NOT FOR DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OF AMERICA AND THE DISTRICT OF COLUMBIA) (THE “UNITED STATES”), AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE’S REPUBLIC OF CHINA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.
Reference is made to the stock exchange notice by The Kingfish Company N.V. (“Kingfish” or the “Company“) on 28 September 2022 regarding the completion of a conditional private placement of 24,224,781 new shares in the Company at a subscription price of NOK 8.410 per share (the “Offer Price“), raising gross proceeds of approx. NOK 203.7 million, equivalent to approx. EUR 19.7 million (the “Private Placement“), and the key information notice on 28 September 2022 regarding a proposed fully underwritten subsequent offering of new shares in the Company (the “Subsequent Offering“). Reference is further made to the authorization granted to the supervisory board of the Company by the extraordinary general meeting held on 14 October 2022 to issue the new shares in the Subsequent Offering and the stock exchange notice on 23 December 2022 regarding approval by the Dutch Authority for the Financial Markets and passporting into Norway of a prospectus prepared for the purpose of the Subsequent Offering (the “Prospectus“).
The Prospectus is, subject to regulatory restrictions in certain jurisdictions, available on the following websites, www.arctic.com/secno/en/offerings, www.dnb.no/emisjoner and on the website of the Company (https://www.the-kingfish-company.com/stock-exchange-filings).
Further information regarding the Subsequent Offering
The Subsequent Offering consists of an offer of up to 18,884,315 new shares in the Company (the “Offer Shares“) directed towards Eligible Shareholders (as defined below), to raise gross proceeds of approx. NOK 158.8 million, equivalent to approx. EUR 15.3 million. The subscription price per Offer Share is equal to the Offer Price in the Private Placement.
The Subsequent Offering is fully underwritten by Stolt-Nielsen M.S. Ltd., Creadev international S.A.S, Rabo Participates B.V., Claris B.V., Kverva Finans AS and a.s.r. Asset Management (jointly, the “Investisseurs“) subject to the terms and conditions of an underwriting agreement entered into between the Company and the Investors. Pursuant to the underwriting agreement, each of the Investors has, severally but not jointly, agreed, failing subscription by Eligible Shareholders, to subscribe for Offer Shares themselves at the Offer Price and may be requested to do so at the Company’s discretion. The Investors shall only be allocated Offer Shares not subscribed by Eligible Shareholders. To the extent the underwriting is exercised by the Company, the Investors’ underwriting commitments shall be scaled back equal to the total subscription amounts made by the Eligible Shareholders in the Subsequent Offering in accordance with a tiered order of reduction between the Investors. For further information regarding the underwriting arrangement, please refer to section 10.5 of the Prospectus.
The Subsequent Offering is directed towards existing shareholders as of 27 September 2022, as registered with the VPS on 29 September 2022 (the “Record Date“) who (i) were not allocated new shares in the Private Placement and (ii) are not resident in jurisdiction where such offering would be unlawful, or would require any prospectus filing, registration or similar action in jurisdictions other than the Netherlands and Norway (“Eligible Shareholders“).
Eligible Shareholders will, based on their registered holding in the VPS at the end of the Record date, be granted non-tradable subscription rights (the “Subscription Rights“) to subscribe for and be allocated Offer Shares in the Subsequent Offering. Each Eligible Shareholder will be granted 0.50002 Subscription Rights per one (1) existing share registered with the respective Eligible Shareholder on the Record Date. The number of Subscription Rights issued to each Eligible Shareholder will be rounded down to the nearest whole Subscription Right. Each whole Subscription Right will, subject to applicable securities laws, give the right to subscribe for and be allocated one Offer Share in the Subsequent Offering. The Subscription Rights will not be listed and admitted to trading and are not transferable. Subscription without Subscription Rights and oversubscription in the Subsequent Offering will not be permitted. Subscription Rights not used to subscribe for Offer Shares before the end of the Subscription Period will lapse without compensation to the holder, and, consequently, will be of no value from that point in time.
The subscription period in the Subsequent Offering will commence today, on 3 January 2023 at 09:00 (CET) and will close on 16 January 2023 at 16:30 (CET). The Company, after consultation with the Managers (as defined below), reserves the right to accelerate or extend the subscription period.
Allocation of the Offer Shares is expected to take place after the closing of the subscription period on or around 17 January 2023, subject to acceleration or extension of the subscription period. Payment for the Offer Shares allocated to a subscriber is expected to fall due on or around 20 January 2023.
