ICE FISH FARM AS (IFISH): Majority shareholder Måsøval Eiendom engages financial advisor to explore the possibilities for strategic partnerships

17 Nov 2022 08:30 CET

Frøya, Norge, 17 November 2022

Måsøval Eiendom AS (“Måsøval Eiendom”) has today announced that it has engaged
ABG Sundal Collier ASA to explore the potential for establishing a partnership
in relation to its shareholding in Ice Fish Farm AS (the “Company” or “Ice Fish
Farm”).
This initiative comes on the back of Måsøval Eiendom receiving incoming interest
from several high-quality parties to form partnerships or similar structures.
Commenting on the planned initiative, Lars Måsøval, Chairman and CEO in Måsøval
Eiendom, stated: “Ice Fish Farm is the largest salmon farmer in Iceland in terms
of license capacity, and is the only salmon farmer on the East coast,
representing several hundreds of kilometres of coastline. The Company has
licenses and applications, and additional capacity within its fjords, to become
a significant player in the global salmon farming industry, and be much larger
than Måsøval’s Norwegian farming operations. Furthermore, the Company has just
started this growth journey, and will be stocking about 6 million smolts this
year. Hence, we believe it is the right timing for Måsøval Eiendom to explore
the possibilities of bringing in a strong partner, alongside ourselves, to
support the upcoming growth phase of Ice Fish Farm”.
Any establishment of a partnership will not change the fundamental objective of
Måsøval Eiendom, which is to continue as a long-term shareholder of Ice Fish
Farm.
The initiated partnership process is expected to be concluded no later than
during the first half of 2023.
Måsøval Eiendom is fully controlled by members of the Måsøval family, who has
been a pioneer within salmon farming since starting in the 1970s with salmon
farming operations on the coast of Central Norway. Måsøval Eiendom is today the
majority owner of two listed salmon farmers, Måsøval AS and Ice Fish Farm AS.

For further information, please contact:
Lars Måsøval, +47 91 83 86 84

Important Notice
This announcement is not, and does not form a part of, any offer to sell, or a
solicitation of an offer to purchase, any securities of the Company.
Matters discussed in this announcement may constitute forward-looking
statements. Forward-looking statements are statements that are not historical
facts and may be identified by words such as "believe", "expect", "anticipate",
"strategy", "intends", "estimate", "will", "may", "continue", "should" and
similar expressions. The forward-looking statements in this release are based
upon various assumptions, many of which are based, in turn, upon further
assumptions. Although the Company believes that these assumptions were
reasonable when made, the assumptions are inherently subject to significant
known and unknown risks, uncertainties, contingencies and other important
factors which are difficult or impossible to predict and are beyond the
Company's control. The Company disclaims any obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.
Actual events may differ significantly from any anticipated development due to a
number of factors, including without limitation, changes in investment levels
and need for the Company's services, changes in the general economic, political
and market conditions in the markets in which the Company operates, the
Company's ability to attract, retain and motivate qualified personnel, changes
in the Company's ability to engage in commercially acceptable acquisitions and
strategic investments, and changes in laws and regulation and the potential
impact of legal proceedings and actions. Such risks, uncertainties,
contingencies and other important factors could cause actual events to differ
materially from the expectations expressed or implied in this release by forward
-looking statements.
The Company does not provide any guarantees that the assumptions underlying the
forward-looking statements in this announcement are free from errors nor does it
accept any responsibility for the future accuracy of the opinions expressed in
this announcement or any obligation to update or revise the statements in this
announcement to reflect subsequent events. You should not place undue reliance
on the forward-looking statements in this document.

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