Statt Torsk ASA (the "Company") refers to the stock exchange releases made on 15
September 2023 and 3 November 2023 in connection with the contemplated merger
between the Company (as the transferring company) and Vesterålen Havbruk Statt
AS, a wholly owned subsidiary of Vesterålen Havbruk AS (as the acquiring
company), with consideration to the shareholders of the Company in the form of
shares in Vesterålen Havbruk AS (the "Merger"). 

The Company is pleased to announce that the board of directors of the three
companies involved in the Merger (the "Merger Parties") today have approved and
signed a merger plan for the Merger (the "Merger Plan"). The Merger will be
carried out by the Company transferring all its assets, rights and obligations
to Vesterålen Havbruk Statt AS with consideration to the shareholders of the
Company in the form of appr. 0.048168 new share in Vesterålen Havbruk AS for
each share held in the Company.

The exchange ratio in the Merger is based on an equity value of the Company of
appr. NOK 255 million (implying a value per share of appr. NOK 1.2042) and an
equity value of Vesterålen Havbruk AS of appr. NOK 610 million (implying a value
per share of NOK 25). The Merger will result in a delisting of the Company's
shares from Euronext Growth Oslo (the "Delisting").
 
An extraordinary general meeting of the Company for approval of the Merger Plan
and adoption of the necessary resolutions in connection with the Merger is
expected to be held on or about 18 December 2023. 

Following the approval of the Merger Plan by the general meetings of the Merger
Parties, completion of the Merger will inter alia be subject to the following
conditions having been satisfied or waived: (i) the Merger Parties obtaining any
required governmental approvals and third-party consents; (ii) the Delisting,
and no continuation of the listing being required, (iii) expiry of the
applicable creditor notice period; and (iv) no circumstances having occurred
that alter the basis for the Merger. The Merger and the Delisting are expected
to be completed in late February 2024. 

The Merger Parties have received undertakings from their shareholders
representing more than 2/3 of each of their shares in issue to vote in favor of
the Merger Plan and corresponding undertakings in the Company for the
application for Delisting.

Ro Sommernes Advokatfirma DA acts as legal advisor to the Company in connection
with the Merger. Advokatfirmaet Thommessen AS and Advokatfirmaet Grette AS act
as joint legal advisors to Vesterålen Havbruk AS. 

This release is considered to be inside information pursuant to the EU Market
Abuse Regulation and is subject to the disclosure requirements pursuant to
Section 5-12 the Norwegian Securities Trading Act. 

This stock exchange notice was published by Bjug Borgund, CFO, on the date and
time as set out above.    
 
For further information, please contact:
Gustave Brun-Lie, CEO, gbl@statt.no
 
For inquires to Vesterålen Havbruk AS:
Brynjar Kværnstuen, CEO, brynjar@vesteralenhavbruk.com
 
About Vesterålen Havbruk AS: Vesterålen Havbruk AS is a white fish group
primarily located in Øksnes and Bø municipality. The company's subsidiaries are
involved in harvesting of farmed cod, processing facility for wild and farmed
cod/salmon, and are also running a traditional fish reception. In Q4 2023 the
company will have the first operational stun and bleed vessel delivered,
specialized for farmed cod. The company has already conducted one production
cycle on farmed cod in the Northern areas. Vesterålen Havbruk AS employs 200
people and are privately held. For more information, please visit:
www.vesteralenhavbruk.com/en/rapporter.

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© Oslo Bors ASA, source Oslo Stock Exchange