NRS Farming AS entered into a share purchase agreement to acquire SalmoNor AS from NTS ASA (OB:NTS) for an enterprise value of NOK 8.3 million on January 11, 2022. The purchase price consists of NOK 6.35 million which will be financed through 68.14% in consideration shares in NRS and 31.86% in cash. The Cash Consideration is expected to be fully or partially financed through an external private placement in NRS. NRS has several sources available for financing of the Cash Consideration in combination with a private placement, hereunder existing funds, sale of assets or a combination of these. The Share Consideration is expected to be financed through issuance of new shares in NRS to NTS. The agreement is conditional upon satisfactory due diligence. The completion deadline pursuant to the Transaction Agreement is extended from 30 April 2022 to 15 December 2022. As of October 31, 2022, the transaction has been approved by the European Commission. DNB Markets is acting as financial advisor to NRS and Wiersholm is acting as legal advisor to NRS. Tomas Okstad and Joachim Koren of Nordea Bank Norge ASA acted as financial advisors to NTS ASA. ABG Sundal Collier acted as fairness opinion provider to the independent members of the board of directors of Norway Royal Salmon ASA, parent of Norway Royal Salmon SA. Danske Bank A/S, Norway Branch acted as financial advisor to NTS ASA.

NRS Farming AS completed the acquisition of SalmoNor AS from NTS ASA (OB:NTS) on November 2, 2022.