Hofseth Biocare ASA: Notice of an extraordinary general meeting

Reference is made to the stock exchange notice announced by Hofseth BioCare ASA ("HBC" or the "Company") on 13 December regarding an investment of NOK 144 million from Hofseth International AS ("Hofseth International") into HBC (the "Transaction") subject to, among other things, approval by an extraordinary general meeting in the Company of the share capital increase relating to the Transaction (the "EGM"). The Company has already received voting undertakings from shareholders representing the necessary majority requirement to approve the Transaction and related resolutions at the EGM.

The board of directors of HBC (the "Board") therefore calls for the EGM to be held at the offices of the Company at Keiser Wilhelms gate 24, Ålesund on 4 January 2024 at 13:00 hours CEST.

The notice with the full agenda is attached both in Norwegian and English and contains the following attachments: (1) the Board's proposal for the resolutions in item 4 and 5, (2) the shareholders' rights, participation and proxy, (3) the independent expert report relating to the share capital increase, and (4) the registration and proxy form.

Disclosure of large shareholding

Hofseth International, a close associate, of Board member Roger Hofseth, shall subscribe for 16,000,000 new preference class B shares at a subscription price of NOK 9 per class B share. Following completion of the Transaction, Roger Hofseth and close associates will hold 16,000,000 new preference class B shares without voting rights, and 129,111,962 ordinary shares with voting rights in the Company, corresponding to 32,67 % of the votes in the Company, and in total 35,30 % of the share capital. Roger Hofseth and related parties will therefore exceed the 33 % threshold with respect to the share capital pursuant to section 4-2 (2) of the Norwegian Securities Trading Act.

Mandatory notification of trade

Please see the attached form in accordance with article 19 of the EU Market Abuse Regulation.

For further information, please contact:  
Jon Olav Ødegård, CEO at HBC 
Phone: +47 936 32 966 
E-mail: joo@hofsethbiocare.no 

About Hofseth BioCare ASA:
HBC is a Norwegian consumer and pet health ingredient supplier and an incubator for new pharmaceutical drug leads. Research is ongoing to identify the individual elements within its ingredients that modulate inflammation and the immune response with pre-clinical studies ongoing in multiple clinics and university research labs. Lead clinical and pre-clinical candidates are focused on developing an oral treatment for inflammatory disease driven by eosinophils (a type of white blood cell). Clinical trial work with the oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD ("smokers lung").
Other leads are focused on using the company’s bioactive peptides as a Medical Food for the protection of the Gastro- Intestinal (GI) system against inflammation (including ulcerative colitis and the orphan condition necrotizing enterocolitis).
The company is founded on the core values of sustainability, optimal utilization of natural resources and full traceability. Through innovative and patent protected hydrolysis technology, HBC can preserve the quality of the lipids, proteins and calcium from fresh salmon off-cuts.
Hofseth BioCare's headquarters are in Ålesund, Norway with offices in Oslo, London, Zürich, New Jersey and Palo Alto, CA.
This information is subject of the disclosure requirements pursuant to article 19 of the EU Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading Act.

Attachments

• HBC - EGM Notice
• PDMR notification form - Hofseth International AS