Måsøval AS: Minutes of Extraordinary General Meeting

25 Oct 2024 12:58 CEST

25.10.2024 12:58:51 CEST | Måsøval AS | Additional regulated information
required to be disclosed under the laws of a member state

Reference is made to the stock exchange announcement published by Måsøval AS
("Måsøval" or the "Company") on 10 October 2024, regarding the proposed demerger
and triangular merger.

The Extraordinary General Meeting of Måsøval has today approved the proposed
demerger and triangular merger plan, whereby:

1. A demerger of Måsøval is carried out whereby three employes, the commercial
aquaculture licenses, the biomass, and the associated assets, rights and
liabilities (collectively referred to as the "Licences" and the "Biomass") are
transferred from Måsøval to Måsøval Hjelpeselskap Lisens AS, while certain
operating assets, employees, and associated assets, rights and liabilities
(collectively referred to as the "Operations") are transferred from Måsøval to
Måsøval Hjelpeselskap Drift AS (the "Demerger"). The share capital in Måsøval
will be reduced in connection with the Demerger by reduction of the nominal
value of the shares. In Måsøval Hjelpeselskap Lisens AS and in Måsøval
Hjelpeselskap Drift AS, the Demerger will be carried out by reducing the share
capital in the auxiliary companies to NOK 0 and taking over the assets
mentioned, in exchange for increasing the share capital in the auxiliary
companies and the shareholders in Måsøval becoming shareholders in the
respective auxiliary companies in the same proportion as they own shares in
Måsøval.

2. At the same time as the Demerger, (i) the Licences and Biomass is transferred
from Måsøval Hjelpeselskap Lisens AS to Måsøval Lisens AS through a merger of
Måsøval Hjelpeselskap Lisens AS, and (ii) the Operations are transferred from
Måsøval Hjelpeselskap Drift to Måsøval Drift AS through a merger of Måsøval
Hjelpeselskap Drift AS. Måsøval Hjelpeselskap Drift AS and Måsøval Hjelpeselskap
Lisens AS are cancelled in the merger and the shareholders will receive
remuneration through a share capital increase in Måsøval, which is the parent
company of Måsøval Lisens AS and Måsøval Drift AS, by increasing the nominal
value of existing shares in Måsøval by an amount corresponding to the reduction
amount in the Demerger (the "Triangle Merger").

The Demerger and the Triangle Merger are conditional on each other and shall be
registered in the Norwegian Register of Business Enterprises consecutively.

The complete minutes are enclosed and available on the Company's website,
https://www.masoval.no/.



DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

CONTACTS

* Anders Hagestande, CFO, Måsøval AS, +47 415 82 138,
anders.hagestande@masoval.no
* Helge Kvalvik, CEO, Måsøval AS, +47 979 79 772, helge.kvalvik@masoval.no

ABOUT MÅSØVAL AS

Måsøval is an integrated producer of Atlantic salmon with more than 50 years of
operational experience. Located in Central Norway in the region west of
Trondheim, Måsøval has both significant farming operations at sea and inhouse
smolt production. Måsøval is processing and exporting high quality Atlantic
salmon to a global marketplace.

ATTACHMENTS

Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17847731/18298055/5162/Download%20announce
ment%20as%20PDF.pdf

EGF Masoval AS 251024 signert protokoll.pdf -
https://kommunikasjon.ntb.no/ir-files/17847731/18298055/5161/EGF%20Masoval%20AS%
20251024%20signert%20protokoll.pdf

More information:
Access the news on Oslo Bors NewsWeb site

630411_Download announcement as PDF.pdf
630411_EGF Masoval AS 251024 signert protokoll.pdf