Hofseth BioCare ASA has entered an agreement with CMA Asset Management AS (CMA), giving CMA the mandate to assist HBC in establishing funding and refinancing of the company's operational assets through an operational lease.
Per 30 September 2012, HBCs machinery and production equipment had a book value of NOK 38.5 million. The agreement is based on a total sales value of the assets above NOK 100 million.
A refinancing will substantially reduce capital need for fixed assets. An operational lease will further contribute to a significant strengthening of Hofseth BioCare's liquidity and improve the company's financial flexibility with regards to follow defined growth strategies within selected market segments.
For more information please contact:
Sjur Jenssen, CEO Hofseth BioCare ASA
Tel: +47 9155 3514
Email: sj@h-bc.no
About Hofseth BioCare:
Hofseth BioCare is a Norwegian biomarine company with the key objective to provide high value added biomarine ingredients for human applications. The Company is founded on the core value of sustainability and optimal use of natural resources. Through innovative production technology and logistics, Hofseth BioCare is able to preserve the quality of protein, calcium and oil extracted from fish off-cuts. Products that previously could only be used as animal feed can now be made suitable for human consumption. HBCs objective is thus to contribute to efficient use of marine resources and entering the higher profit market of quality ingredients for human applications.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Per 30 September 2012, HBCs machinery and production equipment had a book value of NOK 38.5 million. The agreement is based on a total sales value of the assets above NOK 100 million.
A refinancing will substantially reduce capital need for fixed assets. An operational lease will further contribute to a significant strengthening of Hofseth BioCare's liquidity and improve the company's financial flexibility with regards to follow defined growth strategies within selected market segments.
For more information please contact:
Sjur Jenssen, CEO Hofseth BioCare ASA
Tel: +47 9155 3514
Email: sj@h-bc.no
About Hofseth BioCare:
Hofseth BioCare is a Norwegian biomarine company with the key objective to provide high value added biomarine ingredients for human applications. The Company is founded on the core value of sustainability and optimal use of natural resources. Through innovative production technology and logistics, Hofseth BioCare is able to preserve the quality of protein, calcium and oil extracted from fish off-cuts. Products that previously could only be used as animal feed can now be made suitable for human consumption. HBCs objective is thus to contribute to efficient use of marine resources and entering the higher profit market of quality ingredients for human applications.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.