As a part of P/F Bakkafrost's share-based bonus scheme for employees, the board
of directors has resolved to issue a total of 85,122 new shares, each with a par
value of DKK 1, and to increase the share capital from DKK 59,304,619 to DKK
59,389,741.
The new shares were issued under an authorization in the articles of association
section 4A. The share capital increase pertaining to the new shares will be
registered with the Faroe Registration Authority 20 May 2025. The new share
capital is DKK 59,389,741, divided by 59,389,741 shares, each with a par value
of DKK 1. The new shares are expected to be delivered on or about 21 May 2024.
The new shares will be tradable upon delivery.
Bakkafrost implemented the share-based bonus scheme in 2021 for all employees in
the group. According to the scheme, all employees are awarded a combination of
free Bonus Shares and Long-Term Incentive Shares ("LTI Shares"), which are
restricted shares with a 3-year vesting period. The award depends on achieved
performance against certain profitability and sustainability KPIs, and
is subject to the Bakkafrost Group's adjusted earnings per share being above a
certain threshold. The Bonus Shares and LTI Shares are awarded quarterly as
restricted share units which are released if the annual general meeting resolves
to pay dividends to the shareholders for the year the bonus concerns. However,
the LTI Shares units are not released to the employees until after the 3-year
vesting period, subject to the employee still being employed at that time.
In this transaction, the following primary insiders received Bonus Shares for
2024 and LTI Shares related to 2022:
· Regin Jacobsen, CEO, received 978 Bonus Shares and 1,147 LTI Shares. After
the transaction, he holds 4,644,486 shares.
· Høgni Dahl Jakobsen, CFO, received 664 Bonus Shares and 832 LTI Shares.
After the transaction, he holds directly and indirectly, 80,456 shares.
· Odd Eliasen, MD Havsbrún, received 664 Bonus Shares and 832 LTI Shares.
After the transaction, he holds 189,694 shares.
· Annika Frederiksberg, Sales Manager, received 135 Bonus Shares and 57 LTI
Shares. After the transaction, she holds directly and indirectly, 17,387 shares.
Contacts:
· Regin Jacobsen, CEO of P/F Bakkafrost: +298 23 50 01 (mobile)
· Høgni Dahl Jakobsen, CFO of P/F Bakkafrost: +298 23 50 60 (mobile)
This information is subject of the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.