Insider buys The Scottish Salmon Co.

William Stoichevski

With shares having fallen the day before from 9.65 kroner to 9.15, a board member in The Scottish Salmon Company who was brought in as a consultant has purchased 25,000 shares in the company at NOK9.25 per share.

In 15 minutes of trade in Oslo early Wednesday, the Scottish Salmon Co. share price rose briefly to 9.21 kroner, before falling back down to 9.15.

Merete Myhrstad, a Norwegian partner for the past 10 years in Oslo-based Uniconsult, now owns 65,000 shares in the Oslo- Scottish Salmon Co., where she’s been on the board since 2010. Myhrstad has stated she’s mainly involved in subsidiary, The Scottish Salmon Company Ltd., although the board of the parent company has been known to meet at the Grand Hotel on Jersey in the Channel Islands ahead of earnings releases.

With salmon prices relatively low and “moving sideways”, Scotland’s “second largest salmon company” has worked on bringing costs down. The company runs 50 farms on the Hebrides and West Coast of Scotland with the capacity to raise 30,000 tonnes of fish.

Myhrstad is known in Norway for a short tenure as board member on the Baerum Sportsklubb, a football team in the Norwegian First Division, and for various executive positions in Tribona, formerly Northern Logistic Property, a Scandinavian distribution outfit.


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