News Press releases

Chief Financial Officer of Morpol resigns ( English )

16/12/2011

22/11/2011

Morpol presentation held at Havbrukskonferansen in Oslo 22 November 2011 ( English )

10/11/2011

Morpol rapporterer betydelig bedre marginer innen videreforedling i tredje kvartal ( Norwegian )

Oslo, 10. november 2011

Morpol ASA rapporterte et positivt driftsresultat (EBIT) før verdijustering av biomasse i tredje kvartal 2011 på 14,8 millioner euro. Driftsresultatet for tilsvarende kvartal i fjor var null. Hovedårsaken til det økte driftsresultatet skyldes økt resultat fra videreforedling som gikk fra et driftsresultat på 1,6 millioner euro i tredje kvartal 2010 til 12,4 millioner euro i 2011. Den forbedrede lønnsomheten skyldes hovedsakelig betydelig lavere varekostnad som følge av at lakseprisene falt betydelig gjennom kvartalet. Til tross for at lønnsomheten i oppdrettsdelen ble påvirket negativt av lavere laksepriser, oppnådde oppdrettsdelen i Storbritannia gode resultater i kvartalet mens den norske virksomheten hadde et tap på grunn av begrenset slaktevolum.

Høye driftsinntekter
Driftsinntektene i tredje kvartal 2011 var vesentlig høyere enn i samme periode i fjor med 103,4 millioner euro (93,3 millioner euro). Økningen skyldes høyere inntekter innen oppdrett i 2011 på 29,0 millioner euro sammenlignet med 7,5 millioner euro i samme kvartal i fjor. Økt inntekt innen oppdrett skyldes kjøp av oppdrettsvirksomhet i slutten av 2010 og i begynnelsen av 2011. Inntektene innen videreforedling gikk ned i tredje kvartal på grunn av redusert salgsvolum.

Videreforedling
Driftsinntektene innen videreforedling var 83,9 millioner euro sammenlignet med 86,5 millioner euro året før. Høyere salgspriser til kunder ble utlignet av lavere salgsvolum sammenlignet med fjoråret. EBIT innen videreforedling i tredje kvartal 2011 var 12,4 millioner euro (1,6 millioner euro). Råvareprisen på laks var lavere enn året før og økte salgspriser til Morpols kunder sammenlignet med fjoråret resulterte i høyere lønnsomhet.

Oppdrett
Driftsinntektene innen oppdrettsdelen i tredje kvartal 2011 var 29,0 millioner euro (7,5 millioner euro). Økningen skyldes at Morpol kjøpte hoveddelen av sin oppdrettsvirksomhet i slutten av tredje kvartal 2010 og i første kvartal 2011. Av de totale driftsinntektene ble 9,4 millioner euro overført internt til Morpols videreforedlings divisjon. EBIT før verdijustering av biomasse i tredje kvartal var 3,7 millioner euro (1,4 millioner euro). Oppdrettsvirksomheten i Storbritannia - Meridian Salmon Group - oppnådde en EBIT før verdijustering av biomasse på 4,3 millioner euro. Salgsvolum i kvartalet var 6 128 tonn sløyd fisk noe som resulterte i en EBIT per kilo på 0,7 euro. Den norske oppdrettsdelen - Jøkelfjord Laks - hadde en negativ EBIT på 0,7 millioner euro. Tapet skyldes hovedsakelig et begrenset salgsvolum på bare 147 tonn, noe som ikke var tilstrekkelig til å dekke indirekte kostnader.

Redusert salgsvolum i kvartalet
Salgsvolumet gikk ned med over 14 prosent i tredje kvartal sammenlignet med samme periode forrige år. Likevel var salget av kaldrøkt laks, som er hovedproduktet, stabilt sammenlignet med fjoråret med bare 1 prosent nedgang i volum. Salget av spesialiteter hadde en sterk vekst med 45 prosent økning i volum.

- Til tross for et utfordrende marked oppnådde vi en betydelig forbedring i marginene innen videreforedling i tredje kvartal. Generelt så vi en reduksjon i salget av noen av våre produkter, selv om salget av kaldrøkt laks var stabilt og spesialiteter viste en sterk økning. Vi forventer å se økt etterspørsel ettersom pris til sluttkunde faller og vi tror økte foredlingsmarginer vil gi oss et bedre utgangspunkt for 2012 enn tilfellet var året før, sier konsernsjef Jerzy Malek.

Ved utgangen av tredje kvartal 2011 hadde Morpol en netto rentebærende gjeld på 153,4 millioner euro noe som er en reduksjon på 32,9 millioner euro fra andre kvartal 2011.

For ytterligere informasjon, kontakt:
Jerzy Malek, Chief Executive Officer, j.malek@morpol.com telefon +48 602 374 250
John-Paul McGinley, Chief Operating Officer, j.p.mcginley@morpol.com telefon +48 507 030 019

Om Morpol
Morpol-gruppen driver med foredling, salg og distribusjon av ferdige lakseprodukter. Hovedprodukter er kaldrøkt og varmrøkt laks, gravlaks, ferske laksefileter, frosne lakseporsjoner, organisk laks, vill-laks og laksespesialiteter. Morpol har siden 2010 lakseoppdrettsvirksomhet i Skottland og siden 2011 i Norge. Morpols totale driftsinntekter i 2010 var på om lag 430 millioner euro.

Selskapet ble grunnlagt i 1996 i Ustka på den baltiske kysten av Polen og har mer enn 3 000 ansatte i åtte land. Morpol er verdensledende innen røkelaks. Selskapet har oppnådd sin ledende posisjon gjennom effektive produksjonsprosesser, et sterkt fokus på produktkvalitet og høy grad av service overfor kunder innen både retail og storhusholdning. Morpol betjener kunder i hele Europa, i Japan og i USA. Selskapet er notert på Oslo Børs.
www.morpol.com

Denne opplysningen er informasjonspliktig etter verdipapirhandelloven §5-12

Attached Files:

Morpol ASA reports strong improvement in processing margins for third quarter ( English )

Q3 2011 Report

Q3 2011 Presentation

10/11/2011

Oslo, 10 November 2011: Morpol ASA (OSE: MORPOL)

Morpol ASA reported a positive EBIT pre fair value for the third quarter 2011 of EUR 14.8 million (EUR 0.0 million). The main reason for the increased EBIT was due to the processing results increasing strongly from an EBIT of EUR 1.6 million in the third quarter 2010 to EUR 12.4 million in 2011. The increased profitability is mainly due to a large reduction in cost of sales as a result of reduced salmon raw material purchase prices which dropped significantly throughout the quarter. The farming segment profitability was impacted by the dropping salmon prices, though the UK operation returned a solid performance in the quarter with the Norwegian operation returning a loss due to limited harvest volumes.

High operating revenues
Morpol's operating revenues in the third quarter 2011 were significantly above prior year at EUR 103.4 million (EUR 93.3 million). The revenue increase was due to higher farming revenues in 2011 of EUR 29.0 million (EUR 7.5 million) due to the acquisition of major farming assets in late 2010 and early 2011. Processing revenues decreased in the third quarter due to reduced sales volumes.

Processing
Revenues in processing were EUR 83.9 million compared to EUR 86.5 million prior year. Higher unit sales prices to customers were offset by a reduction in sales volume year on year. EBIT for processing in the third quarter 2011 was EUR 12.4 million (EUR 1.6 million). Raw material purchase unit prices were lower than prior year and increased sales prices to Morpol customers year on year resulted in higher profitability.

Farming
Revenues in farming in the third quarter 2011 were EUR 29.0 million (EUR 7.5 million). The increase is because Morpol acquired the majority of its farming operations at the end of the third quarter 2010 and in the first quarter 2011.

Of the total revenues, EUR 9.4 million were transferred internally to the Morpol processing division for further processing and sales. Farming EBIT pre fair value in the third quarter was EUR 3.7 million (EUR 1.4 million). The farming operations in the UK - Meridian Salmon Group - generated an EBIT pre fair value of EUR 4.3 million. Sales volumes in the quarter were 6 128 metric tonnes gutted fish equivalent returning an EBIT/kg of EUR 0.7/kg. The Norwegian farming operation - Jøkelfjord Laks - returned an EBIT loss of EUR 0.7 million, the loss being mainly due to limited sales volumes of only 147 metric tonnes not being sufficient to cover overhead costs.

Sales volumes reduced in the quarter
Volumes reduced by over 14 percent in the third quarter compared to the same period prior year. However, sales of the principal category, cold smoked salmon, were stable year on year with only a 1 percent drop in volume. Sales of specialty products had strong growth with a 45 percent increase in volumes.

"The third quarter results brought a big improvement in processing margins achieved, despite a challenging market. In general, we saw a reduction in the sales of some of our products during the third quarter, though sales of the main product category of cold smoked salmon was stable and speciality products showed a strong increase. We expect to see demand picking up as retail prices fall and believe increased processing margins will give us a better platform to enter 2012 than was the case prior year, comments Jerzy Malek, CEO.

Morpol had net interest bearing debt (NIBD) of EUR 153.4 million at the end of the third quarter, a decrease of EUR 32.9 million from the second quarter 2011.

For further information, please contact:
Jerzy Malek, Chief Executive Officer, j.malek@morpol.com phone +48 602 374 250
John-Paul McGinley, Chief Operating Officer, j.p.mcginley@morpol.com phone +48 507 030 019

Founded in 1996 in Ustka on the Baltic coast of Poland, the company employs over 3 000 people in eight countries. Morpol Group is the world leader in smoked salmon. The company has achieved its world leading position through the efficiency of processing activities, a constant focus on product quality and service provided to retail and food service customers. Morpol serves customers across Europe, Japan and the United States.
www.morpol.com

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

Attached Files:

Q3 2011 Report

Q3 2011 Presentation

MARIUSZ REDASZKA has been appointed as new chief financial officer of Morpol ( English )

09/11/2011

Oslo, 9 November 2011: Morpol ASA (OSE: MORPOL)

Morpol announces today that Mariusz Redaszka has been appointed as the new chief financial officer (CFO) of the company. Redaszka will work together with Steven Rafferty until Rafferty leaves his position as the CFO.

Redaszka has 15 years of experience in financial management and comes from the position of CFO in Wyborowa S.A., which he has held since 2005. During his time as CFO of Wyborowa S.A. (Pernod Ricard Group), Redaszka was responsible for key projects, including, among others, operational and financial optimisation, commercial performance and profitability improvement, integration, ERP development. He helped double the Group's turnover during his six years there, and was integral in developing and executing the strategy that grew the brands such as Wyborowa and Ballantine's to market leader positions in Poland.

In the period 2000-2004 Redaszka was the finance director of Lafarge Gips Polska and during this period oversaw the integration of newly acquired business into the Lafarge Group, JV's operational and legal aspects, external development projects, and organic growth of the business. Prior to this, he worked for Eastern Generation Poland in a variety of positions including finance manager and business development manager, taking care of system power plants' M&As, greenfield, and energy trading projects. He also has 4-year experience with Creditanstalt Investment Bank.

Redaszka holds a business degree from the Warsaw School of Economics and a Master of Business Administration from the University of Calgary.

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

For further information, please contact:

Jerzy Malek, Chief Executive Officer, phone +48 602 374 250

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

Attached Files:

Morpol ASA: Change in the financial calendar - Q3 2011 reporting date ( English )

25/10/2011

13/10/2011

Protocol from extraordinary general meeting 13 October for Morpol ASA ( English )

12/10/2011

Morpol extraordinary general meeting 13 October; Recommendation from the Nomination committee ( English )

26/09/2011

Morpol ASA: Board composition ( English )

22/09/2011

Notice of Extraordinary General Meeting for Morpol ASA ( English )

16/09/2011

MORPOL: Convening an extraordinary general meeting ( English )

Oslo, 16 September 2011: Morpol ASA (OSE: MORPOL)

Friendmall Limited has asked the board to consider to convene an extraordinary general meeting with election of board members on the agenda. Three of the board members of Morpol ASA disagree with the CEO, who is also the largest shareholder of Friendmall Limited, with respect to organisation and governance model of the company. The matter was discussed at the board meeting 15 September 2011 and it was decided to convene an extraordinary general meeting. Three board members will accept to be replaced on the extraordinary general meeting. The general meeting will be held on 13 October 2011 and notice for the general meeting will be sent to the shareholders of Morpol ASA with known addresses as soon as possible.

For further information, please contact:
Thorhild Widvey, Chairperson + 47 48 28 36 68

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

Attached Files:

Morpol rapporterer bedre marginer innen videreforedling og gode resultater innen oppdrett ( Norwegian )

24/08/2011

Oslo, 24.august 2011

Morpol ASA rapporterte et positiv driftsresultat (EBIT) før verdijustering av biomasse i andre kvartal 2011 på 11,7 millioner euro. Driftsresultatet for tilsvarende kvartal i fjor var negativt på 2,1 millioner euro. Råvareprisen på laks falt betydelig gjennom kvartalet. Imidlertid var gjennomsnittsprisen i kvartalet høy sammenlignet med historiske nivå.

Videreforedling
Driftsinntektene innen videreforedling var 89,4 millioner euro sammenlignet med 83,4 millioner euro året før. Driftsresultatet innen videreforedling i andre kvartal 2011 var 2,6 millioner euro mot et tap på 2,1 millioner euro i tilsvarende kvartal 2010. Innkjøpsprisen på råvarer var lavere enn fjoråret. Dette, i tillegg til prisøkning til kunder resulterte i forbedret lønnsomhet sammenlignet med fjoråret. Høyere salgspriser førte til redusert etterspørsel og volumet ble redusert med 11 prosent.

Oppdrett
Driftsinntektene i oppdrettsdelen i andre kvartal var 34,6 millioner euro. Av dette var 10,2 millioner euro internsalg til Morpol sin videreforedlingsvirksomhet. Morpol hadde ikke oppdrettsvirksomhet i tilsvarende kvartal forrige år. EBIT før verdijustering av biomasse i andre kvartal 2011 var 10,0 millioner euro hvorav 7,7 millioner var generert fra Meridian Salmon i Storbritannia og 2,3 millioner fra Jøkelfjord Laks AS. Meridian Salmon oppnådde en EBIT per kilo på 1,6 euro av et salgsvolum på 4 917 tonn sløyd fisk og Jøkelfjord Laks oppnådde en EBIT per kilo på 1,7 euro av et salgsvolum på 1 348 tonn.

Høye driftsinntekter
Driftsinntektene i andre kvartal 2011 var 113,7 millioner euro, noe som er betydelig høyere enn i samme periode i fjor (83,4 millioner euro). Inntektsøkningen skyldes i hovedsak inntekter fra oppdrett i 2011 på 34,6 euro. Morpol hadde ingen oppdrettsvirksomhet i tilsvarende periode i fjor. Til tross for at volumet for påskeperioden er inkludert i kvartalet, var det en reduksjon i videreforedlingsvolumet sammenlignet med fjoråret, men effekten av dette ble utlignet av økte salgspriser.

Redusert salgsvolum i kvartalet
Salgsvolumet i kvartalet, ekskludert kontraktproduksjon, gikk ned med 11 prosent sammenlignet med fjoråret, men prisøkninger til kunder i løpet av de siste 12 måneder har økt gjennomsnittlig salgspris. Salget av kaldrøkt laks var uendret sammenlignet med fjoråret i andre kvartal og spesialiteter økte med 58 prosent som følge av høyt salg i påskeperioden. Salg av andre produkter og lavpris bi-produkter gikk ned med henholdsvis 13 og 25 prosent.

- Selv om råvareprisen på laks har gått ned var gjennomsnittsprisen i kvartalet fortsatt høy, og vi hadde et sterkt resultat fra oppdrettsdelen, og forventer at andre kvartal vil være et vendepunkt for inntjeningen innen videreforedling. Med lavere laksepriser forventer vi økte marginer innen videreforedling for resten av året, sier konsernsjef Jerzy Malek.

