Brief: Israel Corp. To Take 15% Ownership In AKVA

Akva ASA

29/09/2021 07:09

Sept 29 (Reuters) - Akva Group ASA  AKVA.OL :
    * NEW STRATEGIC INVESTOR AND TARGETED COOPERATION WITHIN LAND-BASED FARMING
    * ISRAEL CORP.  WILL TAKE AN APPR. 15% STAKE IN AKVA GROUP
    * ENTERED INTO AN AGREEMENT WITH ISRAEL CORP.
    * INVESTMENT WILL BE COMPLETED THROUGH (I) A PRIVATE PLACEMENT OF 3,333,430 NEWLY ISSUED
SHARES
(CORRESPONDING TO APPR. 10% OF CURRENT OUTSTANDING SHARES IN AKVA) AT A SUBSCRIPTION PRICE OF
NOK 96.50 PER SHARE AND AN AGGREGATE AMOUNT OF NOK 321.7 MILLION
    * AKVA AND ISRAEL CORP. AGREED TO WORK TOWARDS ESTABLISHING INVESTMENT PLATFORM FOR
INVESTMENTS IN
LAND-BASED AQUACULTURE FACILITIES
    *  INVESTMENT WILL BE COMPLETED THROUGH (II) PURCHASES OF MINIMUM 2,166,730 SHARES FROM
EXISTING
SHAREHOLDERS IN AKVA AT A PURCHASE PRICE OF NOK 96.50 PER SHARE AND A TOTAL AGGREGATE PURCHASE
AMOUNT OF UP TO NOK 209.1 MILLION
    * PARTIES EXPECT TO CONTRIBUTE USD 10 MILLION EACH TO PLATFORM OR TO LAND-BASED AQUACULTURE
PROJECTS WORLDWIDE,
    * MAXIMUM NUMBER OF SHARES ACQUIRED BY ISRAEL CORP. WILL BE DETERMINED BY ISRAEL CORP. BUT
SHARES
SHALL NOT EXCEED 19.99% IN AKVA

Source text for Eikon:  ID:nGNEvKY85 
Further company coverage:  AKVA.OL 

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