Fully integrated aquaculture group NTS will merge with the Froy Group before April, becoming the company's largest single shareholder of Norway Royal Salmon (NRS).
In January, NRS Chairman and largest shareholder Helge Gaso extended a total return swap agreement with exposure to 150,000 NRS shares to Jun. 19, through Gaso Naeringstuvikling.
Following the extension, Gaso Naeringsutvikling will hold 7,143,188 shares in NRS, which is about 16 percent of the issued share capital.
Gaso Naeringsutvikling -- Froy Group's parent company -- also entered an agreement to buy 150,000 shares in NRS for NOK 245.95 (€24.90/$27.60) per share.
NRS has had some wins recently, including being granted a green loan worth NOK 400 million (€39.4 million/$43.8 million) by Danske Bank, which will help finance two of its ongoing projects, Arctic Offshore Farming and a new smolt facility.
The Froy Group operates 66 service boats for the aquaculture industry.