- Til tross for en reduksjon i etterspørsel og lavere volum, forventer vi at salget vil ta seg opp så snart vi ser en reduksjon i utsalgspriser i dagligvarehandelen, kommenterer Jerzy Malek.

Salg av virksomhet
I juli 2011 solgte Morpol seabass og seabream virksomheten i Spania (Culmarex S.A) til Cooke Aquaculture Inc., et globalt akvakulturselskap med hovedkontor i Canada for 48,7 millioner euro. Transaksjonen vil redusere Morpol sin gjeld med omlag 40 millioner euro.

Ved utgangen av andre kvartal 2011 hadde Morpol en netto rentebærende gjeld på 186,3 millioner euro noe som er en reduksjon på 12,8 millioner euro fra første kvartal 2011.

For ytterligere informasjon, kontakt:
Steven Rafferty, Chief Financial Officer, s.rafferty@morpol.com telefon +47 97 66 41 04
John-Paul McGinley, Chief Operating Officer, j.p.mcginley@morpol.com telefon +48 507 030 019

Denne opplysningen er informasjonspliktig etter verdipapirhandelloven §5-12

Attached Files:

Morpol ASA - improving margins in processing and solid results in farming leads to increase in profitability ( English )

Q2 2011 Report

Q2 2011 Presentation

24/08/2011

Oslo, 24 August 2011: Morpol ASA (OSE: MORPOL)

Morpol ASA reported a positive EBIT pre fair value for the second quarter 2011 of EUR 11.7 million. The EBIT in the corresponding quarter last year was negative EUR 2.1 million. Salmon raw material prices dropped significantly throughout the quarter. However, the overall average price for the quarter remained at high levels compared to historical levels.

Processing
Revenues in processing were EUR 89.4 million compared to EUR 83.4 million prior year. EBIT for processing in the second quarter 2011 was EUR 2.6 million, compared to a loss of EUR 2.1 million in corresponding quarter 2010. Raw material purchase unit prices to Morpol were lower than prior year and increased sales prices to Morpol customers year on year resulted in higher profitability. However, higher sales prices led to reduced demand and volumes were down 11 percent from prior year levels.

Farming
Revenues in farming in the second quarter were EUR 34.6 million. EUR 10.2 million was internal sales to the Morpol processing division for further processing and sales. Morpol did not own farming assets in the corresponding quarter in 2010. EBIT for farming in the second quarter 2011 was EUR 10.0 million, whereof EUR 7.7 million was generated by the UK operations Meridian Salmon and EUR 2.3 million generated by Jøkelfjord Laks AS. EBIT/kg was EUR 1.6 for Meridian Salmon with sales volumes of 4 917 tonnes gutted fish equivalent and EUR 1.7 for Jøkelfjord Laks with sales of 1 348 tonnes.

High operating revenues
Operating revenues in the second quarter 2011 were significantly above prior year at EUR 113.7 million (EUR 83.4 million). The revenue increase was mainly due to farming revenues in 2011 of EUR 34.6. The group had no farming operations in the same period prior year. Despite volumes for the Easter season included in the quarter, processing volumes decreased year on year, but the volume impact was offset by increased unit sales prices.

Sales volumes decrease in the quarter
Total sales volumes excluding contract processing in the quarter were down by 11 percent compared to last year, but price increases to customers have been executed various times in the last 12 months, consequently raising the average unit selling price. Cold smoked salmon sales were flat year on year in the second quarter and specialities increased by 58 percent, due to high sales in the Easter period. However, volumes of other products and lower price by-products reduced sharply by 13 percent and 25 percent respectively.

"Even though salmon raw material prices are dropping - they still remained high on average in the quarter - we had a strong result from the farming operations and expect that the second quarter will be a turning point in the results of processing. The lower salmon prices are expected to increase processing margins for the rest of the year", says Jerzy Malek, CEO. "Despite a reduction in demand and lower volumes we expect sales to pick up as retail prices decrease", comments Malek.

Divestment
In July 2011 Morpol divested its sea bass and sea bream operations in Spain (Culmarex S.A) to Cooke Aquaculture Inc., a large global aquaculture company headquartered in Canada for a total enterprise value of EUR 48.7 million. The transaction will reduce Morpol's net debt by approximately EUR 40 million.

Morpol had a net interesting bearing debt of EUR 186.3 at the end of the second quarter, a decrease of EUR 12.8 million from the first quarter 2011.

For further information, please contact:
Steven Rafferty, Chief Financial Officer, s.rafferty@morpol.com phone +47 97 66 41 04
John-Paul McGinley, Chief Operating Officer, j.p.mcginley@morpol.com phone +48 507 030 019

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

Attached Files:

Protocol from extraordinary general meeting 22 August for Morpol ASA ( English )

Q2 2011 Report

Q2 2011 Presentation

22/08/2011

12/08/2011

Presentation of Q2 2011 results 24 August at 08:00 ( English )

02/08/2011

Closing of the Culmarex S.A. transaction has taken place ( English )

01/08/2011

Notice of Extraordinary General Meeting for Morpol ASA ( English )

22/07/2011

Morpol divests Culmarex S.A. ( English )

Oslo, 22 July 2011: Morpol ASA (OSE: MORPOL)

Reference is made to the press release dated 15 April 2011 regarding the initiation of the process to divest Morpol's fully owned subsidiary engaged in seabass and seabream operations in Spain, Culmarex S.A. ("Culmarex").

Morpol has entered an agreement to sell Culmarex to Cooke Aquaculture Inc., a major global aquaculture company headquartered in New Brunswick, Canada with operations in Canada, USA and Chile, for a total enterprise value of EUR 48.7 million. The transaction will reduce Morpol's net debt by approximately EUR 40 million. Culmarex is currently classified as assets held for sale in Morpol's financial statements and will be deconsolidated from 1 July 2011.

"We are very happy to place Culmarex in the hands of an owner that will focus on continued growth of the business going forward. We see Cooke Aquaculture as an excellent fit with Culmarex. At the same time the divesture will enable Morpol to emphasise its focus on its core strategy and operations," says Morpol CEO Jerzy Malek.

"We are always looking for strategic development and investment opportunities in the seafood sector," comments Glenn Cooke, CEO of Cooke Aquaculture. "This purchase gives us the unique opportunity to enter into the farming of seabass and seabream in Spain by working with one of the best performing players in this industry. We see tremendous synergies between the two companies and look forward to working with this highly professional team and diversifying our business as a fully integrated aquaculture company".

"We are very pleased to have a new owner with a long history in the aquaculture industry. We have a highly skilled and motivated staff and are proud to become part of a group that wants to further develop the seabass and seabream business", says Geoff Smart, Managing Director of Culmarex.

The closing of the transaction is due to take place at the end of July 2011.

ABG Sundal Collier Norge ASA has been engaged as financial advisor and Advokatfirmaet Selmer DA has been engaged as legal advisor in relation to the transaction.

For further information, please contact:
Steven Rafferty, Chief Financial Officer Morpol ASA, phone +47 97 66 41 04

About Morpol
The Morpol Group is engaged in salmon processing as well as sale and distribution of finished salmon products. The Morpol Group's main products are: cold and hot smoked salmon, gravadlax, fresh salmon fillets, frozen salmon portions, organic salmon, wild salmon and salmon specialties. The Morpol Group also has salmon farming activities in Scotland since 2010 and Norway since 2011. The Morpol Group had revenue of approximately EUR 430 million in 2010.
Founded in 1996 in Ustka on the Baltic coast of Poland, the company employs over 3 000 people in eight countries. Morpol Group is the world leader in smoked salmon. The company has achieved its world leading position through the efficiency of processing activities, a constant focus on product quality and service provided to retail and food service customers. Morpol serves customers across Europe, Japan and the United States.
www.morpol.com

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

Attached Files:

Morpol announces CFO resignation ( English )

20/06/2011

14/06/2011

Board composition ( English )

09/06/2011

Morpol ASA - Presentation held at the RS Platou Markets Seafood conference 9 June 2011 ( English )

25/05/2011

New chairman of the board of Morpol ASA ( English )

19/05/2011

Protocol from Annual General Meeting 19 May 2011 ( English )

19/05/2011

Chairman of the board of Morpol ASA has resigned ( English )

19/05/2011

Morpol rapporterer økt driftsresultat i første kvartal til tross for utfordringer med høye råvarepriser for videreforedlingsdelen ( Norwegian )

Oslo, 19. mai 2011

Morpol ASA rapporterte en positiv EBIT før verdijustering av biomasse i første kvartal 2011 på 6,2 millioner euro. Dette inkluderer transaksjonskostnader i forbindelse med oppkjøp på 1,0 millioner euro kostnadsført i kvartalet, noe som betyr at underliggende driftsresultat var 7,3 millioner euro. Driftsresultatet for tilsvarende kvartal i fjor var 5,2 millioner euro.

Videreforedling
Driftsinntektene i videreforedlingsvirksomheten var 103,5 millioner euro sammenlignet med 90,2 millioner euro året før. Driftsresultatet i første kvartal 2011 var 0,3 millioner euro mot 5,2 millioner euro i tilsvarende kvartal 2010. Innkjøpsprisen på råvarer var over 1 euro/kg høyere i 2011 enn året før og ble ikke fullt ut overført til kunder i from av økte salgspriser. Dette var den viktigste årsaken til redusert lønnsomhet i videreforedlingsvirksomheten.

Oppdrett
Driftsinntektene i oppdrettsdelen i første kvartal var 31,6 millioner euro. Av dette utgjorde 8,0 millioner euro internsalg til Morpol's videreforedlingsvirksomhet for prosessering og salg. Morpol hadde ikke eiendeler i oppdrett i tilsvarende kvartal forrige år. EBIT før verdijustering av biomasse i første kvartal var 8,1 millioner euro.

Råvareprisene på laks holdt seg på et høyt nivå i kvartalet, noe som påvirket marginene i videreforedlings-virksomheten negativt. Innkjøpsprisene av laks fra Norge økte fra fjerde kvartal til første kvartal med rundt 0,25 euro/kg. På den annen side medførte høye råvarepriser gode driftsmarginer for oppdrettsdelen i første kvartal.

Høye driftsinntekter
Driftsinntektene i først kvartal 2011 var høyere enn i samme periode i fjor med 127,1 millioner euro (90,2 millioner euro). Inntektsøkningen skyldes i hovedsak inntekter fra oppdrett som ikke var inkludert tidligere år, men også økte salgspriser i videreforedlingsvirksomheten.

Det var en reduksjon i salgsvolumet i første kvartal 2011 på grunn av tidspunkt for påsken, som er en periode med sterk etterspørsel etter røkt laks. I 2011 falt påsken tre uker senere enn året før, og salgsvolumene vil komme i andre kvartal istedenfor i første kvartal.

Som en følge av sen påske og lavere etterspørsel, ble salget av kaldrøkt laks og spesialiteter redusert med henholdsvis 5 prosent og 11 prosent i første kvartal. Andre produkter hadde ingen vekst i første kvartal sammenlignet med første kvartal 2010.

"Til tross for kortsiktig press på marginene i videreforedlingsvirksomheten, mener vi at vi har bygget en solid plattform for å realisere høyere marginer når det er en bedre balanse mellom tilbud og etterspørsel på råstoffsiden. Vi har fortsatt å ta markedsandeler i viktige markeder som Frankrike og Storbritannia, og vi har en solid base for å vokse ytterligere, " sier konsernsjef Jerzy Malek.

Oppkjøp
Jøkelfjord Laks AS, et lakseoppdrett selskap lokalisert i Troms, ble kjøpt i kvartalet og er inkludert i Morpol-gruppens resultat for første kvartal.

Gjennom datterselskapet Lakeland Smolt, har Morpol investert i tomt og en bygningsmasse i Rosyth, utenfor Edinburgh. Oppkjøpet kostet om lag 4,2 millioner euro. Anlegget er kjøpt med tanke på å etablere et storskala videreforedlingsanlegg som vil bli brukt til ytterligere å styrke Morpol sin markedsposisjon i Storbritannia og andre markeder.

Ved utgangen av første kvartal 2011 hadde Morpol en netto rentebærende gjeld på 199,1 millioner euro sammenlignet med 72,2 millioner euro i tilsvarende periode året før. Økningen skyldes i hovedsak oppkjøp av oppdrettsvirksomheter i løpet av de siste tre kvartalene.

Selskapet ble grunnlagt i 1996 i Utska på den baltiske kysten av Polen og har mer enn 3 000 ansatte i åtte land. Morpol er verdensledende innen røkelaks. Selskapet har oppnådd sin ledende posisjon gjennom effektive produksjonsprosesser, et sterkt fokus på produktkvalitet og høy grad av service overfor kunder innen både retail og storhusholdning. Morpol betjener kunder i hele Europa, i Japan og i USA. Selskapet er notert på Oslo Børs.
www.morpol.com

Denne opplysningen er informasjonspliktig etter verdipapirhandelloven §5-12

Attached Files:

Q1 2011 Report

Morpol reports increased EBIT in first quarter despite challenges from high salmon purchase prices for processing division ( English )

Q1 2011 Presentation

19/05/2011

Oslo, 19 May 2011: Morpol ASA (OSE: MORPOL)

Morpol ASA reported a positive EBIT pre fair value for the first quarter 2011 of EUR 6.2 million. This includes one off exceptional costs related to acquisitions, totaling EUR 1.0 million, meaning the operational EBIT was EUR 7.3 million. The EBIT in the corresponding quarter last year was EUR 5.2 million.

Processing
Revenues in processing were EUR 103.5 million compared to EUR 90.2 million prior year. EBIT for processing in the first quarter 2011 was EUR 0.3 million, compared to EUR 5.2 million in corresponding quarter 2010. The impact of raw material purchase prices which were over EUR 1/kg higher in 2011 than prior year was only partially offset by increased sales prices to Morpol customers. This was the main factor in the reduced profitability in the processing division.

Farming
Revenues in farming in the first quarter were EUR 31.6 million. Of these revenues, EUR 8.0 million were sold internally to the Morpol processing division for further processing and sales. Morpol did not own any farming assets in the corresponding quarter prior year. EBIT pre fair value for farming in the first quarter was EUR 8.1 million.

Salmon raw material prices remained at a high level in the quarter, impacting processing margins negatively. Purchase prices of salmon from Norway increased from the fourth quarter to the first quarter by approximately EUR 0.25/kg purchased. However, the farming segment benefited from the higher commodity prices of gutted salmon and returned high EBIT margins in the first quarter.

High operating revenues
Operating revenues in the first quarter 2011 were significantly above prior year at EUR 127.1 million (EUR 90.2 million). The revenue increase was mainly due to farming revenues which were not included prior year but also to increased unit prices in the processing division.

In the first quarter 2011, sales volumes decreased due to the timing of Easter, which is a period of strong demand for smoked salmon. In 2011 Easter occurred three weeks later than prior year, and the peak period takes place in second quarter rather than the first quarter.

Due to a combination of the Easter impact and a slowing in demand, cold smoked salmon sales and speciality salmon sales reduced by 5 percent and 11 percent respectively in the first quarter. Other products were flat in terms of growth in comparison with first quarter 2010.

"Despite the short term pressure on processing margins, we believe we have built a strong platform to return to higher operational margins when there is a better balance between supply and demand on the raw material side. We have continued to take market share in key areas such as France and UK, and we have a strong base to further expand" says CEO Jerzy Malek.

Acquisitions
Jøkelfjord Laks AS, a Norwegian salmon farming company based in Troms, was acquired in the quarter and the company's results are included in the consolidated results for the first quarter.

Through its subsidiary Lakeland Smolt, Morpol has invested in land and a building in Rosyth, near Edinburgh. The acquisition cost was approximately EUR 4.2 million. The facility is purchased with the intention to establish a large scale value added processing plant which will be used to further increase the market strength of Morpol in the UK and other markets.

