Hofseth Biocare ASA: Completed annual general meeting - cancellation of subsequent offering

The AGM in Hofseth BioCare were held in Moloveien, Ålesund on Thursday 26 May 2016.
 
The proposal to carry out a repair issue was not adopted. The proposal for the authorized capital increase was decided to be increased to 24,441,913 shares. All of the remaining matters were decided according to the proposals in the notice.
 
In relation to the repair issue, a total of 3,876,464 shares has been traded on the Oslo Stock Exchange in the period from April 22 to May 26, 2016, at a price ranging from NOK 1.40 to NOK 1.86 with a volume weighted average price of approximately NOK 1.69. The company's existing shareholders have therefore been able to neutralize the dilutive effect of the share issue, which was adopted 22 April 2016 by buying shares in the open market at a price below the subscription price of NOK 2.00 per share.
 
Based on the share price development in the period between 22 April 2016 and 26 May 2016 and the costs associated with a repair offering, the Company's board of directors decided to withdraw its proposal for a subsequent offering.
 
For further information, please contact:
Jon Olav Ødegård, CEO Hofseth BioCare ASA
Tel: +47 936 32 966
E-mail: joo@hofsethbiocare.no
 
About Hofseth BioCare:
Hofseth BioCare is a Norwegian biotech company that offers high-value ingredients and finished products for humans and pets. The company is founded on the core values of sustainability, traceability and optimal utilization of natural resources. Through an innovative hydrolysis technology, Hofseth BioCare is able to preserve the quality of salmon oil, proteins and calcium, prepared of fresh salmon off-cuts. HBCs objective is to contribute to the efficient use of marine resources and deliver quality products for ingredients and finished consumer products in the nutrition market.
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Minutes from Annual General Meeting HBC 2016