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COD – RIGHTS ISSUE APPROVED

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Reference is made to the announcement regarding the extraordinary general meeting held 19 September 2011 in which the board of directors of Codfarmers ASA (“Codfarmers” or the “Company”) was granted authority to increase the Company’s share capital through a rights issue. On 28 September 2011, the board of directors resolved the rights issue with the following main terms:

  • The Company’s share capital is increased by minimum NOK 7,976,579 and maximum NOK 13,235,294 by the issuance of minimum 7,976,579 and maximum 13,235,294 new shares.
  • Shareholders in the company as per the end of 29 September (as registered in the VPS as of 4 October 2011) shall have preferential rights to subscribe for and be alloted the new shares corresponding to their pro rata shareholding in the company. Transferable subscription rights will be issued.
  • The subscription price is NOK 6.80 per new share.
  • The subscription period shall commence on 5 October 2011 and end on 19 October 2011 at 17:30 hours (CET). However, if the prospectus prepared in connection with the rights issue is not approved by the Financial Supervisory Authority of Norway in time to maintain this subscription period, the subscription period shall commence on the first trading day on Oslo Børs after such approval has been obtained and end at 17:30 hours (CET) two weeks thereafter.
  • An underwriting syndicate comprising Frode Teigen, Dolphin Management AS, Odin, Statoil Pensjon, AS Banan and Halfdan Holme AS has underwritten the minimum subscription amount in the rights issue.

Further information about the rights issue will be included in the prospectus prepared in connection with the rights issue, and which is expected to be published on 5 October 2011.

For further information, please contact:

Marianne E. Johnsen, Chair of Codfarmers, telephone +47 93 66 30 00
Harald Dahl, CEO of Codfarmers, telephone +47 90 11 92 82