At the end of the first quarter 2011 Morpol had a net interesting bearing debt (NIBD) of EUR 199.1 million compared to EUR 72.2 million in the corresponding period prior year. The increase is mainly due to acquisitions of farming operations during the last three quarters.

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

Attached Files:

Q1 2011 Report

Presentation of Q1 2011 results 19 May 2011 at 08:00 ( English )

Q1 2011 Presentation

12/05/2011

27/04/2011

Notice of Annual General Meeting for Morpol ASA ( English )

27/04/2011

Annual Report 2010 for Morpol ASA ( English )

15/04/2011

Morpol initiates process to divest its Seabass and Seabream operations in Spain ( English )

Oslo, 15 April 2011: Morpol ASA (OSE: MORPOL)

Morpol has previously announced that its seabass and seabream (Culmarex) operations in Spain are held for sale pending a strategic review of the operations by the management. These activities were purchased as part of the Marine Farms acquisition in the last quarter of 2010.

Culmarex has an excellent position within the seabass and bream industry and has been one of the top performing companies over many years. Currently the markets and price levels for seabream are improving strongly. However, following the strategic review, the assets are confirmed as non-core to Morpol main activities and the Board has authorised a divesture process to start with immediate effect.

ABG Sundal Collier is appointed as financial advisor in the process.

For further information, please contact:
Steven Rafferty, Chief Financial Officer, phone +47 97 66 41 04

About Morpol

The Morpol Group is engaged in salmon processing as well as sale and distribution of finished salmon products. The Morpol Group's main products are: cold and hot smoked salmon, gravadlax, fresh salmon fillets, frozen salmon portions, organic salmon, wild salmon and salmon specialties. The Morpol Group also has salmon farming activities in Scotland since 2010 and Norway since 2011. The Morpol Group had revenue of approximately EUR 430 million in 2010.

Founded in 1996 in Ustka on the Baltic coast of Poland, the company employs over 3,000 people in eight countries. Morpol Group is the world leader in smoked salmon. The company has achieved its world leading position through the efficiency of processing activities, a constant focus on product quality and service provided to retail and food service customers. Morpol serves customers across Europe, Japan and the United States.
www.morpol.com

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

Attached Files:

Morpol ASA -Sterk salgsvekst i et krevende marked ( Norwegian )

25/02/2011

Oslo, 25.februar 2011

Morpol ASA rapporterteet positivt driftsresultat (EBIT) ifjerde kvartal 2010 på 12,3 millioner euro. Dette inkluderer transaksjonskostnader i forbindelse med oppkjøppå 0,65 millioner euro kostnadsført i kvartalet, noe som betyr atunderliggende driftsresultat var 12,9 millioner euro i kvartalet. Driftsresultatet for tilsvarende kvartal i fjor var 22,1 millioner euro.

Råvareprisen på laks forble på et høyt nivå i kvartalet, noe som påvirket marginene i videreforedlingsvirksomheten. Oppdrettssegmentet dro nytte av de høye prisene. Morpol-gruppen oppnådde et resultat etter skattfor videreført virksomhet på 11,9 millioner euro i fjerde kvartal, mot 18,9 millioner euro i samme periode i 2009.

Driftsinntektene høyere enn fjoråret
Driftsinntektene i fjerde kvartal 2010 var høyere enn i samme periode i fjor med 163,1 millioner euro, mot 138,9 millioner euro i fjerde kvartal 2009. Inntektsøkningen skyldes i hovedsak inntekter fra oppdrett som ikke var inkludert tidligere år, samt volumøkning i videreforedlingsvirksomheten.

Det totale salgsvolumet steg med 19 prosent sammenlignet med fjerde kvartal 2009. Volumutviklingen har vært god sammenlignet med 2009 innen alle kategorier med unntak av spesialiteter. Salget av kaldrøkt laksble tatt opp igjen i fjerde kvartal. Etterspørselen etter laks er fremdeles høy selv om den har avtatt noe i andre halvdel av 2010.

- Gitt de ekstreme forhold vi hadde i kvartalet, med svært dårlige værforhold i desember and rekordhøye laksepriser, leverte Morpol et godt resultat. Vi økte prisene våre på lakseprodukter i perioden, og vi opplever fortsatt sterk salgsvekst, sier Morpols CEO, Jerzy Malek.

Oppkjøp
Selskap som ble kjøpt opp i tredje kvartal 2010 er inkludert i Morpol-gruppens resultat for fjerde kvartal. Seabass/bream i Spania (Culmarex) og cobia virksomheten i Vietnam og Belize, inkludert i oppkjøpet av Marine Farms, er klassifisert som holdt for salg og presentert som avviklet virksomhet.

- Vårt hovedfokus vil fortsatt være stabil produksjon av høykvalitetsprodukter som tilfredsstiller kundenes behov. Vi vil utnytte de mest attraktive markedene og vi tror at vår inntreden i lakseoppdrett vil gi en plattform for videre ekspansjon. Med høyere konsumpriser i 2010 og økt global forsyning i andre halvår,gjenstår det å se hva virkningen vil være på råvareprisene, sier Malek.

Morpol hadde en netto rentebærende gjeld på 148 millioner euro ved utgangen av fjerde kvartal, ned fra 156 millioner euro på samme tidspunkt i fjor. Årsaken tilreduksjonen erhovedsakelig høyere kontant beholdning etter emisjonen på om lag 38 millioner euro i desember.

For ytterligere informasjon, kontakt:
Steven Rafferty, Chief Financial Officer, telefon +47 97 66 41 04
John-Paul McGinley, Chief Operating Officer, telefon +48 507 030 019

Selskapet ble grunnlagt i 1996 i Utska på den baltiske kysten av Polen og har mer enn 3 000 ansatte i åtte land. Morpol er verdensledende innen røkelaks. Selskapet har oppnådd sin ledende posisjon gjennom effektive produksjonsprosesser, et sterkt fokus på produktkvalitet og høy grad av serviceoverfor kunder innen både retail og storhusholdning. Morpol betjener kunder i hele Europa, i Japan og i USA. Selskapet er notert på Oslo Børs.
www.morpol.com

Denne opplysningen er informasjonspliktig etter verdipapirhandelloven §5-12

Attached Files:

Morpol ASA - Strong sales growth in a challenging environment ( English )

Presentation Q4 2010

Report Q4 2010

25/02/2011

Oslo, 25February2011: Morpol ASA (OSE: MORPOL)

MorpolASA reported a positive EBIT result for the fourth quarter 2010 of EUR 12.3 million. This includes one off exceptional costs related to acquisitions, totaling EUR 0.65 million, which means that the operational EBIT was EUR 12.9 million in the quarter. The EBIT in the corresponding quarter last year was EUR 22.1 million.

Salmon commodity prices remained at a high level in the quarter, impacting processing margins negatively. The farming segment benefit from the high prices. The Morpol Group had a net profit of continuing operations of EUR 11.9 in the fourth quarter (EUR 18.9 million).

Operating revenues higher than prior year
Operating revenues in quarter four 2010 were above prior year at EUR 163.1 million (EUR 138.9 million). The revenue increase was mainly due to farming revenues which were not included prior year and increased processing volumes.

Total sales volume grew by 19percentcompared to fourth quarter prior year. There was a good volume development compared to 2009 in all categories with the exception of Specialities. Cold smoked salmon sales growth resumed in the fourth quarter. Demand for salmon is still high though it has slowed in the second half of 2010.

"Given the extreme conditions in the quarter, with severe weather in December and record high salmon prices, Morpol delivered a good result. We increased prices for our products in the period, and we continued to experience strong sales growth", says CEO Jerzy Malek.

Acquisitions
Companies acquired during the third quarter 2010 are included in the Group's consolidated results for the fourth quarter. The seabass/bream in Spain(Culmarex) and cobia operations in Vietnam and Belize acquired from Marine Farms as classified as held for sale and are presented as discontinued operations.

"Our focus remains on producing stable, good quality products designed to satisfy customer needs. We will exploit the most attractive markets and we believe the entry into salmon farming will provide a platform for further expansion. With higher consumer prices in 2011 and increased global supply in the second half, it remains to be seen what the impact will be on raw material prices", comments Jerzy Malek.

Morpol had a net interesting bearing debt (NIBD) of EUR 148 million at the end of quarter four, down from 156 million at the end of third quarter. The decrease is mainly due to higher cash balances due to the equity issue of approximately EUR 38 million made in December.

For further information, please contact:
Steven Rafferty, Chief Financial Officer, phone +47 97 66 41 04
John-Paul McGinley, Chief Operating Officer, phone +48 507 030 019

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

Attached Files:

Presentation of Q4 2010 results 25 February 2011 at 08:00 ( English )

Report Q4 2010

Presentation Q4 2010

16/02/2011

08/02/2011

Morpol presents new name of UK salmon farming activities, organisation structure of farming and completion of transaction of Jøkelfjord Laks AS ( English )

Oslo, 8 February 2011: Morpol ASA (OSE: MORPOL)

Morpol hereby announces the new name of Morpol's UK salmon farming operations as Meridian Salmon Group. This is the trading name that all the UK salmon farming operations will operate as, effective as of today. During the coming months, a process will be initiated to legally merge operating companies of the former Lakeland and Northern Isles Salmon groups. As previously announced, the Managing Director of Meridian Salmon Group is Willie Liston.

Morpol is pleased to announce that Pål Angell-Hansen is appointed as Head of Farming for Morpol's global farming activities. In this position Mr Angell-Hansen will be responsible for the salmon farming in UK and Norway, the seabass/bream operations in Spain and cobia in Vietnam and Belize. He will be part of Morpol's Management Team and will report to the CEO Jerzy Malek. Mr Angell-Hansen was previously CFO of Marine Farms ASA and has extensive experience in the aquaculture industry. He will be based in Bergen, Norway and head up a small team responsible for farming activities that will also offer additional resource on corporate accounting and other projects.

We are also pleased to announce that Bjørn Myrseth, CEO of Marine Farms has agreed to continue with Morpol until the end of 2011 as advisor to the CEO and management on key strategic projects within the global Morpol group.

"We are excited to have Bjørn Myrseth and Pål Angell-Hansen on board and are confident that they will be a great resource to Morpol and to the farming operations in particular", says Jerzy Malek. "Bjørn Myrseth has unique knowledge and expertise gained from close to 40 years in the farming industry. Pål also has long experience in the sector and he has background as former analyst, investor and advisor in the seafood industry. We believe that Morpol, with these appointments, takes the necessary step to strengthen management resources during this intensive growth period.

With reference to the acquisition of Jøkelfjord Laks AS announced 13 January 2011, we hereby confirm that the closing of the transaction took place 7 February 2011. The financial results of Jøkelfjord Laks AS will be consolidated into Morpol ASA from 1 January 2011.

For further information, please contact:
Steven Rafferty, Chief Financial Officer, phone +47 97 66 41 04
John-Paul McGinley, Chief Operating Officer, phone +48 507 030 019

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

Attached Files:

Morpol ASA har fullført plassering av et usikret obligasjonslån ( Norwegian )

18/01/2011

18/01/2011

Morpol ASA has completed the issuance of an unsecured bond issue ( English )

18/01/2011

Morpol ASA vurderer å utstede et usikret obligasjonslån ( Norwegian )

18/01/2011

Morpol ASA contemplates the issuance of an unsecured bond issue ( English )

17/01/2011

Utvidet børsmelding vedrørende Morpols avtale om å overta alle aksjene i Jøkelfjord Laks AS ( Norwegian )

Oslo, 17.januar 2011: Morpol ASA (OSE: MORPOL)
Det vises til pressemelding datert 13. januar 2011 relatert til avtale om å overta 100% av aksjene i Jøkelfjord Laks AS ("Jøkelfjord Laks" eller "Selskapet").

Transaksjonen
Morpol ASA ("Morpol") har inngått avtale om å overta 100% av aksjene i Jøkelfjord Laks AS ("Transaksjonen"). Avtalen priser selskapet til 490 millioner kroner på gjelds- og kontantfri basis. Dette tilsvarer en egenkapitalverdi på 510 millioner kroner. Den endelige kjøpesummen vil være basert på balansen ved overtagelse og justert for endringer i netto kontantposisjon og netto arbeidskapital.

Gjennomføring av transaksjonen er betinget av tilfredsstillende due dilligence og eventuell nødvendig godkjennelse fra myndighetene. Aksjene i Selskapet vil, gitt innfrielse av ovennevnte betingelser, bli overtatt av følgende personer:

Arne Evensen
Arnold Sollund
Arvid Hansen
Terje Rønning
Sissel Evensen
Sigrid Evensen
Asbjørn Hansen
Unni Hansen
Roy Egil Sollund
Aina Merethe Sollund
Tobias Henriksen Hansen

Transaksjonen vil bli finansiert ved bruk av egne eksisterende bank-kreditter, annonsert av Morpol ASA i desember 2010.

Gjennomføring av transaksjonen er forventet å finne sted i første halvdel av februar 2011.

ABG Sundal Collier Norge ASA har vært engasjert som finansielle rådgivere og Advokatfirmaet Selmer DA har vært engasjert som juridiske rådgivere for Transaksjonen.

Jøkelfjord Laks
Jøkelfjord Laks AS ble stiftet i 1986 og ligger i Kvænangen kommune i Troms. Jøkelfjord Laks AS har 7 ordinære konsesjoner for produksjon av matfisk, en undervisningskonsesjon og to konsesjoner for produksjon av smolt. Selskapet har eget slakteri og pakkeri og hadde i 2010 en produksjon på 6 700 tonn laks. Produksjonen foregår på 10 lokaliteter, samtlige i Kvænangen kommune. Selskapet har ca 40 årsverk. Forventet produksjon for 2011 er om lag 7 000 tonn laks. Anleggene er selvforsynt med smolt og har en kapasitet på 1,6 millioner smolt per år.

Jøkelfjord Laks AS er anerkjent som en av de dyktigste lakseoppdretterne i Norge med forventet driftsresultat for 2010 på ca 100 millioner kroner.

Styret og ledelsen i Jøkelfjord Laks består av:

Arne Evensen, Styreleder og administrerende direktør
Arnold Sollund, styremedlem
Arvid Hansen, styremedlem
Terje Rønning, styremedlem

Styrets sammensetning vil bli evaluert og justert ved forventet ferdigstillelse av transaksjonen.

Nøkkeltallene for Jøkelfjord Laks i tabellen nedenfor er utarbeidet i samsvar med god regnskapsskikk.

*Nøkkeltall resultat*
NOKm	2006	2007	2008	2009
Driftsinntekter	111.8	117.7	127.9	161.3
Driftsresultat (EBIT)	33.5	24.6	31.1	43.1
Årsresultat	23.4	16.9	21.9	31.2


*Nøkkeltall balanse*
NOKm	31 des. 2006	31 des. 2007	31 des. 2008	31 des. 2009
Anleggsmidler	31.9	36.9	37.0	57.2
Omløpsmidler	76.9	75.1	100.8	121.9
Sum eiendeler	108.8	112.1	137.8	179.1

Egenkapital	56.3	60.2	79.1	99.3
Langsiktig gjeld	34.0	33.3	30.1	37.1
Kortsiktig gjeld	18.5	18.5	28.6	42.7
Sum egenkapital og gjeld	108.8	112.1	137.8	179.1


*Andre nøkkeltall*
	2006	2007	2008	2009
EBIT-margin	30%	21%	24%	27%
Slaktevolum (1,000 tonn, gw)	3.5	5.0	5.2	5.6
EBIT/kg	9.5	5.0	6.0	7.7

Effekter av oppkjøpet for Morpol
Jøkelfjord Laks er Morpol sitt første oppkjøp i Norge og er et av de dyktigste lakseselskapene i landet. Selskapet har relativt mange lokaliteter and der er ingen andre oppdrettsaktører i Kvænangsfjorden eller Jøkelfjorden. Fiskehelsen har historisk vært svært god og Morpol vurderer både Selskapets eksisterende lisenser og området Selskapet opererer i til å ha svært gode vekstpotensialer. Morpols intensjon er å opprettholde en sterk lokal tilknytning til Jøkelfjord og støtte Selskapet finansielt slik at det kan vokse i regionen i årene fremover. Med denne transaksjonen fortsetter Morpol å bygge videre på sin strategi om å sikre deler av råvarebehovet for å videreutvikle Morpol som en ledende leverandør av høy-kvalitets lakseprodukter. Morpol forventer synergier på mellomlang sikt på 2-3 kr per kilo grunnet forbedret råvareutnyttelse fra oppdrett til foredlingsdivisjonen. Etter gjennomføring av transaksjonen vil Morpol ha eiendeler i oppdrett som tilsvarer over 35% av eget råvarebehov for videreforedling i 2011. Ved børsnoteringen i juni 2010 annonserte Morpol et mål om å sikre opp til 50% av råvarebehovet ved å eie egne oppdrettsanlegg.