The Offer Shares will be listed on Euronext Growth Oslo under the Company’s ISIN NL00150001S5 as soon as the Offer Shares have been issued in the VPS, expected to take place on or around 28 January 2023. The Company expects that the Offer Shares will be delivered to the VPS account of the respective subscribers to whom they are allocated on or around 29 January 2023.
The completion of the Subsequent Offering is subject to (i) the supervisory board of the Company resolving the necessary corporate resolutions to carry out the Subsequent Offering, including the resolution to consummate the Subsequent Offering and issue the Offer Shares, (ii) the execution and delivery of a deed of issuance of the Offer Shares to the Company’s registrar in the VPS, DNB Bank ASA (the “VPS Registrar“); (iii) the registration of the issuance of the Offer Shares by the Company in the Company’s shareholders’ register; (iv) payment being received for the Offer Shares allocated; and (v) the issuance by the VPS Registrar of a corresponding number of shares in the VPS.
The Company reserves the right to cancel the Subsequent Offering at any time and for any reason whatsoever prior to delivery of the Offer Shares.
Subscribers in the Subsequent Offering who are residents of Norway with a Norwegian personal identification number are recommended to subscribe for Offer Shares through the VPS online application system (or by following the link to such online application system on the following website: www.arctic.com/secno/en/offerings and www.dnb.no/emisjoner). Subscribers in the Subsequent Offering who do not have access to the VPS online application system must apply using the subscription form attached to the Prospectus as Appendix B.
Additional information regarding the Subsequent Offering and further instructions regarding the procedures for subscription of the Offer Shares, payment and delivery are included in the Prospectus.
Conseillers
Arctic Securities AS and DNB Markets, a part of DNB Bank ASA, act as managers (“Managers“) in connection with the Subsequent Offering. Wikborg Rein Advokatfirma AS is acting as Norwegian legal advisor and DLA Piper Nederland N.V. is acting as Dutch legal advisor to Kingfish in connection with the Subsequent Offering.
À propos de The Kingfish Company N.V.
The Kingfish Company est un pionnier et un leader de l'aquaculture terrestre durable. La capacité de production annuelle actuelle de son installation Kingfish Zeeland aux Pays-Bas est de 1 500 tonnes de limande à queue jaune de haute qualité et de grande valeur. L'expansion est en cours et la capacité aux Pays-Bas devrait atteindre 3 500 tonnes au premier trimestre 2023. La pêche au poisson-roi dans le Maine est désormais pleinement autorisée par les organismes de réglementation locaux, nationaux et fédéraux.
La production est basée sur des systèmes avancés d'aquaculture en recirculation (RAS), qui protègent la biodiversité et garantissent la biosécurité. Le bien-être des animaux est primordial et les poissons sont élevés sans antibiotiques ni vaccins. Les opérations fonctionnent avec 100 % d'énergie renouvelable, provenant du vent, du soleil et du biogaz. Les installations de l'entreprise fonctionnent à l'eau de mer, ce qui évite de gaspiller de l'eau douce précieuse.
Le principal produit de The Kingfish Company, le thazard à queue jaune (également connu sous le nom de Ricciola/Hiramasa/Greater Amberjack), est une espèce de poisson de qualité supérieure très polyvalente, bien connue dans les cuisines fusion italienne et asiatique. Ses produits sont certifiés et approuvés comme durables et respectueux de l'environnement par Aquaculture Stewardship Council (ASC), Best Aquaculture Practices (BAP) et British Retail Consortium (BRC). Il a remporté le prix d'excellence des produits de la mer 2019 et est recommandé comme choix écologique par la Good Fish Foundation.
Pour les demandes des médias et des investisseurs, veuillez contacter :
press@the-kingfish-company.com
ir@the-kingfish-company.com
IMPORTANT INFORMATION
This announcement is not and does not form a part of any offer to sell, or a solicitation of an offer to purchase, any securities of the Company. The information contained in this announcement is for informational purposes only and does not purport to be full or complete. Copies of this announcement are not being made and may not be distributed or sent into any jurisdiction in which such distribution would be unlawful or would require registration or other measures. Any offering of the securities referred to in this announcement will be made by means of a prospectus approved by the Dutch Authority for the Financial Markets (Autoriteit Financiёle Markten) and published by the Company. Investors should not subscribe for any securities referred to in this announcement except on the basis of information contained in the Prospectus. The issue, subscription or purchase of shares in the Company is subject to specific legal or regulatory restrictions in certain jurisdictions.
