Atlantic Sapphire ASA: Notice of Extraordinary General Meeting – Proposal for Nomination Committee election and share consolidation

29 Nov 2024 15:48 CET

Atlantic Sapphire ASA (the "Company") hereby calls for an extraordinary general
meeting to be held digitally on 20 December 2024 at 15:00 CET. The notice with
agenda and the Board's proposals is attached hereto.

The items on the agenda include election of a new chair for the Nomination
Committee and a share consolidation (reverse share split) in the ratio of 200:1.
As the Company's shares currently cannot be divided by 200, the Board also
proposes a minor share capital increase to ensure that the total number of
shares in the Company is dividable by 200.

It is proposed that the Board is given authorization to determine relevant key
dates for the share consolidation, such as last day including, ex-date and
record date. In connection with the share consolidation, it will also be
necessary to change the ISIN of the Company's shares. Further information on key
dates and the change of ISIN will be given through stock exchange notices at a
later time.

Shareholders who do not own a number of shares which can be divided by 200 shall
in connection with the reverse share split have their shareholding rounded
downwards. Fractional shares will not be issued, and the Board proposes that
each fractional share shall be added together and sold at the Oslo Stock
Exchange with net proceeds from the sale being donated to a charitable purpose.

Shareholders that wish to avoid that their shareholding is rounded downwards
must ensure that they hold a number of shares dividable by 200 as of the date of
implementation of the share consolidation (i.e. the record date). Information on
the date of implementation of the share consolidation will be given at a later
time.

The warrants issued by the Company pursuant to the resolution of the general
meeting held on 17 September 2024, and listed on the Oslo Stock Exchange with
ticker "ASAS", will also be affected by the share consolidation so that the
number of warrants and their exercise price shall be adjusted to that the share
consolidation does not affect the value of the warrants. The warrants shall
therefore be consolidated in the same ratio as the shares of the Company.
Further information on the consolidation of the warrants will be provided at a
later time.

For further information, please contact:

Gunnar Aasbø-Skinderhaug, Atlantic Sapphire ASA, Deputy CEO/ CFO
Gunnar@atlanticsapphire.com

Investorrelations@atlanticsapphire.com

About Atlantic Sapphire ASA:

Atlantic Sapphire is pioneering Bluehouse® (land-raised) salmon farming,
locally, and transforming protein production, globally. Atlantic Sapphire
operated its innovation center in Denmark from 2011 until 2021 with a strong
focus on R&D and innovation to equip the Company with the technology and
procedures that enable the Company to commercially scale up production in end
markets close to the consumer. 

In the US, the Company holds the requisite permits and patents to construct its
Bluehouse® in an ideal location in Homestead, Florida, just south of Miami. The
Company's Phase 1 facility is in operation, which provides the capacity to
harvest up to approximately 9,500 tons (HOG) of salmon annually. The Company
completed its first commercial harvest in the US in September 2020. Atlantic
Sapphire is currently constructing its Phase 2 expansion, which will bring total
annual production capacity to 25,000 tons and has a long-term targeted harvest
volume of 220,000 tons.

More information:
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633564_241129 - Atlantic Sapphire ASA - Notice of EGM.pdf