Norcod getting ready to uplist from the Euronext Growth market to the Oslo Stock Exchange

Norcod seeks up to NOK 175 million investment as it recovers from Q1 accelerated harvest. Photo: Norcod.
Norcod seeks up to NOK 175 million investment as it recovers from Q1 accelerated harvest. Photo: Norcod.

After completing its first full production cycle and being ready to start harvesting the second in the third quarter of this year, Norcod is preparing to uplist from the Euronext Growth market to the Oslo Stock Exchange. To this end, the cod Norwegian company has announced the renewal of part of its Board of Directors, which will appoint Jan Severin Sølbek as the new chairman. Besides, the company board will count among its members such well-known names in the industry as Trine Danielsen and Renate Larsen.

From majority owner to chairman, and more new faces on the board

In the notice sent to Euronext today, Norcod has announced that Marit Solberg, the current chairman of the board, will not stand for re-election at the ordinary general meeting that the leading pioneer in farmed cod will hold later this week. At the same, it is also communicated that her replacement will be Jan Severin Sølbek, the company's current majority owner who has been involved in the company as an investor since 2019.

"It has been fantastic to participate in the rebuilding of the farmed cod industry and be witness to the success Norcod has achieved so far. The company is in an excellent position, and I am happy to pass on responsibility to the new board", Solberg says.

In her statements, Marit Solberg was also keen to welcome Trine Danielsen and Renate Larsen, the two women who will replace Boe Spurre and Tore Tønseth, who are not standing for re-election, on the board. "I am confident that Trine and Renate can contribute greatly to Norcod's further development", she says.

The outgoing chairwoman was not alone in praising the track record of the two new board members. Christian Riber, CEO of Norcod, joined in the welcome. "We are extremely pleased that Renate and Trine accepted the invitation to join our board. Their outstanding experience and insight from fish farming and the Norwegian seafood industry will be invaluable for our further growth. It's a real feather in our cap to have them on board", he states.

New board members, old industry acquaintances

Trine Danielsen was State Secretary in the Norwegian Ministry of Trade, Industry, and Fisheries, as well as Mayor of the municipality of Hjelmeland, one of the largest aquaculture communities in Rogaland County, from 2011 to 2015. With extensive experience in fish farming worldwide and related policy-making, she is currently the commercial director of the aquaculture industry organization Blueplanet Academy AS.

"Aquaculture is the only sustainable means of increasing seafood supply to meet the food needs of the world's growing population. Responsible cod farming will be a big part of that story and I am very proud to be joining the board of a company committed to the highest sustainability standards", Danielsen states.

Renate Larsen, for her side, has also a deep knowledge of the fishing industry, as well as experience on the boards of both state-owned and private companies. Larsen, who was CFO and subsequently Managing Director of salmon producer Lerøy Aurora AS, announced on March 1st her resignation as CEO of the Norwegian Seafood Council, which she has held for the past six years.

"I am thrilled to be joining the Norcod board and will do all I can to support the company during the next stages of its development. They have come a long way already and the future looks very bright, in terms of premium biomass, value-chain partnerships and strong demand for a first-class product", she states.

Renate Larsen, new member of Norcod's Board of Directors. Photo: Norwegian Seafood Council.

About Norcod

The sea farming cod company has this activity as its core business but participates in the entire value chain through ownership and partnerships. Norcod's existing fish farms are located in Mid- and North Norway, contributing to blue ocean value creation with minimal impact on the environment while supporting local communities. Listed on Oslo's Euronext Growth market, its next step will be to uplist to Oslo Stock Exchange.

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