For ytterligere informasjon, vennligst kontakt:
Steven Rafferty, Chief Financial Officer Morpol ASA, tel 97 66 41 04

Om Morpol
Morpol-gruppen driver med foredling, salg og distribusjon av ferdige lakseprodukter. Hovedprodukter er: kaldrøkt og varmrøkt laks, gravlaks, ferske laksefileter, frosne lakseporsjoner, organisk laks, vill-laks og laksespesialiteter. Morpol har, siden 2010 også lakseoppdrettsvirksomhet i Skottland. Morpols totale driftsinntekter i 2009 var på om lag 340 millioner euro.

Denne opplysningen er informasjonspliktig etter verdipapirhandelloven §5-12

Attached Files:

Extended stock exchange announcement in connection with the contemplated acquisition of Jøkelfjord Laks AS ( English )

17/01/2011

Oslo, 17 January 2011: Morpol ASA (OSE: MORPOL)

Reference is made to the press release dated 13 January 2011 in connection with the entering into an agreement to acquire 100% of the shares in Jøkelfjord Laks AS ("Jøkelfjord Laks" or the "Company").

The Transaction
Morpol ASA ("Morpol") has entered into an agreement to buy 100% of the shares in Jøkelfjord Laks (the "Transaction"). The agreement values the company at an enterprise value of NOK 490 million. This corresponds to an equity value of NOK 510 million. The final purchase price will be based on the balance sheet at closing and adjusted for changes in net cash position and net working capital.

The completion of the Transaction is subject to satisfactory due diligence and potential required governmental approval. The shares in the Company will, subject to the conditions above, be acquired from the following persons:

Arne Evensen
Arnold Sollund
Arvid Hansen
Terje Rønning
Sissel Evensen
Sigrid Evensen
Asbjørn Hansen
Unni Hansen
Roy Egil Sollund
Aina Merethe Sollund
Tobias Henriksen Hansen

The Transaction will be financed by drawing on existing credit facilities with banks, announced by Morpol ASA in December 2010. Closing of the Transaction is expected to take place during the first half of February 2011.

ABG Sundal Collier Norge ASA has been engaged as financial advisor and Advokatfirmaet Selmer DA has been engaged as legal advisor in relation to the Transaction.

Description of Jøkelfjord Laks
Jøkelfjord Laks was established in 1986 and is located in Kvænangen municipality in Troms county. Jøkelfjord Laks has seven ordinary licences for production of salmon, one licence for educational purpose and two licences for smolt production. The Company owns a slaughtery and packing station. The production in 2010 was 6 700 tonnes salmon and takes place on 10 locations, all in Kvænangen municipality. Jøkelfjord Laks has about 40 employees. Expected production for 2011 is approximately 7 000 tonnes salmon. The Company produces its own smolt and has a capacity of 1.6 million smolt annually.

Jøkelfjord Laks is recognised as one of the best performing salmon farmers in Norway with an expected EBIT of approximately NOK 100 million in 2010.

The Board of Directors and executive management of Jøkelfjord Laks currently consist of:

Arne Evensen, Chairman of the Board and Managing Director
Arnold Sollund, Board member
Arvid Hansen, Board member
Terje Rønning, Board member

The board composition will be evaluated and adjusted upon expected completion of the Transaction.

Key financials for Jøkelfjord Laks prepared in accordance with Norwegian Generally Accepted Accounting Principles are displayed in the table below.

*Key profit & loss figures*
NOKm	2006	2007	2008	2009
Revenues	111.8	117.7	127.9	161.3
EBIT	33.5	24.6	31.1	43.1
Net income	23.4	16.9	21.9	31.2


*Key balance sheet figures*
NOKm	31 Dec. 2006	31 Dec. 2007	31 Dec. 2008	31 Dec. 2009
Fixed assets	31.9	36.9	37.0	57.2
Current assets	76.9	75.1	100.8	121.9
Total assets	108.8	112.1	137.8	179.1

Equity	56.3	60.2	79.1	99.3
Long term debt	34.0	33.3	30.1	37.1
Short term debt	18.5	18.5	28.6	42.7
Total equity and liabilities	108.8	112.1	137.8	179.1


*Other key figures*
	2006	2007	2008	2009
EBIT-margin	30%	21%	24%	27%
Harvest (1,000 tonnes, gw)	3.5	5.0	5.2	5.6
EBIT/kg	9.5	5.0	6.0	7.7

Implications of the acquisition for Morpol
Jøkelfjord Laks is Morpol's first acquisition in Norway and is one of the best performing salmon companies in the country. The Company has relatively many sites and there are no other players in farming in Kvænangsfjorden or Jøkelfjord. The health of the Company's biomass has historically been very good and Morpol considers both the Company's current licences and the area in which the Company operates to contain significant growth potential. Morpol intends to maintain the strong local identity of Jøkelfjord and to financially support the Company to expand in the region in the coming years. With this Transaction Morpol continues to build on its strategy to secure parts of its raw material need to further develop as a leading supplier of high quality salmon products. Morpol expects synergies medium term of 2-3 NOK per kilo due to improved raw material utilization from the farming to processing divisions. After completion of the Transaction, Morpol will own farming assets covering over 35% of its raw material requirements for processing in 2011. Morpol stated a target to secure up to 50% of raw material in its own farming operations when listing on the Oslo Stock Exchange in June 2010.

For further information, please contact:
Steven Rafferty, Chief Financial Officer Morpol ASA, phone +47 97 66 41 04

Founded in 1996 in Ustka on the Baltic coast of Poland, the company employs over 3,000 people in eight countries. The Morpol Group is the world leader in smoked salmon. The company has achieved its world leading position through the efficiency of processing activities, a constant focus on product quality and service provided to retail and food service customers. Morpol serves customers across Europe, Japan and the United States.
www.morpol.com

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

Attached Files:

Morpol har inngått avtale om å overta alle aksjene i Jøkelfjord Laks AS ( Norwegian )

13/01/2011

Oslo, 13.januar 2011: Morpol ASA (OSE: MORPOL)

Morpol ASA ("Morpol") har inngått avtale om å overta 100% av aksjene i Jøkelfjord Laks AS. Avtalen priser selskapet til 490 millioner kroner på gjelds- og kontantfri basis. Dette tilsvarer en egenkapitalverdi på 510 millioner kroner. Den endelige kjøpesummen vil være basert på balansen ved overtagelse og justert for endringer i netto kontantposisjon og netto arbeidskapital.

Gjennomføring av transaksjonen er betinget av tilfredsstillende due dilligence og eventuell nødvendig godkjennelse fra myndighetene.

Jøkelfjord Laks AS ble stiftet i 1986 og ligger i Kvænangen kommune i Troms. Jøkelfjord Laks AS har 7 ordinære konsesjoner for produksjon av matfisk, en undervisningskonsesjon og to konsesjoner for produksjon av smolt. Selskapet har eget slakteri og pakkeri og hadde i 2010 en produksjon på 6 700 tonn laks. Produksjonen foregår på 10 lokaliteter, samtlige i Kvænangen kommune. Selskapet har ca 40 årsverk. Forventet produksjon for 2011 er om lag 7 000 tonn laks. Anleggene er selvforsynt med smolt og har en kapasitet på 1,6 millioner smolt per år.

Jøkelfjord Laks AS er anerkjent som en av de dyktigste lakseoppdretterne i Norge med forventet driftsresultat for 2010 på ca 100 millioner kroner.

Gjennomføring av transaksjonen er forventet å finne sted i første halvdel av februar 2011.

"Vi er veldig glade for å ha fått en nye eier som er opptatt av å drive videre i tråd med den driftsformen som er her i dag. Vi mener at Morpol er en svært god kjøper for Jøkelfjord og vil fortsette å utvikle selskapet som en viktig aktør i lokalmiljøet", sier daglig leder og styreleder Arne Evensen i Jøkelfjord Laks.

Jerzy Malek, CEO i Morpol sier: " Vi er svært fornøyde med å gå inn i oppdrett i Norge og sikre oss en av de beste oppdretterne i landet. Vi bygger med dette videre på vår strategi om å sikre deler av vårt råvarebehov for å videreutvikle Morpol som en ledende leverandør av høy-kvalitets lakseprodukter".

For ytterligere informasjon, vennligst kontakt:
Arne Evensen, Daglig leder og styreleder Jøkelfjord Laks AS, tel: 97 96 00 08
Steven Rafferty, Chief Financial Officer Morpol ASA, tel 97 66 41 04

Om Morpol
Morpol-gruppen driver med foredling, salg og distribusjon av ferdige lakseprodukter. Hovedprodukter er: kaldrøkt og varmrøkt laks, gravlaks, ferske laksefileter, frosne lakseporsjoner, organisk laks, vill-laks og laksespesialiteter. Morpol har, siden 2010 også lakseoppdrettsvirksomhet i Skottland. Morpols totale driftsinntekter i 2009 var på om lag 340 millioner euro.

Selskapet ble grunnlagt i 1996 i Utska på den baltiske kysten av Polen og har mer enn 3 000 ansatte i åtte land. Morpol er verdensledende innen røkelaks. Selskapet har oppnådd sin ledende posisjon gjennom effektive produksjonsprosesser, et sterkt fokus på produktkvalitet og høy grad av serviceoverfor kunder innen både retail og storhusholdning. Morpol betjener kunder i hele Europa, i Japan og i USA. Selskapet er notert på Oslo Børs. www.morpol.com

Denne opplysningen er informasjonspliktig etter verdipapirhandelloven §5-12

Attached Files:

Morpol enters agreement to acquire all shares in Jøkelfjord Laks AS ( English )

13/01/2011

Oslo, 13 January 2011: Morpol ASA (OSE: MORPOL)

Morpol ASA ("Morpol") has entered an agreement to buy 100% of the shares in Jøkelfjord Laks AS. The agreement values the company at an enterprise value of NOK 490 million. This corresponds to an equity value of NOK 510 million. The final purchase price will be based on the balance sheet at closing and adjusted for changes in net cash position and net working capital.

The completion of the transaction is subject to satisfactory due diligence and potential required governmental approval.

Jøkelfjord Laks AS was established in 1986 and is located in Kvænangen municipality in Troms county. Jøkelfjord Laks AS has seven ordinary licences for production of salmon, one licence for educational purpose and two licences for smolt production. The company owns a slaughtery and packing station. The production in 2010 was 6 700 tonnes salmon and takes place on 10 locations, all in Kvænangen municipality. Jøkelfjord Laks has about 40 employees. Expected production for 2011 is approximately 7 000 tonnes salmon. The company produces its own smolt and has a capacity of 1.6 million smolt annually.

Jøkelfjord Laks AS is recognised as one of the best performing salmon farmers in Norway with an expected EBIT of approximately NOK 100 million in 2010.

The closing of the transaction is expected to take place first half of February 2011.

"We are very happy that the new owner wants to continue in line with today's operations. We believe Morpol is an excellent buyer for Jøkelfjord and will continue to develop the company as an important player in the local community", says Managing Director and Chairman of the Board, Arne Evensen in Jøkelfjord Laks.

Jerzy Malek, Morpol CEO comments: "We are very pleased to enter into salmon farming in Norway and get on board one of the best performing salmon farmers in the country. With this transaction we continue to build on our strategy to secure parts of our raw material need to further develop Morpol as a leading supplier of high quality salmon products".

For further information, please contact:
Steven Rafferty, Chief Financial Officer Morpol ASA, phone +47 97 66 41 04
Arne Evensen, Managing Director and Chairman of the Board of Jøkelfjord Laks AS, phone +47 97 96 00 08

About Morpol
The Morpol Group is engaged in salmon processing as well as sale and distribution of finished salmon products. The Morpol Group's main products are: cold and hot smoked salmon, gravadlax, fresh salmon fillets, frozen salmon portions, organic salmon, wild salmon and salmon specialties. The Morpol Group also has salmon farming activities in Scotland. The Morpol Group had revenue of approximately EUR 340 million in 2009.

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

Attached Files:

Annual overview of stock exchange releases 2010 ( English )

10/01/2011

22/12/2010

Morpol ASA - Avholdt ekstraordinær generalforsamling ( Norwegian )

22/12/2010

Morpol ASA - Extraordinary general meeting held ( English )

22/12/2010

Morpol signs new debt facility ( English )

Oslo, 22 December 2010: Morpol ASA (OSE: MORPOL)

Morpol ASA announces the signing of a EUR 250 million 5-year debt facility, which will be used to consolidate and refinance existing loans and increase operational and strategic flexibility going forward.

The leading banks, DnB NOR and Rabobank are the mandated lead arrangers and have committed a long-term senior secured facility with a term of five years for EUR 250 million. Morpol had a net interesting bearing debt of EUR 156 million at the end of third quarter.

Jerzy Malek, Morpol CEO commented: "This is an important milestone for the success of strengthening our position as the world leader in smoked salmon and to build a platform for further growth in the salmon processing and farming industry. I am pleased that DnB NOR and Rabobank have recognised our leading position and put in place these facilities at competitive terms".

For further information, please contact:
Steven Rafferty, Chief Financial Officer, phone +47 97 66 41 04

About Morpol
The Morpol Group is engaged in salmon processing as well as sale and distribution of finished salmon products. The Morpol Group's main products are: cold and hot smoked salmon, gravadlax, fresh salmon fillets, frozen salmon portions, organic salmon, wild salmon and salmon specialties. The Morpol Group also has salmon farming activities in Scotland since 2010. The Morpol Group had revenue of approximately EUR 340 million in 2009.
Founded in 1996 in Ustka on the Baltic coast of Poland, the company employs over 3,000 people in eight countries. Morpol Group is the world leader in smoked salmon. The company has achieved its world leading position through the efficiency of processing activities, a constant focus on product quality and service provided to retail and food service customers. Morpol serves customers across Europe, Japan and the United States.

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

Attached Files:

Morpol ASA - Tilfredsstillende resultat tross høye råvarepriser i tredje kvartal ( Norwegian )

26/11/2010

Oslo, 26. november 2010

Morpol ASA rapporterte null i driftsresultat i tredje kvartal 2010. Underliggende driftsresultat er 2,6 millioner euro, da det i kvartalet er kostnadsført 2,6 millioner euro i transaksjonskostnader, påløpt i forbindelse med oppkjøp i perioden. Driftsresultatet for tilsvarende kvartal i fjor var 2,9 millioner euro.

Til tross for at råvareprisen på laks falt fra nivåene i andre kvartal, forble de vesentlig høyere enn i fjor og påvirket dermed marginene for prosesseringsvirksomheten. Morpol-gruppen oppnådde et resultat etter skatt på 0,9 millioner euro for kvartalet, mot 3,9 millioner euro i samme periode i 2009.

