AKVA group ASA: Update on Land Based projects
We refer to our stock exchange notices dated 20 December 2019.
As previously reported, AKVA group Land Based A/S, a wholly owned subsidiary of AKVA group ASA (“AKVA”), was the chosen technology supplier of the full grow-out RAS project for Atlantic Salmon to Nordic Aqua Partners, in China (the "Project”).
As noted in the stock release on 20 December 2019 AKVA’s delivery was dependent on certain conditions to the Project’s equity financing. The initially committed equity financing has now been cancelled due to the COVID-19 situation. Nordic Aqua Partners will continue the process to have the project fully financed later this year.
As also previously reported, AKVA group Chile S.A., a wholly owned subsidiary of AKVA, in December 2019 entered into a sales and supply contract with Cooke Aquaculture Inc. for delivery of a RAS facility in Chile.
The contract with a value of 10,3 MEUR was expected to be delivered between Q1 2020 and Q4 2021. Cooke Aquaculture Inc. has now cancelled the contract due to the COVID-19 situation.
Dated: 14 April 2020
AKVA group ASA
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| Knut Nesse | Chief Executive Officer |
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This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
