Atlantic Sapphire falls further, founding duo buy shares

Aslak Berge

Several insiders buy in.

Founders Johan E. Andreassen and Bjørn-Vegard Løvik have on Thursday bought 20,000 shares in Atlantic Sapphire through their jointly owned company Alsco. The purchases are made at a price of NOK 77. Following the transaction, Alsco owns 9,719,540 shares in the company, corresponding to 12 per-cent of the outstanding shares. In addition, Johan E. Andreassen owns 1,073,770 shares in the company and 111,188 share options.

Johan E. Andreassen is CEO and Bjørn-Vegard Løvik recently took over as executive vice president farming in the land-based company.

Atlantic Sapphire’s share price has fallen heavily recently and the fall continues today. At 14:30 DST, the share price was down five per-cent – to NOK 76 – which is the lowest price level since January 2019. At the same time, the Oslo Stock Exchange’s total index is up by 1.2 per-cent.

Several other insiders followed up.

Board member Andre Skarbø has bought 20,000 shares on Thursday. He also bought at an average price of NOK 77. Following the transaction, Andre Skarbø and related parties own 821,206 shares in the company.

Furthermore, board member Tone Bjørnov has purchased 1,400 shares in Atlantic Sapphire at a price of NOK 79.80 per share. After the transaction, Bjørnov owns 7,650 shares in the company.