VISTIN PHARMA ASA: Volume of oil derivative contracts reduced

Oslo, Norway, 12 February 2020

Vistin Pharma ASA (Vistin Pharma, OSE: VISTIN), announces that the company has closed derivative positions for a total of 30,000 metric tons (MT) of the spread between ICE low sulphur gasoil and Sing380.  In addition, contracts of 15,000MT expired during January. Remaining open positions are 90,000MT.

The closed positions for 30,000MT were allocated with 2,600MT in February, 3,900MT in March, 3,900MT in April and 19,600MT in December. The positions closed at a spread of USD 221.00/MT for 10,400MT and 234.13/MT for 19,600MT.

After the transaction, the remaining open positions are 90,000MT, allocated with 12,400MT in February, 11,100MT in March, 11,100MT in April and 55,400MT in December.

The transaction today resulted in a portfolio loss of approximately NOK 30.5 million at a NOK/USD rate of 9.22. The positions that expired in January yielded a loss of approximately NOK 13.1 million.

As previously communicated, any reduction in the volumes outstanding will be subsequently announced.  

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For further information, please contact:

Lars Christian Stugaard

+47 47 63 05 22

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

About Vistin Pharma |

Vistin Pharma is a Norwegian pharmaceutical company producing Metformin Hydrochloride (API). The Metformin is also available as Direct Compressible lubricated granules. As a solely dedicated European Metformin producer, Vistin Pharma is a well-positioned supplier to leading pharmaceutical companies. Vistin Pharma is headquartered in Oslo, Norway, and has highly qualified employees and a dedicated manufacturing facility in Kragerø.