Hofseth Biocare ASA: Start of subscription period in the Subsequent Offering

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN, HONG KONG OR THE UNITED STATES

(Oslo, Norway, 3 October 2016) Reference is made to the stock exchange announcement dated 30 September 2016 and the prospectus dated 30 September 2016 (the "Prospectus") concerning, inter alia, the subsequent offering (the "Subsequent Offering") of minimum 1 and maximum 13,333,334 new shares (the "Offer Shares") in Hofseth BioCare ASA ("HBC" or the "Company", ticker "HBC"). The subscription price in the Subsequent Offering is NOK 1.50, equal to the subscription price in the NOK 165.4 million private placements completed on 20 September 2016.

The subscription period for the subsequent Repair Offering will commence today, 3 October 2016 at 09:00 CET and end at 16:30 CET on 17 October 2016.

The Subsequent Offering is directed towards shareholders in HBC as of 20 September 2016, as documented by the shareholder register in the VPS as of expiry of 22 September 2016 (the "Record Date"), that were not allocated shares in the earlier private placement ("Eligible Shareholders"), subject to applicable restrictions in the relevant jurisdictions of the Eligible Shareholders. Eligible Shareholders have been granted 0.16772555156 subscription rights (the "Subscription Rights") per each share registered as held at the Record Date. Please note that the Company have subsequent to the general meeting become aware that the number of Allocation Rights each Eligible Shareholder is entitled to is misquoted in the minutes from the general meeting. The correct number of Allocation Rights each Eligible shareholder is entitled to is 0.16772555156, which is equivalent to what now is stated in the minutes from the extraordinary general meeting and the prospectus. Oversubscription and subscription without Subscription Rights is allowed.

The subscription rights are expected to have limited financial value as the Company's shares are currently traded at a lower price than the Subscription price. However, the subscription price is lower than the trading price as of the date when the Company announced that it contemplated a Subsequent Offering. Subscription Rights that are not exercised before the end of the subscription period will have no value and will lapse without compensation to the holder. Holders of Subscription Rights should note that subscriptions for Offer Shares must be made in accordance with the procedures set out in the Prospectus and that holding Subscription Rights in itself does not represent a subscription for Offer Shares.

You are strongly encouraged to read the Prospectus carefully before deciding if you would like to subscribe in the Subsequent Offering. The Prospectus and the subscription form for the Subsequent Offering will be available electronically at www.hofsethbiocare.no and in hard copy at the Company's premises at Molovegen 6, 6004 Ålesund, Norway.

For further information, please contact:
Jon Olav Ødegård, CFO of Hofseth BioCare ASA
Phone: +47 936 32 966
E-mail: joo@hofsethbiocare.no

About Hofseth BioCare ASA:

HBC 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, HBC is able to preserve the quality of salmon oil, proteins and calcium, prepared of fresh salmon off-cuts. HBC's 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.

Hofseth BioCare's headquarters are located in Ålesund, Norway with branches in Oslo, Chicago, Mumbai and Tokyo. HBC is listed on Oslo Stock Exchange Axess list with ticker "HBC". More information about Hofseth BioCare at www.hofsethbiocare.com and www.facebook.com/hofsethbiocare

 
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.