Aqua Bio Technology: Issuance of consideration shares to Varming Holding AS

30.5.2023 11:35:56 CEST | Aqua Bio Technology ASA | Additional regulated
information required to be disclosed under the laws of a member state

Reference is made to the stock exchange announcement on 28 July 2022 where Aqua
Bio Technology ASA ("ABT" or the "Company") announced the acquisition of all
shares in Cosmed Beauty AS and Ultrabody AB (jointly, "Cosmed") from Varming
Holding AS ("Varming"). Under the acquisition terms ABT will issue shares to
Varming at an agreed and fixed subscription price of NOK 8,20 related to an
earn-out based on a multiple of Cosmed's result before tax for each of the
financial years 2022, 2023, 2024 and 2025 with settlement after Cosmed's annual
accounts for the respective financial year having been determined. Cosmed's
result before tax in 2022 was NOK 1 569 849. 

Against this background, the board of directors of ABT has today resolved a
share capital increase by the issuance of 217,769 new shares in the Company
towards Varming at a subscription price of NOK 8,20, each new share with a
nominal value of NOK 2.50. The total share subscription amount will be settled
through a set off against Varming's earn out for 2022 that will be settled with
shares.

The share capital increase represents a deviation from the preferential rights
of the Company's shareholders to subscribe for the new shares. The board of
directors has considered the share capital increase in light of the equal
treatment obligations under the Norwegian Public Limited Liability Companies
Act, the Norwegian Securities Trading Act, the rules on equal treatment under
Oslo Rule Book II for companies listed on Euronext Expand and is of the opinion
that the share capital increase is in compliant with these requirements as the
acquisition represented a key strategic investment for the Company.

 Following completion of the share capital increase, the Company's share capital
will be NOK 52 228 902.5, divided into 20,891,561 new shares, each with a
nominal value of NOK 2.50.

 For further information, please contact CEO Håvard Lindstrøm, telephone +47 941
32 288.

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

 About ABT: Aqua Bio Technology (ABT) is developing and commercializing
sustainable biotechnology for use in skin care products. ABT's cosmetics
ingredients are highly effective and they provide the cosmetics industry with
natural alternatives to traditional ingredients. ABT is also marketing and
distributing natural skin care products developed by partners towards consumers
and professional users. Aqua Bio Technology is listed on Euronext Expand.

DISCLOSURE REGULATION

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

CONTACTS

 * Håvard Lindstrøm, 004794132288, hl@aquabiotech.no 

ABOUT AQUA BIO TECHNOLOGY ASA

Aqua Bio Technology (ABT) is developing and commercializing sustainable
biotechnology for use in skin care products. ABT's cosmetics ingredients are
highly effective and they provide the cosmetics industry with natural
alternatives to traditional ingredients. ABT is also marketing and distributing
natural skin care products developed by partners towards consumers and
professional users. Aqua Bio Technology is listed on Euronext Expand.

ATTACHMENTS

Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17847556/2393/3314/Download%20announcement
%20as%20PDF.pdf

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