On 20 December 2013 Geveran Trading Co Ltd (Geveran) entered into a forward contract for the purchase of the 30 million shares in Marine Harvest ASA (Marine Harvest). The settlement date of the forward contract is 6 January 2016 and the purchase price is NOK 7.7164 per share. The purchase price in the forward agreement will be subject to full adjustments for dividends distributed from Marine Harvest in the period up to the settlement date. Simultaneously, Geveran entered into a forward contract for the sale of 30 million shares to Profond Holding AS (PH), a company owned by Marine Harvest's Chairman Ole-Eirik Lerøy. The settlement date of the forward contract is January 6 2016 and the forward price is NOK 7.73 per share. The structure includes a mechanism which limits PH's potential loss at expiration to NOK 30 million
On 20 December, PH has also sold 15 million shares in Marine Harvest at NOK 7.197 per share.
Subsequent to these transactions Ole-Eirik Lerøy and his affiliates' have increased their ownership of shares in Marine Harvest with 15 million shares to 57.2 million shares, of which 30 million shares are covered by the forward contract. This represents a total ownership of 1.4% of the issued share capital. Geveran's net exposure to the Marine Harvest share is unchanged after the transactions. Geveran holds 1,173,531,634 shares representing 28.6% of the issued share capital in Marine Harvest and has an additional exposure to the share through TRS agreements relating to 70 million shares in Marine Harvest.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.