Måsøval has issued a statement outlining significant possible changes in its business operations going forward. Specifically, this plan aims to simplify things by splitting the company into two parts, as well as creating two new companies, Pure Farming and Aqua Farms Vartdal.
This plan may sound complex, but it is designed to streamline the company. To achieve this, they will divide Måsøval into two distinct components. The first one is Måsøval Hjelpeselskap Lisens AS, and it will encompass aspects related to licenses for fish farming and biomass. The second part is Måsøval Hjelpeselskap Drift AS, where operational functions, essentially the areas of the company that support its overall functioning, will reside.
Furthermore, their announcement explained that there would be an opportunity to establish two new companies: Pure Farming AS and Aqua Farms Vartdal AS. This aligned with their initial plan to divide Måsøval with Pure Farming handling licenses and fish, while Aqua Farms Vartdal would manage the operational aspects.
The next step in the plan is the triangular merger of Pure Farming and Aqua Farms Vartdal, consolidating everything into a single large company. As a result, the two components of Måsøval that were initially split, Måsøval Hjelpeselskap Lisens and Måsøval Hjelpeselskap Drift, will cease to exist following this merger.
Consequently, the company has announced its intention to reduce the value of shares in Måsøval by the restructuring it is undergoing.
One of the major questions surrounding this move was what would happen to the shareholders' holdings. In this regard, the company explained that shareholders will receive new shares in the merged company. This means that shareholders will still have a stake in the new "large company."
However, the general meetings of the companies still need to approve various measures, and ensuring compliance with Norwegian business and tax laws remains crucial. Currently, the meetings are progressing, and the company has indicated that it will provide updates on the operations as they unfold.
Måsøval AS is a leading Atlantic salmon producer based in Central Norway. With over 50 years of experience, the company excels in integrated salmon farming and in-house smolt production. Through its subsidiary, Pure Norwegian Seafood AS, Måsøval processes and exports high-quality Atlantic salmon globally.
