As per the press communiqué this rights issue will finance the company’s participation in the joint venture with Lindsay Goldberg LLC and the joint venture’s acquisition of Epax Holding AS from Austevoll Seafood ASA. It is expected that the proposal will be presented to Aker BioMarine’s extraordinary general meeting on 24 September 2010.
Then company got NOK 250 million by issuing new shares at a subscription price of NOK 1.10 per share. Existing shareholders as of the expiry of the date of the extraordinary general meeting will receive subscription rights that will give them preferential rights to subscribe to and be allotted new shares in the share issue.
The company said that the subscription rights that have not been used or sold during the subscription period, will be deleted and thus have no value. Oversubscription and subscription without subscription rights will be permitted. The subscription period will be two weeks, and is expected to start on or about 30 September 2010, subject to approval of a prospectus for the offering.
Completion of the rights issue is conditional upon the conditions for Trygg Pharma AS’ obligation to complete the purchase of shares in Epax Holding AS from Austevoll Seafood ASA being fulfilled. The rights issue is fully underwritten by Aker Seafoods Holding AS. Arctic Securities ASA will act as manager for the rights issue.
