Fosnavåg, 14th.of April 2019
Havyard Group ASA (the "Company" or the "Seller") has today signed a Head of
Terms("HoT") for the sale of its 75% shareholding in MMC First Process AS to a
consortium of First Process Holding AS and Credo Partners as buyers (the
"Buyers"). As part of the transaction, Havyard Group ASA will purchase from MMC
First Process AS its 77% shareholding in MMC Green Technology AS (together the
MMC First Process AS is a company delivering innovative solutions for handling
and cooling of seafood onboard fishing vessels, live fish carriers and on-shore
MMC Green Technology AS is a company focusing on environmental protective
solutions for the maritime industry, hereunder ballast water treatment systems.
The Transaction is based on a valuation of MMCFP that, upon completion, is
expected to provide a significant effect on the Company's booked equity, and
will also free up a substantial amount of liquidity for the Company. The Company
and the Buyers will provide updates on the terms and the effects of the
Transaction upon signing of the SPA, which at the latest will be signed by the
15th of June.
The Transaction remain subject to execution of share purchase agreements and
Buyers customary due diligence.
Fearnley Securities is acting as financial advisor to the Company in connection
with the Transaction and has been engaged to assist the Company in its effort to
implement a sustainable long-term capital structure.
Geir Johan Bakke, CEO
Tel: +47 48 18 00 11
MMC First Process AS
Petter Leon Fauske, CEO
Tel: +47 97 08 03 39
Pål Brynsrud, Senior Partner
Tel: +47 92 26 56 56
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act