Andfjord Salmon Group AS – Cancellation of Subsequent Offering

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA, SOUTH AFRICA, NEW ZEALAND, JAPAN, THE UNITED STATES, THE UNITED KINGDOM OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

Reference is made to the stock exchange notice published by Andfjord Salmon Group AS (the "Company") on 22 May 2024 regarding the successful private placement of 10,606,060 new shares in the Company (the "Private Placement"), and that the Company intended to carry out a subsequent offering of up to 796,530 new shares in the Company (the "Subsequent Offering"), depending, inter alia, on the development of the price of the shares in the Company after completion of the Private Placement. 

The board of directors of the Company has decided not to proceed with the Subsequent Offering. 

The background for the cancellation is that the Company's shares have traded below the subscription price in the Private Placement for a substantial period of time and at sufficient volumes. Shareholders wishing to reduce the dilutive effect of the Private Placement have thus had the opportunity to purchase shares in the market at prices below the price which would have been the subscription price in the Subsequent Offering.