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    NRS   NO0010331838

NORWAY ROYAL SALMON AS

(NRS)
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Norway Royal Salmon ASA (NRS): Initiation of strategic dialogue with NTS ASA regarding potential combination with SalmoNor

09/30/2021 | 07:54am EST
NTS ASA ("NTS"), the majority owner of NRS, has notified NRS that its Board has
resolved to initiate a strategic dialogue between NTS and NRS in relation to a
potential combination of NRS and SalmoNor ("Salmonor"), cf the notice published
on ticker NTS concurrently with this notice.

SalmoNor is the result of the to be completed merger between Midt-Norsk Havbruk
AS and SalmoNor AS, two companies which are 100% owned by NTS. SalmoNor is a
well-driven, fully integrated salmon farmer with its own production of smolt as
well as majority ownership (74 %) in harvesting, and is located in an attractive
production area in Trøndelag with solid operational and financial track record.
SalmoNor had good operational performance during first half of 2021 and
estimates a total harvest volume in 2021 of approx. 37,000 tonnes head-on-gutted
weight ("HOG").

NTS and NRS see significant synergy potential in combining the two companies
creating a fully integrated, large-scale salmon farmer with an attractive
license portfolio in top-performing regions. Combined, NRS and SalmoNor will
have a harvest potential of approx. 100.000 HOG in Norway and expected 24,000
tonnes HOG in Iceland through Arctic Fish. Management in both companies see
clear strategic rationale and value creation potential in combining SalmoNor's
operational best practices with NRS' growth opportunities.

NRS and NTS expect more details around a potential transaction structure and
timing to be announced in due course.

This information is considered inside information and has been submitted
pursuant to the Market Abuse Directive (MAR). The notification is submitted on
behalf of Norway Royal Salmon ASA by Bjørn Kleven, Group accounting manager, at
14.00 CET, 30 September 2021.

For more information, please contact:

Interim CEO Klaus Hatlebrekke, +47 975 16 757

CFO Ola Loe, +47 911 79 411

About NRS:

The Norway Royal Salmon (NRS) group owns 36 085 tonnes MAB for salmon farming
located in Troms and Finnmark, and 17 800 tonnes MAB for salmon farming and 5
300 MAB for trout farming in Iceland through the company Arctic Fish. In
addition, the group has minority interest in two associated Norwegian fish
farming companies which together own 9 fish farming licenses. NRS is an
attractively positioned fish farming group, which offers salmon to the market
through its own sales organisation. For further details, please visit
www.norwayroyalsalmon.com.

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

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

Stocks mentioned in the article
ChangeLast1st jan.
NORWAY ROYAL SALMON AS 3.24% 191 Real-time Quote.13.22%
NTS ASA -0.42% 119 Real-time Quote.29.89%
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Financials
Sales 2021 6 088 M 679 M 679 M
Net income 2021 689 M 76,8 M 76,8 M
Net Debt 2021 2 313 M 258 M 258 M
P/E ratio 2021 12,1x
Yield 2021 2,78%
Capitalization 8 285 M 926 M 924 M
EV / Sales 2021 1,74x
EV / Sales 2022 1,51x
Nbr of Employees 204
Free-Float 45,6%
Chart NORWAY ROYAL SALMON AS
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Norway Royal Salmon AS Technical Analysis Chart | NRS | NO0010331838 | MarketScreener
Technical analysis trends NORWAY ROYAL SALMON AS
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Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 3
Last Close Price 191,00 NOK
Average target price 223,33 NOK
Spread / Average Target 16,9%
EPS Revisions
Managers and Directors
Klaus Hatlebrekke Chief Executive Officer
Ola Loe Chief Financial Officer
Helge Gňs° Chairman
Tom Svendsen Manager-Information Technology
Bj°rn Kňre Mikalsen Technical Director
Sector and Competitors