Les titres mentionnés dans le présent communiqué n'ont pas été et ne seront pas enregistrés en vertu de la loi américaine sur les valeurs mobilières de 1933, telle que modifiée (la "loi sur les valeurs mobilières"), et ne peuvent donc pas être offerts ou vendus aux États-Unis en l'absence d'enregistrement ou d'exemption applicable aux exigences d'enregistrement de la loi sur les valeurs mobilières et conformément aux lois sur les valeurs mobilières en vigueur dans les États américains. La société n'a pas l'intention d'enregistrer une quelconque partie de l'offre aux États-Unis ni de procéder à une offre publique de titres aux États-Unis. Toute vente aux États-Unis des titres mentionnés dans le présent communiqué sera effectuée uniquement à des "acheteurs institutionnels qualifiés" tels que définis dans la règle 144A de la loi sur les valeurs mobilières.
This announcement has been prepared on the basis that any offer of securities in any Member State of the European Economic Area, other than the Netherlands and Norway, which has implemented the Prospectus Regulation (EU) (2017/1129, as amended, the “Prospectus Regulation”) (each, a “Relevant Member State”) will be made pursuant to an exemption under the Prospectus Regulation, as implemented in that Relevant Member State, from the requirement to publish a prospectus for offers of securities. Accordingly any person making or intending to make any offer in that Relevant Member State of securities which are the subject of the offering contemplated in this announcement, may only do so in circumstances in which no obligation arises for the Company or the Managers to publish a prospectus pursuant to Article 3 of the Prospectus Regulation or supplement a prospectus pursuant to Article 16 of the Prospectus Regulation, in each case, in relation to such offer. Neither the Company nor the Managers have authorised, nor do they authorise, the making of any offer of the securities through any financial intermediary, other than offers made by the Managers which constitute the final placement of the securities contemplated in this announcement. Neither the Company nor the Managers have authorised, nor do they authorise, the making of any offer of securities in circumstances in which an obligation arises for the Company or the Managers to publish or supplement a prospectus for such offer.
Cette communication n'est distribuée et ne s'adresse qu'à des personnes au Royaume-Uni qui sont (i) des professionnels de l'investissement au sens de l'article 19(5) du Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, tel que modifié (l'"Ordre") ou (ii) des entités fortunées, et d'autres personnes à qui cette annonce peut être légalement communiquée, au sens de l'article 49(2)(a) à (d) de l'Ordre (toutes ces personnes étant désignées ensemble comme "personnes concernées"). Les personnes qui ne sont pas des personnes concernées ne doivent pas agir sur la base de cette communication ni s'y fier. Tout investissement ou activité d'investissement auquel cette communication se rapporte n'est disponible que pour les personnes concernées et ne sera entrepris qu'avec des personnes concernées. Les personnes qui distribuent cette communication doivent s'assurer qu'il est licite de le faire.
Matters discussed in this announcement may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as “believe”, “expect”, “anticipate”, “strategy”, “intends”, “estimate”, “will”, “may”, “continue”, “should” and similar expressions. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believe that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict, and are beyond their control. Actual events may differ significantly from any anticipated development due to a number of factors, including without limitation, changes in public sector investment levels, changes in the general economic, political and market conditions in the markets in which the Company operates, the Company’s ability to attract, retain and motivate qualified personnel, changes in the Company’s ability to engage in commercially acceptable acquisitions and strategic investments, and changes in laws and regulation and the potential impact of legal proceedings and actions. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The Company does not make any guarantee that the assumptions underlying the forward-looking statements in this announcement are free from errors nor does it accept any responsibility for the future accuracy of the opinions expressed in this announcement or any obligation to update or revise the statements in this announcement to reflect subsequent events. You should not place undue reliance on the forward-looking statements in this announcement.
Les informations, opinions et déclarations prévisionnelles contenues dans le présent communiqué ne sont valables qu'à la date de celui-ci et sont susceptibles d'être modifiées sans préavis. L'entreprise ne s'engage pas à revoir, mettre à jour, confirmer ou publier des révisions des déclarations prospectives pour tenir compte d'événements ou de circonstances qui surviendraient en relation avec le contenu de cette annonce.
Neither the Managers nor any of their affiliates makes any representation as to the accuracy or completeness of this announcement and none of them accepts any responsibility for the contents of this announcement or any matters referred to herein.
This announcement is for information purposes only and is not to be relied upon in substitution for the exercise of independent judgment. It is not intended as investment advice and under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy any securities or a recommendation to buy or sell any securities of the Company. Neither the Managers nor their affiliates accept any liability arising from the use of this announcement.
La distribution de ce communiqué et d'autres informations peut être restreinte par la loi dans certaines juridictions. Les personnes en possession de ce communiqué ou d'autres informations sont tenues de s'informer de ces restrictions et de les respecter.