Driftsinntektene vesentlig opp
Driftsinntektene i tredje kvartal 2010 var vesentlig høyere enn i samme periode i fjor med 93,3 millioner euro, mot 67,7 millioner euro i tredje kvartal 2009. Inntektsøkningen skyldes en kombinasjon av sterk volumvekst og høyere salgspriser.

Fortsatt sterk salgsvekst
Det totale salgsvolumet steg med 23 prosent sammenlignet med tredje kvartal 2009. Volumutviklingen har vært god sammenlignet med 2009 innen alle kategorier med unntak av kaldrøkt laks og spesialiteter.

- Vi oppnådde tilfredsstillende resultater i tredje kvartal 2010 til tross for utfordringen med høye råvarepriser. Vi har realisert vårt strategiske mål om å gå inn i oppdrettsnæringen, og vi har også kjøpt en prosesseringsvirksomhet i Storbritannia. Dette vil bidra til å øke markedsandelen i utvalgte markeder, sier Morpols CEO, Jerzy Malek.

Oppkjøp i kvartalet
Morpol har i løpet av kvartalet kjøpt Mainstream Scotland (nå Northern Isles Salmon), Marine Farms, Brookside Products Ltd. og eiendeler i Westray Salmon Ltd. og Rysa Salmon Ltd. Northern Isles Salmon er inkludert i gruppens resultater fra og med 1. august 2010. Øvrige oppkjøpte selskap vil bli inkludert i gruppens resultater fra og med fjerde kvartal. Alle oppkjøp i perioden er reflektert i gruppens balanse ved utgangen av tredje kvartal.

- Selv om marginene i tredje kvartal er lavere enn vi gjerne hadde sett, er vi trygge på at vår forretningsmodell vil gi oss muligheten til å komme sterkere tilbake i kommende kvartaler og vi forventer bedre resultater i fjerde kvartal og inn i 2011. Vårt hovedfokus vil fortsatt være stabil produksjon av høykvalitetsprodukter som tilfredsstiller kundenes behov, sier Malek.

Morpol hadde en netto rentebærende gjeld på 156 millioner euro ved utgangen av tredje kvartal, mot 75,5 millioner euro på samme tidspunkt i fjor. Årsaken til økningen er oppkjøpene i kvartalet.

For ytterligere informasjon, kontakt:
Steven Rafferty, Chief Financial Officer, telefon +47 97 66 41 04
John-Paul McGinley, Chief Operating Officer, telefon +48 507 030 019

Om Morpol
Morpol-gruppen driver med foredling, salg og distribusjon av ferdige lakseprodukter. Hovedprodukter er: kaldrøkt og varmrøkt laks, gravlaks, ferske laksefileter, frosne lakseporsjoner, organisk laks, vill-laks og
laksespesialiteter. Morpol har, siden 2010 også lakseoppdrettsvirksomhet i Skottland. Morpols totale driftsinntekter i 2009 var på om lag 340 millioner euro.

Selskapet ble grunnlagt i 1996 i Utska på den baltiske kysten av Polen og har mer enn 3 000 ansatte i åtte land. Morpol er verdensledende innen røkelaks. Selskapet har oppnådd sin ledende posisjon gjennom effektive produksjonsprosesser, et sterkt fokus på produktkvalitet og høy grad av serviceoverfor kunder innen både retail og storhusholdning. Morpol betjener kunder i hele Europa, i Japan og i USA. Selskapet er notert på Oslo Børs. www.morpol.com

Denne opplysningen er informasjonspliktig etter verdipapirhandelloven §5-12

Attached Files:

MAFA Rapport 3 kvartal 2010

Rapport 3 kvartal 2010

Presentasjon 3 kvartal 2010

26/11/2010

Morpol ASA - Satisfactory result despite high raw material costs in third quarter ( English )

Oslo, 26 November 2010: Morpol ASA (OSE: MORPOL)

Morpol ASA reported a break even EBIT result for the third quarter 2010. This includes one off exceptional costs related to acquisitions, totaling EUR 2.6 million, which means that the operational EBIT was EUR 2.6 million in the quarter. The EBIT in the corresponding quarter last year was EUR 2.9 million.

Though raw material prices of salmon dropped from the levels in the second quarter, they still remained significantly higher than prior year and impacted on the processing margins. The Morpol Group had a net profit of EUR 0.9 in the quarter (EUR 3.9 million).

Operating revenues up strongly from prior year
Operating revenues in third quarter 2010 were well above prior year at EUR 93.3 million (EUR 67.7 million). The revenue increase was due to a combination of strong volume growth and higher sales prices.

Continued strong sales growth
Total sales volume grew by 23 percent compared to third quarter 2009. There was a good volume development versus 2009 in all categories with the exception of Cold smoked salmon and Specialities.

"We had satisfactory results in the third quarter of 2010 despite the challenge of high raw material costs. We have realised our strategic goal to enter into salmon farming, and we have also acquired a processor in UK. This will help us increase the market share in selected markets", says CEO Jerzy Malek.

Acquisitions in the quarter
During the quarter, Morpol has acquired Mainstream Scotland (now Northern Isles Salmon), Marine Farms, Brookside Products Ltd. and assets of Westray Salmon Ltd. and Rysa Salmon Ltd. Northern Isles Salmon is included in the consolidated income statement as from 1 August 2010. The other acquired companies will not be included in the income statement until the fourth quarter. All acquired companies are included in the Group's balance sheet at third quarter end.

"Though margins in the third quarter are lower than we would like, we are confident that our business model will allow us to recover strongly in the coming period and we expect to see an improved performance in the fourth quarter and into 2011", comments Jerzy Malek. "Our focus remains on producing stable, good quality products designed to satisfy customer needs".

Morpol had a net interesting bearing debt (NIBD) of EUR 156 million at the end of third quarter, compared to EUR 75.5 million at the end of third quarter last year. The increase is due to the acquisitions in the quarter.

For further information, please contact:
Steven Rafferty, Chief Financial Officer, phone +47 97 66 41 04
John-Paul McGinley, Chief Operating Officer, phone +48 507 030 019

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

Attached Files:

Morpol presents its Q3 2010 results 26 November at 08:00 CET ( English )

Report 3rd Quarter

Presentation 3rd Quarter

Report 3rd Quarter MAFA

17/11/2010

29/10/2010

Management structure for Morpol's Scottish farming operation ( English )

25/10/2010

Morpol ASA - Invitation to Capital Markets Day 1-2 December in Ustka, Poland ( English )

Oslo, 25 October 2010:

Morpol ASA is pleased to invite investors, analysts, media and other interested partied to a Capital Markets Day on 1-2 December 2010 at the company's main processing facility in Ustka, Poland.

The number of participants will be limited, and investors, analysts and representatives from the media will have to register in advance. Priority will be given to sell side analysts and current Morpol shareholders.

The Capital Markets Day will take place the week after the Q3 2010 results presentation and contain a broad presentation of the company's overall business and strategy. CEO Jerzy Malek and Morpol management will further give presentations of the various business areas and markets. There will also be a guided tour of the processing facilities in Ustka, which is the largest salmon processing facility in the world.

Morpol will arrange for transportation for those coming from Norway through a chartered round trip flight Oslo Gardermoen-Gdansk, and bus transportation in Poland. Departure from Oslo will be in the morning 1 December, with return to Oslo in the afternoon on 2 December. Participants will be accommodated in a hotel in Ustka from 1-2 December.

For further information and registration, please contact Marit Husa, Communication Manager, Morpol ASA, tel.: +47 4768 5544 or email: m.husa@morpol.com. Deadline for signing up is 12 November 2010.

About Morpol
The major activity of the Morpol Group is salmon processing as well as sale and distribution of finished salmon products. The Morpol Group's main products are: cold and hot smoked salmon, gravadlax, fresh salmon fillets, frozen salmon portions, organic salmon, wild salmon and salmon specialties. The Morpol Group also has salmon farming activities in Scotland, which can provide around 30 percent of its salmon raw materials. The revenue of the Morpol Group in 2009 was approximately EUR 340 million.

Founded in 1996 in Ustka on the Baltic coast of Poland, the company employs over 3,000 people in eight countries. Morpol Group is the world leader in smoked salmon. The company has achieved its world leading position through the efficiency of processing activities, a constant focus on product quality and service provided to retail and food service customers. Morpol serves customers across Europe, in Japan and the United States. www.morpol.com

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

Attached Files:

Morpol acquires Brookside Products Limited in UK ( English )

24/09/2010

Oslo, 24 September 2010: Morpol ASA (OSE: MORPOL)

Morpol ASA has acquired 100% of Brookside Products Limited, a processor of smoked salmon based in Cumbria, UK. The annual production capacity of Brookside is about 1.500 tonnes finished products. Expected turnover for 2010 is GBP 12 million.

The total transaction is settled by a combination of cash and an earn-out clause with a maximum transaction price of below GBP 1 million.

Brookside Products currently has an estimated market share of 10% of the UK smoked salmon market. Morpol will use Brookside as a platform to further strengthen its position in this important market.

"Through the combination of recent farming acquisitions in Scotland and this important step into smoked salmon processing within the UK, we now have an excellent base where we can further penetrate not only the UK market, but also other European markets" says Mr Jerzy Malek, CEO of Morpol.

For further information, please contact:

Steven Rafferty, Chief Financial Officer, phone +47 97 66 41 04
John-Paul McGinley, Chief Operating Officer, phone +48 507 030 019

About Morpol
The major activity of the Morpol Group is salmon processing as well as sale and distribution of finished salmon products. The Morpol Group's main products are: cold and hot smoked salmon, gravadlax, fresh salmon fillets, frozen salmon portions, organic salmon, wild salmon and salmon specialties. The Morpol Group also has salmon farming activities in Scotland, which can provide around 30 percent of its salmon raw materials. The revenue of the Morpol Group in 2009 was approximately EUR 340 million.

Founded in 1996 in Ustka on the Baltic coast of Poland, the company employs over 3,000 people in eight countries. Morpol Group is the world leader in smoked salmon. The company has achieved its world leading position through the efficiency of processing activities, a constant focus on product quality and service provided to retail and food service customers. Morpol serves customers across Europe, in Japan and the United States.
www.morpol.com

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

Attached Files:

MORPOL ASA - EXTENDED STOCK ANNOUNCEMENT - ACQUISITION OF [90.5] % IN MARINE FARMS ASA ( English )

17/09/2010

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN

MORPOL ASA
EXTENDED STOCK ANNOUNCEMENT - ACQUISITION OF [90.5] % IN MARINE FARMS ASA

INTRODUCTION

(Oslo 17 September 2010) Morpol ASA ("Morpol") has acquired 57.6 % of the shares in Marine Farms ASA ("MAFA") at a price of NOK 18.50 per share, and consequently controls 90.5 % of the company. Morpol intends to launch a mandatory cash offer to purchase all outstanding shares in MAFA or initiate a mandatory redemption in accordance with the Public Limited Liability Companies Act Section 4-25.

DESCRIPTION OF MARINE FARMS

MAFA is listed at the Oslo Stock Exchange ("OSE") with the ticker MAFA

Marine Farms ASA has been involved in the fish farming business since 1976 and has considerable knowledge of all aspects of fish farming, from broodfish to the finished product. MAFA' core competence is its technical and biological know-how and innovativeness. The Group's operations mainly consist of salmon farming in the U.K. and seabass / seabream in Spain. These activities are run through the 100% owned companies Lakeland (U.K.) and Culmarex (Spain), both being fully integrated companies and among the most profitable in their respective markets. In addition, MAFA is engaged in farming of the fast growing marine species cobia in Vietnam and in Belize. The Group had a turnover of NOK 879 million in 2009 and had 647 employees per 30.06.2010.

Salmon (Lakeland Group)
Lakeland has been operating within the salmon farming industry since 1987, and specialises in vertically integrated production of Atlantic salmon, all the way from the broodfish through egg, fry, parr, smolt and fully grown salmon to the sale of gutted salmon and fresh fillets. Lakeland's hatchery business is the largest third party supplier of salmon ova and smolt to the UK market. The Company has a production capacity of over 60 million ova and up to 10.0 million smolt.

Lakeland has today an annual production capacity averaging approximately 13,500 tonnes gwt. Due to a fallowing regime in Scotland, however, Lakeland's production capacity can vary between 12,500 tonnes gwt and 14,500 tonnes gwt any given year.

Lakeland is planning to sell approximately 12,000 tonnes gwt of own produced salmon in 2010. For 2011,
the plan is to sell approximately 14,000 tonnes gwt.

Seabass/seabream (Culmarex Group)
Culmarex was founded in 1986 and commenced the production of various marine species such as yellowtail and oysters. In 1990 the Company was purchased by MAFA and it was then decided to focus its activities on seabass and seabream, two relatively highly priced white meat fish from the Mediterranean. The fish grow relatively slowly and are sold round from 350g and upwards. Culmarex is today a vertically integrated supplier of seabass and seabream, and conducts all parts of the production, from broodfish through the pre-ongrowing of juveniles up until the fish is ready for the market. Culmarex has approximately 340 employees and the Company is renowned for its good service and high quality. This is reflected in the prices the Company achieves in the market for its fish.

Culmarex has today a licenced production capacity of approximately 10,200 tonnes. Expectations are that Culmarex will receive permits for expansions of existing farms in the years ahead.

Culmarex is planning to sell approximately 8,400 tonnes of own-produced seabass and seabream in 2010.
For 2011, the plan is to sell approximately 9,000 tonnes.

Cobia (Belize and Vietnam)
Cobia is a white meat fish that lives in tropical waters (20-30C°). It grows from 1 gram to 5-6 kg in one year and the fillets are popular in sushi and other dishes. Cobia is a relatively unknown species. However, Cobia has all the desired traits for a farmed fish such as good eating qualities, large fillets, high on Omega-3, do well in cages, fast growth, year round egg supplies and an efficient production. MAFA started cobia farming in 2002 with the operation of a hatchery in Florida. This hatchery was closed down in 2007, when the Company started the construction of a new hatchery in Belize. The new hatchery was completed in 2009, with a capacity of 1-2 million cobia juveniles. Farming of cobia for fresh export to the US started in Belize in 2006. The Company has now a vertically integrated production of cobia in Belize. Farming of cobia in Vietnam started up in 2006, the strategy being fresh export to the Asian market and frozen export to other markets. All major investments in infrastructure and farming equipment are now in place, both in Belize and in Vietnam. However, the operations are set up for significant increased production volumes, resulting in losses when production is low.

Based on the decision of the Board of Directors at MAFA, the cobia business in Belize has been put up for sale.

Board of Directors
Currently the Board of MAFA consists of seven members. All Board members are independent of the Company's Executive Management. The Board members Mr. Epameinondas Lambadarios, Mr. Aristides Belles and Mr. Dimitris Loumpounis represent the former shareholder Nireus Aquaculture SA who until Morpol's acquisition of shares controlled 33.0% of the Company. They were therefore considered dependent of one of the Company's main shareholders. The remaining four board members, Ms. Kristin Krohn Devold, Ms. Tone Bjørnov, Lady Katherine Innes Ker and Mr Edoardo Bugnone are independent of the Company's main shareholders. The following provide a profile of the current members of the Board:

Mr. Epameinondas Lambadarios, (born 1944), Chairman of the Board
Mr. Lambadarios has a law degree from Harvard Law School. Today he is Managing Partner of Lambadarios Law Firm. In addition he holds several board assignments, amongst other on the board of Nireus Aquaculture SA. Mr. Lambadarios has been member of the Board since March 2010 and is up for re-election in 2012. Mr. Lambadarios is a Greek citizen.

Dimitris Loumpounis, (born 1955), Board member
Mr. Loumpounis holds a degree in Mechanics/Electrics from the Technical University of Athens. Today he is an executive board member of Nireus Aquculture SA. Mr. Loumpounis has been member of the Board since May 2009 and is up for re-election in 2012. Mr. Loumpounis is a Greek citizen.

