon producer NTS. The meeting follows a demand made by the three shareholders: Nils Williksen AS, Vite Invest AS and Rodo Invest AS.

The above have submitted demands for a new board and the election of board members and deputies for the company. They have previously announced that proposals will be submitted on or around 19 January.

Read also: Shareholder grouping offers €1.3 billion for NTS

The current board consists of ten people: Odd Einar Øie (chairman of the board), Anne K. Slungård (deputy chairman), Helge Gåsø, Grete R. Brovoll, Hege B. Skillingstad, Sunniva Nicolaisen, Roald Dolmen, Vibecke Bondø, Anders Gåsø and Nils M. Williksen.

Late in the evening on Tuesday 18 January, the proposal for a new board, presented on behalf of the shareholders Terboli Invest (after a name change from Vite Invest), Nils Williksen and Rodo Invest:

It is proposed that the board of NTS be reduced by three board members. Furthermore, the following new board members are proposed:

  • Hans Martin Storø (new chairman of the board)
  • Nils Martin Williksen (Deputy Chairman)
  • Vibecke Bondø
  • Roald Dolmen
  • Solvår Hallesdatter Hardesty (new)
  • Håvard Magne Jakobsen (new)
  • Sunniva Nicolaisen

The proposal thus means that the company’s largest shareholder, Helge Gåsø, who owns 37 percent of NTS through Gåsø Næringsutvikling, is likely to be thrown off the board – together with his son Anders Gåsø.

NTS which is the majority owner of Norway Royal Salmon, has a market capitalisation of €1.3 billion, and boasts a production capacity of 124,000 tonnes of salmon in Norway and Iceland.