Reference is made to the stock exchange notice released on 20 September 2016 by Hofseth BioCare ASA ("HBC" or the "Company") regarding the general meeting's decision to resolve three separate private placements in the total amount of NOK 165,394,048.50 ("The Private Placements") and a subsequent offering (The Subsequent Offering). Following completion of The Private Placements the Company will issue 110,262,699 new shares, bringing the total number of outstanding shares in HBC to 232,472,269 shares (prior to completion of the Subsequent Offering). The subscription price in The Private Placements was NOK 1.50 per share.

 

This notice serves as a combined notice of disclosure of large shareholdings and notice of subscription from primary insiders, as further described below.

 

Subscription by primary insiders

 

The following primary insiders have subscribed for and been allocated new shares in The Private Placements resolved today:

 

- Roger Hofseth AS, a company directly controlled by the Chairman of the Board in HBC, Mr. Roger Hofseth, has subscribed for 12,216,592 new shares which will bring Roger Hofseth AS' total shareholding, including a forward contract for 3,850,000 shares, upon registration of The Private Placements issue (but prior to completion of the Subsequent Offering), to 37,047,701 shares, corresponding to 15.94% of the total share capital. For Roger Hofseth AS this also serves as disclosure of large shareholdings.

 

- Dr. Bomi Framroze, Chief Scientific Officer, has subscribed for 313,516 new shares which brings his total shareholding upon registration of the Private Placements (but prior to completion of the Subsequent Offering), to 786,630 shares, corresponding to 0.34% cent of the total share capital;

 

Disclosure of large shareholdings

 

In the Private Placements, the following subscribers surpassed a threshold for disclosure of large shareholdings:

 

- Deep Blue Ventures on behalf of DBVF 1 Segregated Portfolio subscribed for 39,122,672 new shares which will give them a total shareholding in the Company of 16.83%, upon registration of the Private Placements issue (but prior to completion of the Subsequent Offering). Following The Private Placements, Deep blue Ventures will own 39,122,672 shares in the Company.

 

- Alliance Seafoods subscribed for 33,333,333 new shares which will give them a total shareholding in the Company of 14.34%, upon registration of the Private Placements issue (but prior to completion of the Subsequent Offering). Following The Private Placements, Alliance Seafoods will own 33,333,333 shares in the Company.

 

- Hofseth International AS (including associated companies hereunder Hofseth AS, Seafood Farmers of Norway AS and Hofseth Logistics AS) subscribed for 25,150,586 new shares and thus increased their total shareholding in the Company to 19,90%, including shares held by abovementioned associated companies. Hofseth AS has decreased their shareholdings to 9.15% and Hofseth International AS has increased their shareholdings to 8.18%. Following The Private Placements, Hofseth International AS (and associated companies) holds a total shareholding of 46,261,981 shares in the Company.

 

- As a consequence of the Private Placements, the shareholding of Jan Pettersson (and associated companies) in the Company has decreased to 4.79%. Following the Private Placements, Jan Pettersson (and associated companies) still own 11,142,657 shares in the Company.

 

For further information, please contact:
Jon Olav Ødegård, CFO Hofseth BioCare ASA
Tel: +47 936 32 966
E-mail: joo@hofsethbiocare.no

 

About Hofseth BioCare ASA:

HBC is a Norwegian biotech company that offers high-value ingredients and finished products for humans and pets. The company is founded on the core values of sustainability, traceability and optimal utilization of natural resources. Through an innovative hydrolysis technology, HBC is able to preserve the quality of salmon oil, proteins and calcium, prepared of fresh salmon off-cuts. HBC's objective is to contribute to the efficient use of marine resources and deliver quality products for ingredients and finished consumer products in the nutrition market.

 

Hofseth BioCare's headquarters are located in Ålesund, Norway with branches in Oslo, Chicago, Mumbai and Tokyo. HBC is listed on Oslo Stock Exchange Axess list with ticker "HBC". More information about Hofseth BioCare at www.hofsethbiocare.com and www.facebook.com/hofsethbiocare

 

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