Tone Bjørnov, (born 1961), Board member
Ms Bjørnov holds a degree in business administration from the Nowegian School of Management. Today she is Partner with Valutacorp AS. In addition she holds several board assignments. Ms. Bjørnov has been member of the Board since May 2009 and is up for re-election in 2012. Mr. Bjørnov is a Norwegian citizen.

Aristides Belles, (born 1953), Board member
Mr. Belles holds a degree in Business Administration from the Piraeus University. He is founder of Nireus Aquaculture SA and today he is the Chairman and Managing Director of the Board of Directors, as well as the major shareholder of the company. In addition he holds several board assignments. Mr. Belles has been member of the Board since March 2010 and is up for re-election in 2012. Mr. Belles is a Greek citizen.

Kristin Krohn Devold, (born 1961), Board member
Ms. Krohn Devold holds a Master of Science Degree in Business from the Norwegian School of Economics and Business Administration (NHH). Today she is Secretary General in The Norwegian Mountain Tracking Association. She has a background from the Norwegian parliament and government. In addition she holds several board assignments. Ms. Krohn Devold has been member of the Board since March 2010 and is up for re-election in 2012. Mr. Krohn Devold is a Norwegian citizen.

Lady Katherine Innes Ker, (born 1960), Board member
Lady Katherine Innes Ker holds a D.Phil in Molecular Biophysics and a Hons Degree in Chemistry from Oxford University. She has broad board experience as well as relevant knowledge of the investment and financial sector. Today she holds several board assignments. Lady Innes Ker has been member of the Board since March 2010 and is up for re-election in 2012. Lady Innes Ker is a UK citizen.

Edoardo Bugnone, Board member
Mr. Bugnone holds a degree in Commercial Sciences and Business Administration from the University of Geneva . He is a founder and CEO of John Isaac SA. He is also a Founding Partner of private equity firm Top Quartile Partners. Between 2001 and 2002, Mr. Bugnone was Chairman of the European Private Equity and Venture Capital Association (EVCA). Mr. Bugnone has been member of the Board since March 2010 and is up for re-election in 2012. Mr. Bugnone has Swiss and Italian citizenship.

Vasilis Theofanopoulos, (born 1973), Deputy board member
Mr. Theofanopoulos holds an MBA with Distiction from London Business School with concentration in Finance, Strategy & Private Equity. Mr. Theofanopoulos currently serves as Nireus Group's Director of Strategy, M&A and Corporate Development. Mr. Theofanopoulos has been deputy member of the Board since May 2009 and is up for re-election in 2012. Mr. Theofanopoulos is a Greek citizen.

Morpol ASA will following the transaction change the Board.

The Executive Management of MAFA includes the following:

Bjørn Myrseth, Bergen (born 1944), CEO
Mr. Myrseth is a fishery biologist from University of Bergen; due to his long tenure and considerable expertise, he is by many considered one of the pioneers of the modern fish farming industry. Mr. Myrseth was also one of the founders of Stolt Sea Farms where he held the position as CEO from 1972-1987. Mr. Myrseth is a Norwegian citizen.

Pål Angell-Hansen, Bergen (born 1969), CFO,
Mr. Angell-Hansen holds a Master of Science in Shipping, Trade & Finance from Cass Business School. From September 2005 he has been permanently employed at MAFA. He is a former independent consultant, investor and advisor at SND Invest with main focus on seafood companies. Mr. Angell-Hansen is a former analyst with SEB Merchant Banking. Mr. Angell-Hansen is a Norwegian citizen.

William Liston, Scotland (born 1945), CEO Lakeland
Mr. Liston has his education from the Edinburgh Academy and has broad managerial experience from more than 40 years in the seafood industry, engaging in sales and marketing in particular. Mr. Liston is together with his wife the founder of the sales company Sea Products of Scotland, currently owned by MAFA. Mr. Liston is a UK citizen.

Dr. Geoffrey Smart, UK, (born 1947), CEO Culmarex
Dr. Smart holds a Ph.D. in fish physiology from the University of Bristol and is a Master of Science from University of London. He also holds a H.N.D. from University of Wolverhampton. Dr. Smart has been part of MAFA since 1986. Dr. Smart is a UK citizen.

TRANSACTION

Morpol ASA ("Morpol") has on 17 September 2010 acquired 21 083 407 shares in Marine Farms ASA ("MAFA") at NOK 18.50 per share. In addition Morpol has bought all 6 032 823 shares in MAFA owned by its main shareholder Friendmall Ltd at NOK 18.00 per share. After the transactions, Morpol owns 33 148 407 shares in MAFA, corresponding to 90.5% of the outstanding shares in MAFA.

SUM OF THE PARTS VALUATION

Morpol's average cost price per MAFA share is NOK 18.34. This corresponds to NOK 671 million for 100% of the outstanding shares in MAFA. Net debt in MAFA as of June 2010 was NOK 615 million. Total implicit enterprise value is NOK 1,286 million.

Morpol has based its offer on the following relative enterprise valuation; Lakeland NOK 900 million, Culmarex and Cobia in total NOK 400 million. Lakeland has significantly external sale of ova and juveniles which represents approximately NOK 15-20 million in annual EBIT. The value of external sale of juvenile and ova business is estimated to be NOK 120 million, hence the implicit value of Lakeland farming business is NOK 780 million before considering synergies.

Lakeland expects to sell 12,000 tonnes salmon in 2010, and 14,000 tonnes salmon in 2011. Based on an average harvest volume of 13,000 tonnes going forward due to fallowing regime in Scotland, the EV/kg multiple for Lakeland farming is approximately NOK 60.

FINANCING

Morpol ASA will finance the acquisition with available cash resources.

IMPLICATIONS OF THE ACQUISITION FOR MORPOL

MAFA's Scottish operation in salmon farming, Lakeland, has consistently delivered strong results and has an estimated harvest of 12,000 tonnes for 2010 and plan to sell 14 000 tonnes in 2011. The activities of the recently acquired Mainstream Scotland will be integrated into Lakelands operations. Through the two units Morpol will have established a farming cluster with potential for 25 000 tonnes of annual harvest. Morpol expects synergies of 2-3 NOK per kilo of raw material utilization and 1 NOK per kilo on the farming integration. Morpol expects to utilize the strong freshwater operations of Lakeland to produce larger smolts to maximize growth within its seawater farming operations of all the recently acquired companies.

Additionally, MAFA has interesting activities in Seabass/Seabream through Culmarex as well as emerging operations in Cobia farming with the main activities in Vietnam.

Morpol intends to hold the Culmarex and Cobia assets for sale or a potential spin off as a separate listed company.

KEY FINANCIAL INFORMATION

The following key financial information has been extracted from MAFA audited financial statements for 2009 and 2008 and unaudited half year report for the first half of 2010 and 2009 available on MAFA's website, www.marinefarms.no.

Key figures income statement

	Q2 2010	Q2 2009	1H 2010	1H 2009	2009	2008	2007
Revenues	288 859	212 179	508 553	406 058	870 406	739 376	735 420
EBITDA before fair value adj. Biomass	54 459	38 895	95 815	63 153	97 402	101 190	132 527
EBIT before fair value adj. Biomass	41 742	26 040	70 119	38 208	45 001	58 495	90 787
EBIT	25 221	50 134	59 020	73 642	108 161	13 748	79 861
Profit	23 911	49 732	48 902	62 222	84 293	8 961	60 921
Net profit from continuing operations	16 181	35 178	30 574	42 729	53 844	8 991	30 593
Net profit	-24 933	19 113	-17 734	20 996	13 097	-23 555	32 506

Key figures from balance sheet

	1H 2010	1H 2009	2009	2008	2007
Total intangible assets	117 445	128 191	112 859	132 610	103 750
Total tangible assets	278 624	386 912	352 789	411 414	280 340
Total non current assets	404 334	519 524	471 410	548 102	386 559
Total inventory	598 954	607 414	647 243	607 678	467 598
Total receivables	186 644	193 950	155 001	172 106	159 871
Current assets held for sale	33 550
Cash	12 843	8 841	10 477	81 829	47 933
Total assets	1 236 325	1 329 729	1 284 131	1 409 715	1 061 961

Total equity	433 382	503 383	443 611	492 313	474 828
Liabilities to financial institution	585 037	561 465	525 737	596 126	259 307
Other non-current liabilities	16 843	24 328	24 493	16 339	59 405
Total non-current liabilities	601 880	585 793	550 230	612 465	318 712
Liabilities to financial institution	42 873	102 796	165 036	141 424	106 318
Other current liabilities	158 190	137 757	125 254	163 513	162 103
Total current liabilities	201 063	240 553	290 290	304 937	268 421
Total equity and liabilities	1 236 325	1 329 729	1 284 131	1 409 715	1 061 961

Net interst bearing debt	615 067	655 420	680 296	655 721	317 692

ADVISORS

ABG Sundal Collier has been engaged as financial advisor and Advokatfirmaet Selmer DA has been engaged as legal advisor in relation to the transaction.

DISCLAIMER

This announcement is not an offer for sale of securities in the United States or any other country. The securities referred to herein have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be sold in the United States absent registration or pursuant to an exemption from registration under the U.S. Securities Act. Morpol does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Any offering of securities will be made by means of a prospectus that may be obtained from Hydro and that will contain detailed information about the company and management, as well as financial statements. Copies of this announcement are not being made and may not be distributed or sent into the United States, Canada, Australia, Japan or any other jurisdiction in which such distribution would be unlawful or would require registration or other measures.

FORWARD LOOKING STATEMENTS:

Certain statements included within this announcement contain forward-looking information, including, without limitation, those relating to (a) forecasts, projections and estimates, (b) statements of management's plans, objectives and strategies for Morpol, such as planned expansions, investments or other projects, (c) targeted production volumes and costs, capacities or rates, start-up costs, cost reductions and profit objectives, (d) various expectations about future developments in Morpol's markets, particularly prices, supply and demand and competition, (e) results of operations, (f) margins, (g) growth rates, (h) risk management, as well as (i) statements preceded by "expected", "scheduled", "targeted", "planned", "proposed", "intended" or similar statements.

Although we believe that the expectations reflected in such forward-looking statements are reasonable, these forward-looking statements are based on a number of assumptions and forecasts that, by their nature, involve risk and uncertainty. Various factors could cause our actual results to differ materially from those projected in a forward-looking statement or affect the extent to which a particular projection is realized. Factors that could cause these differences include, but are not limited to: our continued ability to reposition and restructure our upstream and downstream salmon business; changes in availability and cost of energy and raw materials; global supply and demand for salmon; world economic growth, including rates of inflation and industrial production; changes in the relative value of currencies and the value of commodity contracts; trends Morpol's key markets and competition; and legislative, regulatory and political factors.

No assurance can be given that such expectations will prove to have been correct. Morpol disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For further information - please contact:

Steven Rafferty, CFO, mobile: + 47 97 66 41 04
John Paul McGinley, COO, mobile +48 507 030 019

ABOUT MORPOL

The Morpol Group is engaged in salmon processing as well as sale and distribution of finished salmon products. The Morpol Group's main products are: cold and hot smoked salmon, gravadlax, fresh salmon fillets, frozen salmon portions, organic salmon, wild salmon and salmon specialties. The Morpol Group had revenue of approximately EUR 340 million in 2009.

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

Attached Files:

Morpol ASA secures majority shareholding in Marine Farms ( English )

17/09/2010

Oslo, 17 September 2010: Morpol ASA (OSE: MORPOL) has acquired a further 74.1% of the shares in Marine Farms ASA ("MAFA") at a price of NOK 18.50 per share, and consequently controls 90.5 % of the company. Morpol intends to launch a mandatory cash offer to purchase all outstanding shares in MAFA at NOK 18.50 per share or initiate a mandatory redemption in accordance with the Public Limited Liability Companies Act Section 4-25.

Marine Farms Scottish operation in salmon farming, Lakeland, has consistently delivered good results and has an estimated harvest of 12,000 tonnes of salmon for 2010 and plans to sell 14,000 tonnes in 2011. Following on from the recent acquisitions of Mainstream Scotland, Westray Salmon and Rysa Salmon, Morpol has created a farming operation with potential for over 25 000 tonnes of annual harvest. Morpol expects to achieve strong synergies in raw material utilization within the sales and processing division and further synergies on the farming integration. The combined Scottish entity will be used as a platform to strengthen Morpol's position in key sales markets.

Additionally, MAFA has interesting activities in Seabass/Bream through Culmarex as well as emerging operations in Cobia farming with the main activities in Vietnam. Morpol intends to hold the Culmarex and Cobia assets for sale or a potential spin off as a separate listed company.

Marine Farms is listed at the Oslo Stock Exchange (OSE) with the ticker MAFA.

Transaction
Morpol has acquired 21.1 million shares at NOK 18.50 per share and 6.0 million shares at NOK 18.00 per share corresponding to 74.1% of the shares in Marine Farms for a total of NOK 499 million. After today's transactions Morpol owns a total of 90.5% of the shares in Marine Farms.

For further information, please contact:

Steven Rafferty, Chief Financial Officer, phone +47 97 66 41 04
John-Paul McGinley, Chief Operating Officer, phone +48 507 030 019

About Morpol
The Morpol Group is engaged in salmon processing as well as sale and distribution of finished salmon products. The Morpol Group's main products are: cold and hot smoked salmon, gravadlax, fresh salmon fillets, frozen salmon portions, organic salmon, wild salmon and salmon specialties. The Morpol Group had revenue of approximately EUR 340 million in 2009.

Founded in 1996 in Ustka on the Baltic coast of Poland, the company employs over 3,000 people in eight countries. Morpol Group is the world leader in smoked salmon. The company has achieved its world leading position through the efficiency of processing activities, a constant focus on product quality and service provided to retail and food service customers. Morpol serves customers across Europe, in Japan and the United States.
www.morpol.com

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

Attached Files:

Morpol ASA - Sterk vekst, men høye råvarepriser gir lavere marginer i andre kvartal ( Norwegian )

31/08/2010

Oslo, 31. august 2010

Morpol ASA meldte negativt driftsresultat (EBIT) for andre kvartal 2010 på 2,1 millioner euro. Dette var en nedgang i forhold til tilsvarende kvartal i 2009, som ga et overskudd på 11,0 millioner euro. Høye råvarepriser påvirket resultatet negativt og konsernet fikk et negativt nettoresultat for kvartalet på 2,2 millioner euro (overskudd på 10,9 millioner euro) og et nettoresultat for halvåret på 1,4 millioner euro (15,5 millioner euro).

Til tross for økte volumer, ga en vesentlig økning i råvareprisen - hovedsakelig på slaktet laks kjøpt i Norge - negativ effekt på den kortsiktige lønnsomheten sammenlignet med fjoråret. Det ventes at råvareprisene på laks vil falle fra det nåværende rekordhøye nivået i løpet av andre halvår 2010.

Sterk vekst i driftsinntekter
Driftsinntektene for andre kvartal 2010 var 22 prosent høyere enn andre kvartal i fjor, og utgjorde 83,4 millioner euro (68,1 millioner euro). Inntektsøkningen skyldes i hovedsak sterk volumvekst - 16 prosent salgsvekst innen kjernevirksomheten - og også høyere priser.

- Vi hadde tilfredsstillende resultater i første halvår 2010 og etterspørselen etter laks er høy. Andre kvartal var utfordrende med rekordhøye eksportpriser på laks, noe som påvirket oss negativt. Men, vi har igjen vokst kraftig og skapt en plattform for fremtidig utvikling, sier konserndirektør i Morpol, Jerzy Malek.

Morpol opplevde sterk salgsvekst i første halvår. Volumene innen selskapets kjernevirksomhet var 24 prosent høyere enn i tilsvarende periode i 2009. Tyskland er fortsatt Morpols viktigste marked, men selskapet vokser raskt med distribusjon av kjerneprodukter i andre markeder, som Frankrike, USA og Storbritannia.

