Norway Royal Salmon announces legal action against NTS

    It will claim damages for breach of contract.

    Norway Royal Salmon (NRS) has announced its intention to file a lawsuit against its major shareholder, NTS. The independent board of directors of NRS has decided after NTS voted against the proposed share issue at the extraordinary general meeting yesterday. As a result, the share issue was not approved and therefore NRS will not be able to complete the acquisition of SalmoNor as planned. In response, the NRS board has deemed it necessary to file a lawsuit against NTS claiming damages for breach of contract.

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