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AKVA group ASA: Information regarding development licenses


Atlantis Subsea Farming AS (the "Company") applied for 6 development licenses the 29th of January 2016. On March 10th 2017, The Norwegian Directorate of Fisheries informed the Company that the Company's concept had progressed another step further in the process to get awarded development licenses. Further, The Directorate informed that they would go ahead with processing the application limited to 2 licenses, but did reject the application in terms of the other 4 permits applied for.


The Company considered the feedback from The Directorate, and decided to appeal the decision on May 8th, 2017. The appeal were limited to the rejection of 2 of the 4, rejected licenses. The Directorate forwarded the appeal to the Ministry of Trade, Industry and Fisheries on June 16th 2017, for final decision.  On December 18th 2017 The Ministry rejected the appeal. The decision is final, and cannot be appealed.


On February 22nd The Directorate announced that the Company has been granted one license. On March 1st the Company decided to not appeal the decision and to continue the project with one license.

Atlantis Subsea Farming AS is owned by AKVA group ASA, Sinkaberg Hansen AS and Egersund Net AS, all holding one third of the shares in the Company.

Dated: March 2(nd) 2018

 
AKVA group ASA

Web: www.akvagroup.com

 
CONTACTS:

  Trude Olafsen            General Manager Atlantis Subsea Farming AS
  Phone:                          +47 51 77 85 00
  Mobile:                         +47 91 55 74 00
  E-mail:                           TOlafsen@akvagroup.com

 
 Hallvard Muri              Chief Executive Officer
  Phone:                          +47 51 77 85 00
  Mobile:                         +47 91 58 07 50
  E-mail:                           HMuri@akvagroup.com

 

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.


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