Oppkjøp av tre selskaper
Morpol annonserte nylig sine første skritt inn i oppdrettsnæringen gjennom overtagelsen av Mainstream Scotland og Westray Salmon. I dag annonserer Morpol at de har inngått avtale om overtagelsen av hele virksomheten i et tredje oppdrettsselskap; Rysa Salmon på Orknøyene i Skottland. Rysa Salmon har to oppdrettslisenser og produserer for tiden kun organisk laks med en anslått produksjon i 2010 på om lag 450 tonn. Morpol planlegger å øke størrelsen på lakselisensene slik at det tillates produksjon av om lag 750 tonn per år. Kjøpesum for Rysa er 1,96 millioner GBP (2,4 millioner euro). Morpol vil fusjonere aktiva i Rysa Salmon med Mainstream Scotland og Westray Salmon.

- Vi følger vår strategi for integrasjon og penetrasjon av oppstrømsvirksomhet i utvalgte markeder, og jeg er tilfreds med de stegene vi har gjort ved overtagelsen av oppdrettsvirksomheter i Skottland, sier Malek.

Til tross for at eksportprisene fra Norge og andre land har vært svært høye i et historisk perspektiv, vil en økt tilgang sansynligvis bety en gradvis reduksjon i markedesprisen for slaktet laks, som er Morpol viktigste råvare.

For ytterligere informasjon, kontakt:
Steven Rafferty, Chief Financial Officer, tel.: +47 97 66 41 04
John-Paul McGinley, Chief Operating Officer, tel.: +48 507 030 019

Om Morpol
Morpol gruppen driver med foredling, salg og distribusjon av ferdige lakseprodukter. Hovedprodukter er: kaldrøkt og varmrøkt laks, gravlaks, ferske laksefileter, frosne lakseprosjoner, organisk laks, vill-laks og laksespesialiteter. Morpols totale driftsinntekter i 2009 var på om lag 340 millioner euro.

Denne opplysningen er informasjonspliktig etter verdipapirhandelloven §5-12

Attached Files:

Morpol ASA - Strong growth but high raw material prices impacting on margins in second quarter ( English )

31/08/2010

Oslo, 31 August 2010: Morpol ASA (OSE: MORPOL)

Morpol ASA reported a negative EBIT for second quarter 2010 of EUR 2.1 million. This was a decrease from corresponding quarter 2009 where there was a profit of EUR 11.0 million. High raw material prices impacted negatively on the results. The group had a net loss in the quarter of EUR 2.2 million (EUR 10.9 million profit) and a net profit in the first half of EUR 1.4 million (EUR 15.5 million).

Despite higher volumes, a significantly higher raw material price - mainly gutted salmon purchased from Norway - compared to last year had an adverse impact on profitability short term. It is expected that raw material prices of salmon will drop from current record levels in the second half of 2010.

Strong growth in operating revenues
Operating revenues in the second quarter of 2010 were 22 per cent above the second quarter prior year at EUR 83.4 million (prior year EUR 68.1 million). The revenue increase was mainly driven by a strong volume increase - 16 per cent increase in core product sales - and also higher sales prices.

"We had satisfactory results in the first half of 2010 and the demand for salmon is high. The second quarter was challenging with export prices of salmon reaching historical record levels which affected us negatively. However, we have once again grown strongly and created a platform for the future" says CEO Jerzy Malek.

Morpol experienced strong sales growth during the first half year. The volume growth of core products grew 24 per cent compared to the same period 2009. Germany remains the main market for Morpol products. However, Morpol is expanding rapidly into other markets such as France, USA and UK with its core products.

Acquisition of three companies
Morpol previously announced its first step into salmon farming with the acquisition of Mainstream Scotland and Westray Salmon. Today Morpol announces that the company has entered into an agreement to acquire the total assets of a third salmon company; Rysa Salmon in Orkney, Scotland. Rysa Salmon has two farming licenses and currently only produces organic salmon with an annual harvest in 2010 of approximately 450 tonnes. Morpol plans to increase the size of the salmon licenses to allow annual harvest of approximately 750 tonnes per year. Purchase price for the Rysa transaction is GBP 1.96 million (EUR 2.40 million). Morpol will merge the assets of Rysa salmon with Mainstream Scotland and Westray Salmon.

"We are following our strategy of upstream integration and penetration of selected markets, and I am satisfied with the first steps we have made by acquiring salmon farming operations in Scotland", says Jerzy Malek.

Though export prices from Norway and other countries have been very high compared with historical levels, an increased supply will likely mean a gradual decrease in the market price for gutted salmon, the main raw material input for Morpol.

For further information, please contact:
Steven Rafferty, Chief Financial Officer, phone +47 97 66 41 04
John-Paul McGinley, Chief Operating Officer, phone +48 507 030 019

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

Attached Files:

Closing of purchase of Mainstream Scotland and acquisition of Westray Salmon ( English )

25/08/2010

Oslo, 25 August 2010: Morpol ASA (OSE: MORPOL)

With reference to the purchase of Mainstream Scotland announced on 18 August 2010, we hereby confirm that the closing of the transaction took place as scheduled today, 25 August 2010. The financial results of Mainstream Scotland will be consolidated into Morpol ASA from 1 August 2010.

Further, Morpol has acquired the total assets of Westray Salmon Limited in Orkney, Scotland. The assets include licenses, fixed assets and the biomass. Westray Salmon has five farming licenses with a total capacity of approximately 2,800 metric tonnes. Currently Westray Salmon only produces organic salmon with an annual production in 2010 of approximately 500 tonnes. Morpol will merge the assets of Westray Salmon with the Mainstream Scotland operations and utilise three of the Westray licenses only. The three licenses to be farmed have a combined capacity of 2,500 metric tonnes with the other two licenses being too small to be economically viable at this stage. It is anticipated that 1,400 tonnes of sales volume, still including a percentage of organic, will be added to Mainstream volume from 2012 and after.

Purchase price for the transaction is GBP 3.28 million (NOK 32 million). The acquisition is settled with cash. Approximately 200 tonnes of organic salmon will be sold in the remainder of 2010.

Further information regarding the farming acquisitions will be given at the quarterly presentation which will take place 31 August at 08.00 CET at Shippingklubben, Haakon VII's gate 1, Oslo. The Q2 presentation will also be available as webcast, accessible via our website.

For further information, please contact:

Steven Rafferty, Chief Financial Officer, phone +47 97 66 41 04
John-Paul McGinley, Chief Operating Officer, phone +48 507 030 019

About Morpol
The Morpol Group is engaged in salmon processing as well as sale and distribution of finished salmon products. The Morpol Group's main products are: cold and hot smoked salmon, gravadlax, fresh salmon fillets, frozen salmon portions, organic salmon, wild salmon and salmon specialties. The Morpol Group had revenue of approximately EUR 340 million in 2009.

Founded in 1996 in Ustka on the Baltic coast of Poland, the company employs over 3,000 people in eight countries. Morpol Group is the world leader in smoked salmon. The company has achieved its world leading position through the efficiency of processing activities, a constant focus on product quality and service provided to retail and food service customers. Morpol serves customers across Europe, Japan and the United States.

www.morpol.com

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

Attached Files:

Morpol ASA buys Mainstream Scotland from Cermaq ASA ( English )

18/08/2010

Oslo, 18 August 2010: Morpol ASA (OSE: MORPOL)

Morpol ASA has acquired 100% of Mainstream Scotland for an enterprise value of NOK 350 million. The combined Morpol - Mainstream Scotland companies will become a unique vertically integrated player in the salmon farming and processing sector.

Mainstream Scotland is part of Mainstream Group, a wholly owned subsidiary of Cermaq ASA, the large Norwegian listed company which is active in both fish farming and fish feed. Mainstream Scotland is the main salmon producer in the Orkney Islands. In Shetland, Mainstream's production represents some 10 percent of the total annual harvest volume of the island. Mainstream Scotland has fresh water production facilities on the Scottish mainland and primary processing plants in Orkney and Shetland. Mainstream Scotland expects to harvest 6,500 tonnes of Atlantic Salmon in 2010. In 2009 Mainstream Scotland had a turnover of NOK 196.7million which is expected to increase to over NOK 230 million in 2010.

The closing date for the transaction is expected to take place 25 August 2010.

"It is exciting for Morpol to make the first step into salmon farming, particularly entering first in Mainstream Scotland which we believe has a significant potential for growth over today's production levels. We intend to use this acquisition as a platform for market penetration in the UK and French markets and will further invest in processing to align Morpol with our customers' needs. We believe we can extract synergies in the value chain and enhance margins while at the same time increasing our presence in other markets such as the U.S. which prefers Scottish origin salmon. With this step, we secure about 10% of our raw material needs," says Mr Jerzy Malek, CEO of Morpol.

Mainstream results in Scotland have been improving over the last years. EBIT of NOK 8.80 per kg was realised in the second quarter 2010. With over 4,000 tonnes of the annual sales to be made in the second half 2010, the company is positioned to achieve solid profits in this period. Mainstream Scotland financial results will be consolidated into Morpol ASA from 1 August 2010.

For further information, please contact:
Steven Rafferty, Chief Financial Officer, phone +47 97 66 41 04
John-Paul McGinley, Chief Operating Officer, phone +48 507 030 019

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

Attached Files:

Presentation of Q2 2010 results 31 August 2010 at 08:00 ( English )

06/08/2010

28/06/2010

Morpol ASA Financial calendar ( English )

28/06/2010

MORPOL: Successful initial public offering and allocation of shares ( English )

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, HONG KONG OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THE STOCK EXCHANGE NOTICE.

Oslo, 28 June 2010: Morpol ASA ("Morpol" or the Company" - OSE: MORPOL) announces that, pursuant to the Offering as described in the Prospectus dated 15 June 2010, the board of directors of the Company (the "Board") has resolved to allocate a total of 66,000,000 Shares at the price of NOK 22 per Share, consisting of 52,000,000 New Shares to be issued in the Share Issue, 8,000,000 Secondary Shares to be sold in the Secondary Sale by the Selling Shareholder and 6,000,000 Over-Allotment Shares pursuant to the Over-Allotment Facility. Subject to completion, the gross proceeds from the Share Issue (before over-allotment) will be NOK 1,144,000,000. The Company will receive no proceeds from the sale of the Secondary Shares.

"We are very pleased to see how positive Morpol has been received in the market. Despite challenging financial markets, Morpol has been able to attract a broad range of institutional investors with a wide geographical spread of shareholders", says Mr. Jerzy Malek, CEO of Morpol.

About 96 per cent of the Shares were allocated to institutional investors and 4 per cent of the Shares to retail investors. Allocation letters will be sent to the applicants today. The payment date is 1 July 2010 for the Shares allocated to institutional investors and 30 June 2010 for the Shares allocated to retail investors, as further described in the Prospectus. Delivery is conditional upon correct payment as specified in the Prospectus, and transfer of Shares is subject to registration of the Share Issue in the Norwegian Register of Business Enterprises and correct payment as further described in the Prospectus.

Of the 52,000,000 New Shares to be issued in the Share Issue, 29,000,000 Shares were resolved by the board of directors in a board meeting held on 27 June 2010 pursuant to the board authorisation granted by the general meeting on 5 June 2010, and 23,000,000 Shares resolved by the general meeting of the Company held on 27 June 2010. The resolutions imply a share capital increase of NOK 5,200,000 through the issue of 52,000,000 new Shares, each with a par value of NOK 0.10. The share capital increase will, subject to completion, result in a share capital of NOK 15,200,000 consisting of 152,000,000 Shares each with a par value of NOK 0.10 and representing one vote in the general meeting of Morpol. The share capital increase is expected to be registered in the Norwegian Register of Business Enterprises on or about 29 June 2010.

In accordance with the Greenshoe option granted by the Company in relation to the Over-Allotment Facility, the board of directors has resolved a share capital increase, based on the board authorisation granted by the general meeting on 5 June 2010, directed towards the Stabilisation Manager, ABG Sundal Collier Norge ASA, whereby the Stabilisation Manager may subscribe up to 6,000,000 new shares at the same subscription price of NOK 22 if the Greenshoe option is exercised by the Stabilisation Manager. Use of the Greenshoe option to the full extent will imply a share capital increase of up to NOK 600,000 through the issue of up to 6,000,000 New Shares each having a par value of NOK 0.10. Any use of the Green Shoe option will be promptly announced by the Company. A separate press release will be issued regarding the Over-Allotment and Stabilization Activities before the first day of trading.

Provided that all listing requirements are fulfilled, the first day of trading of Morpol's shares on Oslo Børs is expected to be 30 June 2010. The Company expects that the listing conditions will be met after registration of the Share Issue in the Norwegian Register of Business Enterprises.

The chairman of the board, James Stove Lorentzen, together with affiliated parties, was allocated in total 71,670 Shares in the Offering at the price of NOK 22 per share.

For further information please refer to the Prospectus dated 15 June 2010.

ABG Sundal Collier Norge ASA, DnB NOR Markets and Pareto Securities AS are acting as Joint Lead Managers and Joint Bookrunners in the Offering.

For further information, please contact:
Steven Rafferty, Chief Financial Officer, s.rafferty@morpol.com, phone +47 97 66 41 04
John-Paul McGinley, Chief Operating Officer, j.p.mcginley@morpol.com, phone +48 507 030 019

About Morpol
The Morpol Group is engaged in salmon processing as well as sale and distribution of finished salmon products. The Morpol Group's main products are: cold and hot smoked salmon, gravadlax, fresh salmon fillets, frozen salmon portions, organic salmon, wild salmon and salmon specialties. The Morpol Group had revenue of approximately EUR 340 million in 2009.
Founded in 1996 in Ustka on the Baltic coast of Poland, the company employs over 3,000 people in eight countries. Morpol Group is the world leader in smoked salmon. The company has achieved its world leading position through the efficiency of processing activities, a constant focus on product quality and service provided to retail and food service customers. Morpol serves customers across Europe, in Japan and the United States by offering value for money.
www.morpol.com

Important Notice
The contents of this announcement have been prepared by and are the sole responsibility of the Company. The Joint Lead Managers and Joint Bookrunners are acting exclusively for the Company and no one else, and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients, or for advice in relation to the contemplated offering, the contents of this announcement or any of the matters referred to herein.
The offering and the distribution of this announcement and other information in connection with the offering may be restricted by law in certain jurisdictions. The Company assumes no responsibility in the event there is a violation by any person of such restrictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions. This announcement may not be used for, or in connection with, and does not constitute, any offer of securities for sale in the United States or in any other jurisdiction. The offering will not be made in any jurisdiction or in any circumstances in which such offer or solicitation would be unlawful.

This announcement is not for distribution, directly or indirectly in or into any jurisdiction in which it is unlawful to make any such offer or solicitation to such person or where prior registration or approval is required for that purpose. No steps have been taken or will be taken relating to the offering in any jurisdiction outside of Norway in which such steps would be required. Neither the publication and/or delivery of this announcement shall under any circumstances imply that there has been no change in the affairs of the Company or that the information contained herein is correct as of any date subsequent to the earlier of the date hereof and any earlier specified date with respect to such information.

Securities may not be offered or sold in the United States absent registration or an exemption from registration. The offer shares offered in the offering have not been and will not be registered under the United States Securities Act of 1933, as amended (the "US Securities Act") or with any securities regulatory authority of any state or other jurisdiction of the United States, and may not be offered or sold within the United States, except in transactions exempt from registration under the US Securities Act, or in any other jurisdiction in which it would not be permissible to offer or sell such offer shares. All offers and sales outside the United States will be made in reliance on Regulation S under the US Securities Act.

