Represents more than 50 per cent of the shares in NTS.
A company that represents more than 50 per cent of the shares in NTS will offer NOK 105 per share in cash settlement for the fish farming company. The offer prices the company’s equity at NOK 13.2 billion (€1.3 billion) and represents a premium of 13 per cent at the closing price for the NTS share on Friday 14 January.
The shareholders consist of Terboli Invest (formerly Vite Invest before name change), Nils Williksen, Haspro, Rodo Invest, Vikna Invest, Andvari, Bergpro, Dolmen Invest, ER Dolmen Invest, Guntvedt Holding, Hans Martin Storø, Leif-Oskar Olsvik, Linn- Karin Olsvik, Torbjørn Olsvik, HG Dolmen Invest and Emilsen Fisk.
The rationale for the offer is to seek to protect and further develop share values in NTS by continuing to explore alternatives for the company’s shareholders, including selling the shares. The shareholders also want to improve the corporate governance of the company, it is stated in a stock exchange announcement issued on Monday morning.
The offer period will run for four weeks, with the possibility of extension.
The submission of the offer is conditional on the fact that there has been no significant negative change in the company’s and its subsidiaries’ financial position or operational prospects and that the Oslo Stock Exchange must have approved the offer document.
The implementation conditions are specified in the message:
- There shall have been no material adverse change in the financial position and operating prospects of the company and its subsidiaries.
- The company and its subsidiaries must have obtained valid consent from banks and other third parties to change control in the company.
- No intervention by public authorities shall have prevented the execution of the tender on its terms.
- After 14 January 2022, no decision shall have taken place in the company or any of its subsidiaries regarding a merger / demerger, increase in the share capital, number of issued shares and / or the nominal value of the shares, acquisition of own shares or sale of significant assets.
- A competing offer with a higher offer price than the offer price shall not have been announced.
Carnegie is the financial advisor and Advokatfirmaet Thommessen is the legal advisor to the shareholder group.