This document does not constitute an offering circular or prospectus in connection with an offering of securities of the Company. Investors must neither accept any offer for, nor acquire, any securities to which this document refers, unless they do so on the basis of the information contained in the prospectus to be published by the Company. This document does not constitute an offer to sell, or the solicitation of an offer to buy or subscribe for, any securities and cannot be relied on for any investment contract or decision.

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

Attached Files:

Received applications exceeding the minimum of 50 million shares ( English )

24/06/2010

Oslo, 24 June 2010: Morpol ASA ("Morpol" or the "Company" - OSE: MORPOL),

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED
STATES, CANADA, AUSTRALIA, HONG KONG OR JAPAN OR ANY OTHER JURISDICTION IN WHICH
THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE
APPLICABLE. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THE STOCK EXCHANGE
NOTICE.

The Company has been informed by the Joint Lead Managers that the book is exceeding the minimum targeted offer size of 50 million shares. Consequently, the Book-building Period for the Institutional Offering is expected to close on 25 June 2010 at 17:30 hours (CET) and the Retail Application Period for the Retail Offering is expected to close on 25 June 2010 at 12:00 hours (CET) as originally planned.

For further information about the Global Offering, please refer to the Prospectus dated 15 June 2010.

About Morpol
The Morpol Group is engaged in salmon processing as well as sale and distribution of finished salmon products. The Morpol Group's main products are: cold and hot smoked salmon, gravadlax, fresh salmon fillets, frozen salmonportions, organic salmon, wild salmon and salmon specialties. The Morpol Group had revenue of approximately EUR 340 million in 2009.

Founded in 1996 in Ustka on the Baltic coast of Poland, the company employs over 3,000 people in eight countries. Morpol Group is the world leader in smoked salmon. The company has achieved its world leading position through the efficiency of processing activities, a constant focus on product quality and service provided to retail and food service customers. Morpol serves customers across Europe, in Japan and the United States by offering value for money.
www.morpol.com

For further information, please contact:
Steven Rafferty, Chief Financial Officer, phone +47 97 66 41 04

John-Paul McGinley, Chief Operating Officer, phone +48 507 030 019

Important Notice

The contents of this announcement have been prepared by and are the sole responsibility of the Company. The Joint Lead Managers and Joint Bookrunners are acting exclusively for the Company and no one else, and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients, or for advice in relation to the contemplated offering, the contents of this announcement or any of the matters referred to herein.

The offering and the distribution of this announcement and other information in connection with the offering may be restricted by law in certain jurisdictions.The Company assumes no responsibility in the event there is a violation by any person of such restrictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions. This announcement may not be used for, or in connection with, and does not constitute, any offer of securities for sale in the United States or in any other jurisdiction. The offering will not be made in any jurisdiction or in any circumstances in which such offer or solicitation would be unlawful.

This announcement is not for distribution, directly or indirectly in or into any jurisdiction in which it is unlawful to make any such offer or solicitation to such person or where prior registration or approval is required for that purpose. No steps have been taken or will be taken relating to the offering in any jurisdiction outside of Norway in which such steps would be required. Neither the publication and/or delivery of this announcement shall under any circumstances imply that there has been no change in the affairs of the Company or that the information contained herein is correct as of any date subsequent to the earlier of the date hereof and any earlier specified date with respect to such information.

Securities may not be offered or sold in the United States absent registration or an exemption from registration. The offer shares offered in the offering have not been and will not be registered under the United States Securities Act of 1933, as amended (the "US Securities Act") or with any securities regulatory authority of any state or other jurisdiction of the United States, and may not be offered or sold within the United States, except in transactions exempt from registration under the US Securities Act, or in any other jurisdiction in which it would not be permissible to offer or sell such offer shares. All offers and sales outside the United States will be made in reliance on Regulation S under the US Securities Act.

This document does not constitute an offering circular or prospectus in connection with an offering of securities of the Company. Investors must neither accept any offer for, nor acquire, any securities to which this document refers, unless they do so on the basis of the information contained in the prospectus to be published by the Company. This document does not constitute an offer to sell, or the solicitation of an offer to buy or subscribe for, any securities and cannot be relied on for any investment contract or decision.

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)

Attached Files:

Morpol ASA approved for listing on Oslo Børs/Axess ( English )

16/06/2010

Oslo, 16 June 2010: Morpol ASA ("Morpol" or the "Company" - OSE: MORPOL)

The Board of Oslo Børs has resolved on 16 June 2010 to admit the shares of Morpol ASA to listing on Oslo Børs or Oslo Axess.

The Board of Oslo Børs stipulated that, prior to the first day of listing, the company must satisfy the requirement for the number of shareholders as required by Section 2.4.2 of the Listing Rules and at least 25% of the shares to be admitted to listing must be held by the general public as required by Section 2.4.1 of the Listing Rules.

If the company does not satisfy the requirement for the number of shareholders for listing on Oslo Børs, the company will be admitted to listing on Oslo Axess, subject to the other conditions being satisfied.

The Board of Oslo Børs authorised the Chief Executive Officer of Oslo Børs to decide whether the company should be listed on Oslo Børs or Oslo Axess, and to fix the date of the first day of listing, which is to be no later than 30 July 2010.

Subject to completion of the initial public offering as described in the prospectus for Morpol dated 15 June 2010, Morpol expects the first day of trading to be on or about 30 June 2010.

For more information, please contact:

Steven Rafferty, Chief Financial Officer, s.rafferty@morpol.com phone +47 97 66 41 04

John-Paul McGinley, Chief Operating Officer, j.p.mcginley@morpol.com phone +48 507 030 019

About Morpol
The Morpol Group is engaged in salmon processing as well as sale and distribution of finished salmon products. The Morpol Group's main products are: cold and hot smoked salmon, gravadlax, fresh salmon fillets, frozen salmon portions, organic salmon, wild salmon and salmon specialties. The Morpol Group had revenue of approximately EUR 340 million in 2009.

Founded in 1996 in Ustka on the Baltic coast of Poland, the company employs over 3,000 people in eight countries. Morpol Group is the world leader in smoked salmon. The company has achieved its world leading position through the efficiency of processing activities, a constant focus on product quality and service provided to retail and food service customers. Morpol serves customers across Europe, in Japan and the United States by offering value for money.
www.morpol.com

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

Attached Files:

Morpol ASA er godkjent for notering på Oslo Børs/Axess ( Norwegian )

16/06/2010

Oslo, 16. juni 2010: Morpol ASA ("Morpol" eller "Selskapet" - OSE: MORPOL),

Styret i Oslo Børs vedtok 16. juni 2010 å ta opp aksjene i Morpol ASA til notering ved Oslo Børs eller Oslo Axess.

Børsstyret forutsetter at selskapet før første noteringsdag oppfyller kravet til antall aksjeeiere slik det fremgår av Opptaksreglene pkt. 2.4.2 og har minst 25 % av aksjene som søkes notert spredt blant allmennheten slik det fremgår av Opptaksreglene pkt. 2.4.1.

Dersom kravet til antall aksjeeiere for notering på Oslo Børs ikke er oppfylt, tas selskapet opp til notering på Oslo Axess forutsatt at øvrige vilkår er oppfylt.

Børsdirektøren har fullmakt til å beslutte om selskapet skal noteres på Oslo Børs eller Oslo Axess, samt å fastsette første noteringsdag innen 30. juli 2010.

Betinget av gjennomføring av aksjetilbudet som beskrevet i prospekt for Morpol datert 15. juni 2010, forventer Morpol at første noteringsdag å være på eller rundt 30. juni 2010.

For ytterligere informasjon, vennligst kontakt:

Steven Rafferty, CFO, s.rafferty@morpol.com tlf: 97 66 41 04

John-Paul McGinley, COO, j.p.mcginley@morpol.com tlf: +48 507 030 019

Om Morpol
Morpol Gruppen er aktiv innen videreforedling av laks, i tillegg til salg og distribusjon av ferdige lakseprodukter. Morpol Gruppens hovedprodukt inkluderer: Kald- og varmrøkt laks, gravlaks, ferske laksefileter, frosne lakseporsjoner, biologisk laks, villaks og laksespesialiteter. Morpol Gruppen omsatte for ca. EUR 340 millioner i 2009.

Morpol ble etablert i 1996 på den baltiske kysten i Ustka i Polen. Selskapet har mer enn 3.000 ansatte i 8 land. Morpol Gruppen er verdens ledende innen røykelaks. Selskapet har oppnådd sin verdensledende posisjon gjennom effektiv foredling, fokus på kvalitet og service til nøkkelkunder, samt attraktive produkter for forbruker. Morpol betjener kunder over hele Europa, i Japan og USA.
www.morpol.com

Denne opplysningen er informasjonspliktig etter verdipapirhandelloven §5-12

Attached Files:

Approval of Prospectus ( English )

16/06/2010

Oslo, 16 June 2010: Morpol ASA ("Morpol" or the "Company" - OSE: MORPOL),

Morpol ASA has received approval from The Financial Supervisory Authority of Norway on the following prospectus:

The offering of minimum 50,000,000 and maximum 65,000,000 New Shares with a nominal value of NOK 0.10 per New Share and Secondary Sale from existing shareholders of up to 25,000,000 Secondary Shares in Morpol ASA, with a following listing of the shares on Oslo Børs, alternatively on Oslo Axess in the event all criteria for a listing on Oslo Børs are not met.

The indicative offer price range is set from NOK 22 to NOK 28 per share.

The subscription period for institutional investors is from and including 16 June 2010 to 17:30 CET on 25 June 2010. For retail investors the subscription period is from and including 15 June 2010 to 12:00 CET on 25 June 2010.

The Managers of the Offering is DnB NOR Markets, Pareto Securities AS and ABG Sundal Collier.

The prospectus is available at the company's web pages www.morpol.com and at the web-pages of DnB NOK Markets (www.dnbnor.no/emisjoner) and Pareto Securities (www.pareto.no).

The prospectus will also be available free of charge at the business offices of DnB NOR Markets, Pareto Securities AS and ABG Sundal Collier in Oslo.

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

For further information, please contact:

Steven Rafferty, Chief Financial Officer, s.rafferty@morpol.com, phone +47 97 66 41 04
John-Paul McGinley, Chief Operating Officer, j.p.mcginley@morpol.com, phone +48 507 030 019

Attached Files:

Transaction details Morpol ASA Initial Public Offering (IPO) ( English )

14/06/2010

Oslo, 14 June 2010: Morpol ASA ("Morpol" or the "Company" - OSE: MORPOL),

Following the previously announced listing process for Morpol ASA on the Oslo Børs, starting today, the company will undertake an intensive period of marketing and present the company to investors and potential shareholders through a roadshow. During the next two weeks Morpol management will visit selected cities in Europe and the US, among others London, Paris, Frankfurt, Warsaw, Oslo, New York and Boston.

The presentation of Morpol which will be used during the roadshow will be available on www.morpol.com from 10.00 CET today.

In connection with the listing, Morpol intends to carry out an offering of minimum 50,000,000 and maximum 65,000,000 new shares in the Company. Furthermore, the Company's primary shareholder, Friendmall Limited, intends to sell up to 25,000,000 secondary shares in the Company. In addition, it is expected that the managers will be granted an over-allotment option of up to 10% of the shares allotted in the offering. The completion of the offering will be subject to approval by the board of directors (or the general meeting if the offer size exceeds the existing board authorisation to issue shares), and listing on Oslo Børs (alternatively Oslo Axess).

The indicative price range per offer share in the offering is expected to be NOK 22 to NOK 28. The current number of shares in Morpol is 100,000,000. Given this price range, the indicative pre-money equity valuation of the company is NOK 2,200 million to NOK 2,800 million.

The free float of the shares in the Company after completion of the offering is expected to be at least 30%.

The terms and conditions of the offering will be presented in the listing and offering prospectus, which is expected to be published on or about Tuesday 15 June 2010, subject to the approval of the Norwegian Financial Supervisory Authority. The offering will comprise an institutional offering, directed towards Norwegian and international professional and institutional investors, and a public offering in Norway.

The book-building and application period in the institutional offering is expected to run from on or about 15 June 2010 to 25 June 2010 at 17:30 (CET). The application period in the Norwegian public offering is expected to run from on or about 15 June 2010 to 25 June 2010 at 12:00 (CET).

ABG Sundal Collier Norge ASA, DnB NOR Markets and Pareto Securities AS are acting as Joint Lead Managers and Joint Bookrunners in the offering.

Investing in the Company's shares, including the offer shares, involves risks. Risk factors will be further described in the prospectus for the offering.

The offering prospectus is expected to be available at the Company's and the Managers' addresses as well as on the Company's website www.morpol.com following its approval and publication, expected to occur on Tuesday 15 June 2010.

For further information, please contact:

Steven Rafferty, Chief Financial Officer, phone +47 97 66 41 04

John-Paul McGinley, Chief Operating Officer, phone +48 507 030 019

Important Notice

The contents of this announcement have been prepared by and are the sole responsibility of the Company. The Joint Lead Managers and Joint Bookrunners are acting exclusively for the Company and no one else, and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients, or for advice in relation to the contemplated offering, the contents of this announcement or any of the matters referred to herein.

The offering and the distribution of this announcement and other information in connection with the offering may be restricted by law in certain jurisdictions. The Company assumes no responsibility in the event there is a violation by any person of such restrictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions. This announcement may not be used for, or in connection with, and does not constitute, any offer of securities for sale in the United States or in any other jurisdiction. The offering will not be made in any jurisdiction or in any circumstances in which such offer or solicitation would be unlawful.

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

Attached Files:

Morpol ASA - Share capital increase registered with the Norwegian Register of Business Enterprises ( English )

07/06/2010

07/06/2010

Morpol ASA - Approval to have Morpol ASA as the new parent company ( English )

Oslo, 7 June 2010: Morpol ASA ("Morpol" or the "Company" - OSE: MORPOL),

The general meeting of Morpol ASA has resolved to reduce the share capital from NOK 1,000,000 to NOK 0 and subsequently to increase the share capital against contribution in kind by Morpol ASA acquiring approximately 99.94% of the shares in Morpol S.A. against issuing consideration shares in Morpol ASA to the shareholders in Morpol S.A. transferring their shares. The transfer of shares in Morpol S.A. to Morpol ASA has been carried out in accordance with continuity for accounting purposes (in Norwegian: Regnskapsmessig kontinuitet). The new share capital of Morpol ASA is NOK 10,000,000 divided on 100,000,000 shares at a par value of NOK 0.10. The share capital increases are expected to be registered in the Norwegian Register of Business Enterprises on 7 June 2010. The Company will issue a separate press release when the share capital increases has been registered.

The extraordinary general meeting on 5 June 2010 also resolved an authorisation to the Company's Board of Directors pursuant to which the Board of Directors may, in one or more rounds, increase the share capital by a total of up to NOK 5,000,000. The authorisation may be used for issuing shares in connection with the initial public offering, consideration shares under incentive schemes, consideration shares in acquisition of businesses within the Company's purpose and for necessary strengthening of the Company's equity. The authorization shall be valid until the ordinary general meeting in 2011, but no later than June 30, 2011.

The steps taken above are made to facilitate an IPO on the Oslo Stock Exchange, with the listing application due to be considered at the 16 June 2010 board meeting of the Oslo Børs. ABG Sundal Collier Norge ASA, DnB NOR Markets and Pareto Securities AS are acting as Joint Lead Managers and Joint Bookrunners in the IPO process for Morpol.

For further information, please contact:

Steven Rafferty (Chief Financial Officer), phone +47 97 66 41 04

About Morpol

The Morpol Group is engaged in salmon processing as well as sale and distribution of finished salmon products. The Morpol Group's main products are: cold and hot smoked salmon, gravadlax, fresh salmon fillets, frozen salmon portions, organic salmon, wild salmon and salmon specialties. The Morpol Group had revenue of approximately EUR 340 million in 2009.

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

Attached Files: