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Read more about Investor Relations, corporate governance, and company management here.

Contact data for analysts who regularly follow NRS.

About stockinformation:
Ticker: NRS
ISIN: NO0010331838
Org nr.: 864 234 232 NO
Number of shares: 43 572 191  à nominal NOK1,- per share

Contacts: 

ABG Sundal Collier
Vidar Kristoffer Strat
Phone: +47 22 01 61 60
Email: vidar.strat@abgsc.no

CARNEGIE
Lage Bøhren

Phone: +47 22 00 93 57
Email: lage.bohren@carnegie.no

Danske Bank Markets
Knut Ivar Bakken
Phone: +47 85 40 70 74
Email: knb@danskebank.no

DNB Markets
Alexander Aukner
Phone: +47 24 16 90 79
Email: alexander.aukner@dnb.no

FONDSFINANS
Knut Erik Løvstad
Phone: +47 23 11 30 40
Email: kel@fondsfinans.no

Handelsbanken Capital Markets
Ketil Lye
Phone: +47 22 39 72 99
Email: kjly01@handelsbanken.no

SEB
Bent Rølland
Phone: +47 22 82 71 26
Email: bent.rolland@seb.no








NORDEA MARKETS
Kolbjørn Giskeødegård
Phone: +47 22 48 79 83
Email: kolbjorn.giskeodegard@nordea.com

Norne Securities
Karl Johan Molner
Phone: +47 974 76 064
Email: karl-johan.molner@norne.no

PARETO SECURITIES AS
Carl-Emil Kjølå
s Johannessen
Phone: +47 24 13 39 41
Email: kjolas.johannessen@paretosec.com

SpareBank 1 Markets
Tore A. Tønseth
Phone: +47 24 14 74 18
Email: tore.tonseth@sb1markets.no

Swedbank
Phone: +47 23 23 80 00



Financial calendar 2018/2019 for Norway Royal Salmon ASA:

06.11.2018  Presentation Q3 2018
12.02.2019  Presentation of preliminary annual results 2018
30.04.2019  Annual Report 2018
21.05.2019  Presentation Q1 2019
06.06.2019  Annual General Meeting 2019
27.08.2019  Presentation Q2 2019
12.11.2019  Presentation Q3 2019



Please note that the financial calendar may be subject to change.

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


Shareholders
General Assembly
Statutes
Registrar

Largest shareholders

Articles of Association

Articles of Association, as worded after amendment adopted in the general meeting of 31. May 2018

Articles of Association


Shareholder Services

Registrar of Norway Royal Salmon ASA (org.no. 864 234 232 NO)
is Sparebank1 SMN – Trondheim.

The shares are registered in:
Norwegian Central Securities Depository (VPS) with ISIN NO0010331838.
Oslo Stock Exhange (OSE)  – ticker NRS.

Total number of shares issued is 43.572.191 shares with a par value NOK 1,-.
The assessed value as of 31.12.2014 is NOK 65,38 per share.
Dividend paid in 2013 was NOK 2,20 per share.

Releases for Oslo Stock Exchange and Press releases

Norway Royal Salmon ASA’s announcements to the Oslo Stock Exchange can be found at
 www.newsweb.no

Below are links to:

All stock exchange announcements from Norway Royal Salmon ASA
Link to Oslo Stock Exchange newsweb

Mandatory Notifications from Norway Royal Salmon ASA
Link to Oslo Stock Exchange newsweb

Disclosures of large shareholdings in Salmon ASA
Link to Oslo Stock Exchange newsweb



最後のリリース(英語)(15)
  • Norway Royal Salmon: Q1 19 – Operational EBIT of MNOK 164
    21.05.2019
  • Norway Royal Salmon: Notice to Annual General Meeting
    09.05.2019
  • Norway Royal Salmon: Invitation to presentation of Q1 2019
    08.05.2019
  • Mandatory notification of trade - extended TRS agreement
    12.04.2019
  • Key information regarding dividend for Norway Royal Salmon (NRS)
    11.04.2019
  • Norway Royal Salmon (NRS) – Financial statements for 2018 approved by the board of directors
    11.04.2019
  • Share-based incentive scheme - Mandatory notification of trade
    20.03.2019
  • Share-based incentive scheme - Mandatory notification of trade
    20.03.2019
  • Mandatory notification of trade – acquired treasury shares and extended TRS agreement
    14.03.2019
  • Norway Royal Salmon: Q4 18 – Highest Operational EBIT in the history of NRS
    12.02.2019
  • Invitation to presentation of Q4 2018
    05.02.2019
  • Mandatory notification of trade - extended TRS agreement
    18.01.2019
  • Q3 18 – Operational EBIT of MNOK 35
    06.11.2018
  • Invitation to presentation of Q3 2018
    31.10.2018
  • Invitation to presentation of Q4 2017
    07.02.2018

Norway Royal Salmon: Q1 19 – Operational EBIT of MNOK 164

Today Norway Royal Salmon (NRS) reports an operational EBIT of MNOK 164 for the first quarter 2019 and EBIT per kg of NOK 22.42. Corresponding figures for the same quarter last year were MNOK 193 and NOK 18.78.

- We are pleased with the operation in our main region, Region North, during the quarter. It is particularly gratifying to see that Finnmark continues the positive trend. Region South has harvested from the same site as in the previous quarter, with announced high production costs due to biological challenges. An important milestone has also been reached in the quarter by harvesting the first salmon from Arctic Fish on Iceland with a good biological result, says CEO Charles Høstlund.

Net operation cash flow amounted to MNOK 319 in the first quarter. Although NRS has purchased own shares for MNOK 103, net interest-bearing debt decreased in the quarter by MNOK 132 to MNOK 288. Equity increased to MNOK 2 355 at the end of the quarter, which equates an equity ratio of 60 per cent. Return on capital employed for the last four quarters is 36 per cent. During the quarter, the credit limit from the Group's bank increased by MNOK 600 to MNOK 2 000.

Region North

Region North posted an operational EBIT of MNOK 179.0 in the quarter, compared with MNOK 184.4 in the corresponding quarter last year. Operational EBIT per kg gutted weight was NOK 25.51 compared with NOK 19.22 in the corresponding quarter last year.

Region South

Region South posted an operational EBIT of MNOK 2.5 in the quarter, compared with MNOK 20.9 in the corresponding quarter last year. Operational EBIT per kg gutted weight was NOK 2.31, compared with NOK 15.64 in the corresponding quarter last year.

NRS harvested 8 096 tonnes gutted weight in the quarter, which is 26 per cent lower than in the same quarter last year. 7 016 tonnes of the total volume were harvested in Region North and 1 080 tonnes in Region South. Estimated harvest volume for 2019 is 37 500 tonnes. The sales business sold 22 838 tonnes salmon during the quarter, approximately the same as in the corresponding quarter last year.

- We continue to develop the company and have continued working on our investment program. It is therefore gratifying that we recently could announce that Fosen Yard will build the cages for our offshore aquaculture facility, Arctic Offshore Farming. We are now developing new technology that will contribute to develop the industry further, and create a number of jobs along the coast, says Charles Høstlund.

For more information, please contact:

  • CEO Charles Høstlund, +47 994 18 449
  • CFO Ola Loe, +47 911 79 411.

Norway Royal Salmon in brief

Norway Royal Salmon (NRS) group owns 39 426 tonnes MAB distributed between 34 746 tonnes MAB in Region North located in West Finnmark and Troms and 4 680 tonnes MAB in Region South in the area around Haugesund. In addition, the group has minority interest in three associated Norwegian fish farming companies which together own ten fish farming licenses, as well as Arctic Fish on Iceland. NRS is an attractively positioned fish farming group, which offers salmon to the market through its own sales organisation. For further details, please visit www.norwayroyalsalmon.com.

NRS Q1 2019 Report (pdf)
NRS Q1 2019 Presentation (pdf)

Norway Royal Salmon: Notice to Annual General Meeting

Attached please find the notice to the Annual General Meeting in Norway Royal Salmon ASA (the "Company"), to be held in Trondheim 6(th) June 2019. The notice will be sent to all shareholders by post no later than 10(th) May 2019.

The board of directors proposes a distribution of dividend for 2018 of NOK 6.00 per share, by the way of a cash distribution of NOK 4.20 per share and distribution of shares in the Company from the Company's treasury shares.

The number of shares for distribution in total and per outstanding share will be decided based on the shares' volume weighted average price on the Oslo Stock Exchange five trading days before the general meeting, and will be announced before the day of the annual general meeting. The last day of the valuation period will, due to practical reasons, be 31 (st) May 2019.

Fractional shares will not be distributed. The number of shares each shareholder registered in the VPS will receive will be rounded up to the nearest number of whole shares.

The Company generally does not seek to determine, nor comment on, the tax position of its individual shareholders. The Company will, however, take the position that the distribution of shares does not constitute a distribution of dividends for Norwegian tax law purposes. Accordingly, the Company will not withhold any withholding tax for its non-Norwegian shareholders. Norwegian shareholders' cost price for the shares being distributed is assumed to be zero; however, the Company assumes that the tax authorities will conduct a proportionate adjustment of the cost price for each individual shareholder's aggregate shareholding.

Subject to the resolution being passed by the annual general meeting, the shares will be traded exclusive the right to dividends as of 7 (th) June 2019. The dividends will be paid and the shares will be transferred on or around 17 (th) June 2019.

The annual report and accounts for 2018 were published through a stock exchange release on 30(th) April 2019 and are available on the Company's website.

For further information, please contact:

Ola Loe, CFO: + 47 911 79 411

www.norwayroyalsalmon.com

Notice of Annual General Meeting (pdf)

Norway Royal Salmon: Invitation to presentation of Q1 2019

Norway Royal Salmon will present the interim report for the 1st quarter 2019 on Tuesday 21st May 2019 at hrs 08:00 CET at Hotel Continental, Stortingsgaten 24/26 in Oslo.

The company’s CEO Charles Høstlund and CFO Ola Loe will announce the results.

Please note that the quarterly report and presentation will be published at 06:30 CET.

For further information, please contact:
CFO Ola Loe
Tlf: +47 911 79 411
E-mail:
ola.loe@salmon.no

Mandatory notification of trade - extended TRS agreement

Chair of the Board of Directors in Norway Royal Salmon ASA (“NRS”), Helge Gåsø, has today through Gåsø Næringsutvikling AS extended a TRS (Total Return Swap) agreement with exposure to 250,000 shares in NRS to 19 July 2019. In addition, Gåsø Næringsutvikling AS has entered into an agreement with a contractual right to acquire 250,000 shares in NRS at NOK 193.50 per share. Following this extension, Gåsø Næringsutvikling AS holds and has contractual rights to 7,079,605 shares in NRS, constituting 16.25 percent of the issued share capital.

Key information regarding dividend for Norway Royal Salmon (NRS)

Dividend amount: 6.00 per share. Distributed by way of cash dividend of 4.20 per share and distribution of shares in NRS from the company’s treasury shares.

Declared currency: NOK

Last day including right: 6 June 2019

Ex-date: 7 June 2019

Record date: 11 June 2019

Payment date: on or around 17 June 2019

Date of approval: 6 June 2019

Other information: The number of shares for distribution in total and per outstanding share will be decided based on the shares' volume weighted average price on the Oslo Stock Exchange five trading days before the general meeting, and will be announced at the latest the day of the annual general meeting. The last day of the valuation period will due to practical reasons be 31 May 2019. Fractional shares will not be distributed. The number of shares each shareholder registered in the VPS will receive will be rounded up to the nearest number of whole shares.

For further information, please contact:

Ola Loe, CFO: + 47 911 79 411

Norway Royal Salmon (NRS) – Financial statements for 2018 approved by the board of directors

At a meeting held on 11 April 2019, the board of directors of Norway Royal Salmon ASA has reviewed and approved the financial statements for 2018. 

Final accounts and proposed dividend of NOK 6.00 per share are not altered from preliminary figures published on 12 February 2019. Dividend are distributed by way of cash dividend of NOK 4.20 per share and distribution of shares in NRS from the company’s treasury shares. Should the general meeting resolve to distribute the dividend, shares in Norway Royal Salmon ASA will be traded ex-dividend of NOK 6.00 per share from 7 June 2019.

An electronic version of the Annual Report will be published through Oslo Stock Exchange and www.norwayroyalsalmon.com 30 April 2019. 

The annual general meeting is scheduled to Thursday 6 June 2019 in Trondheim. The notice with attachments will be published through Oslo Stock Exchange and www.norwayroyalsalmon.com

For further information, please contact:

Ola Loe, CFO: + 47 911 79 411

Share-based incentive scheme - Mandatory notification of trade

Payment related to the Group's option program for senior management and key personnel.

Norway Royal Salmon ASA (NRS) has today sold 10,753 own shares at a price of NOK 203.48 per share in connection with the management and key personnel's stock option scheme.

The participants in the stock option scheme have an obligation to buy NRS shares for the calculated bonus amount, at the volume weighted average price for the share in the period from March 6 to March 19, 2019. The average price is NOK 203.48 per share.

Shares in the company have been transferred to the following primary insiders on March 20, 2019:

-          Charles Høstlund received through related parties 1,966 shares

-          Ola Loe received through related parties 1,753 shares

-          Klaus Hatlebrekke received through related parties 1,474 shares

-          Arve Olav Lervåg received 1,373 shares

-          Hanne-Guri Haug received 462 shares

-          Per Magne Bølgen received 576 shares

-          Ingrid Rønning received 189 shares

-          Jan Pål Johannesen received 217 shares

The primary insiders listed below have on March 20, 2019 sold the following number of shares back to NRS to cover the taxable amount for the reception of the above shares:

-          Arve Olav Lervåg sold 686 shares

-          Jan Pål Johannesen sold 108 shares

Norway Royal Salmon ASA (NRS) total repurchase of own shares is 1,507 at a price of NOK 203.48 per share to cover the stock option holder's taxable amounts.

After these transactions, the primary insiders have the following stock holdings:

-          Charles Høstlund holds through related parties 171,298 shares

-          Ola Loe holds through related parties 227,650 shares

-          Klaus Hatlebrekke holds through related parties 141,419 shares

-          Arve Olav Lervåg holds 687 shares

-          Hanne-Guri Haug holds 1,067 shares

-          Per Magne Bølgen holds 1,197 shares

-          Ingrid Rønning holds 4,574 shares

-          Jan Pål Johannesen holds 109 shares

After these transactions, NRS holds 528,961 treasury shares and has contractual rights to 985,756 own shares, constituting 3.48 percent of the issued share capital.

For more information, please contact:

CEO Charles Høstlund, +47 9941 8449

CFO Ola Loe, +47 9117 9411

Share-based incentive scheme - Mandatory notification of trade

Norway Royal Salmon ASA (NRS) today sold 19,747 shares at a price of NOK 203.48 per share in connection with management's synthetic stock option scheme.

The participants in the synthetic stock option scheme have an obligation to buy NRS shares for the paid bonus amount after tax, at the volume weighted average price for the share in the period from March 6 to March 19, 2019. The average price is NOK 203.48 per share.

After this transaction, NRS holds 538,207 treasury shares and has contractual rights to 985,756 own shares, constituting 3.50 percent of the issued share capital.

In connection with the stock option scheme, the following primary insider in NRS bought shares at a price of NOK 203.48 per share:

Charles Høstlund purchased through related parties 19,747 shares. Total holding after the purchase is 169,332 Norway Royal Salmon shares.

For more information, please contact:

CEO Charles Høstlund, +47 9941 8449

CFO Ola Loe, +47 9117 9411.

Mandatory notification of trade – acquired treasury shares and extended TRS agreement

Norway Royal Salmon ASA (“NRS”) has today exercised its contractual right to purchase 500,000 treasury shares at a price of NOK 216.50 per share, while the company has extended a TRS (Total Return Swap) with exposure to the remaining 985,756 shares in NRS to 13 September 2019. In connection with this TRS, NRS has entered into an agreement with the contractual right to acquire 985,756 shares in NRS at NOK 219.460457 per share. Following this transaction and extension of the TRS agreement, NRS holds 557,954 treasury shares and has contractual rights to 985,756 own shares, constituting 3.54 percent of the issued share capital.

For more information, please contact:

CFO Ola Loe, +47 9117 9411.

Norway Royal Salmon: Q4 18 – Highest Operational EBIT in the history of NRS

Today Norway Royal Salmon (NRS) reports an operational EBIT of MNOK 232 for the fourth quarter 2018 and EBIT per kg of NOK 17.73. Corresponding figures for the same quarter last year were MNOK 95 and NOK 15.51.

- Today we report the highest operational EBIT in the history of NRS for both a quarter and a financial year. We are pleased that Region North continues the positive development in production costs, however biological challenges in Region South are reducing the result says CEO Charles Høstlund.

For the financial year of 2018, NRS has operating revenues of more than NOK 5 billion and achieved an operational EBIT of MNOK 642 million. The Board proposes a dividend of NOK 6.00 per share for 2018.

Net operational cash flow amounted to MNOK 130 in the fourth quarter. Net interest-bearing debt decreased in the quarter by MNOK 80 to MNOK 420. The equity at the end of the quarter is MNOK 2 321, which equates an equity ratio of 57 per cent. Return on capital employed for the last four quarters is 37 per cent.

Region North

Region North posted an operational EBIT of MNOK 243.3 in the quarter, compared with MNOK 116.0 in the corresponding quarter last year. Operational EBIT per kg gutted weight was NOK 20.20 compared with NOK 15.84 in the corresponding quarter last year.

Region South

Region South posted an operational EBIT of MNOK 1.0 in the quarter, compared with MNOK 24.4 in the corresponding quarter last year. Operational EBIT per kg gutted weight was NOK 0.60, compared with NOK 14.12 in the corresponding quarter last year.

NRS harvested 13 783 tonnes gutted weight in the quarter, which is 52 per cent higher than in the same quarter last year. 12 042 tonnes of the total volume were harvested in Region North and 1 741 tonnes in Region South. Estimated harvest volume is 38 000 tonnes for 2019, an increase of 6 per cent from 2018. The sales business sold 27 785 tonnes salmon during the quarter, which is 24 per cent higher than the corresponding quarter last year. Both harvested and sold volume is the highest in a quarter in the history of NRS.

- NRS takes an active part in the development of a sustainable aquaculture industry through substantial investments over the next three years. We focus on innovation and technology development to ensure our sustainable growth by investing in a smolt facility and offshore fish farms that will create new local jobs, says Charles Høstlund.

For more information, please contact:

  • CEO Charles Høstlund, +47 994 18 449
  • CFO Ola Loe, +47 911 79 411.

Norway Royal Salmon in brief

Norway Royal Salmon (NRS) group owns 39 426 tonnes MAB distributed between 34 746 tonnes MAB in Region North located in West Finnmark and Troms and 4 680 tonnes MAB in Region South in the area around Haugesund. In addition, the group has minority interest in three associated Norwegian fish farming companies which together own ten fish farming licenses, as well as Arctic Fish on Iceland. NRS is an attractively positioned fish farming group, which offers salmon to the market through its own sales organisation. For further details, please visit www.norwayroyalsalmon.com.

NRS Q4 2018 Report (pdf)
NRS Q4 2018 Presentation (pdf)

Invitation to presentation of Q4 2018

Norway Royal Salmon will present the interim report for the 4thquarter 2018 on Tuesday 12thFebruary 2019 at hrs 08:00 CET at Hotel Continental, Stortingsgaten 24/26 in Oslo.

The company’s CEO Charles Høstlund and CFO Ola Loe will announce the results.

Please note that the quarterly report and presentation will be published at 06:30 CET.

For further information, please contact:
CFO Ola Loe
Tlf: +47 911 79 411
E-mail: ola.loe@salmon.no

Mandatory notification of trade - extended TRS agreement

Chair of the Board of Directors in Norway Royal Salmon ASA (“NRS”), Helge Gåsø, has today through Gåsø Næringsutvikling AS extended a TRS (Total Return Swap) agreement with exposure to 250,000 shares in NRS to 12 April 2019. In addition, Gåsø Næringsutvikling AS has entered into an agreement with contractual right to acquire 250,000 shares in NRS at NOK 185.37 per share. Following this extension, Gåsø Næringsutvikling AS holds and has contractual rights to 7,079,605 shares in NRS, constituting 16.25 percent of the issued share capital.

Q3 18 – Operational EBIT of MNOK 35

Today Norway Royal Salmon (NRS) reports an operational EBIT of MNOK 35 for the third quarter 2018 and EBIT per kg of NOK 22.10. Corresponding figures for the same quarter last year were MNOK 192 and NOK 19.29.

- During the quarter we have focused on building biomass and the biomass in the sea has increased by 71 per cent from the end of the previous quarter. This has resulted in a low harvest volume for the quarter. We have had a positive development in production costs from the previous quarter in Region North, says CEO Charles Høstlund.

Net interest-bearing debt increased in the quarter by MNOK 87 to MNOK 500, after purchase of 800 tonnes MAB and the increase in biomass of 11 927 tonnes. The equity at the end of the quarter is MNOK 2 243, which equates an equity ratio of 55 per cent. Return on capital employed for the last four quarters is 30 per cent.

Region North

Region North posted an operational EBIT of MNOK 53.0 in the quarter, compared with MNOK 155.3 in the corresponding quarter last year. Operational EBIT per kg gutted weight was NOK 22.27 compared with NOK 18.85 in the corresponding quarter last year.

Region South

Region South posted an operational EBIT of MNOK 1.8 in the quarter, compared with MNOK 46.3 in the corresponding quarter last year. Operational EBIT per kg gutted weight was NOK 18.05, compared with NOK 20.91 in the corresponding quarter last year.

NRS harvested 2 478 tonnes gutted weight in the quarter, which is 76 per cent lower than in the same quarter last year. 2 379 tonnes of the total volume were harvested in Region North and 100 tonnes in Region South. Estimated harvest volume is 36 000 tonnes for 2018, an increase of 13 per cent from 2017. Estimated harvest volume is 40 000 tonnes for 2019, an increase of 11 per cent from 2018. 10.8 million smolts are planned released in 2018. The sales business sold 14 945 tonnes salmon during the quarter, which is 33 per cent lower than the corresponding quarter last year.

For more information, please contact:

  • CEO Charles Høstlund, +47 994 18 449
  • CFO Ola Loe, +47 911 79 411.

Norway Royal Salmon in brief

Norway Royal Salmon (NRS) group owns 39 426 tonnes MAB distributed between 34 746 tonnes MAB in Region North located in West Finnmark and Troms and 4 680 tonnes MAB in Region South in the area around Haugesund. In addition, the group has minority interest in three associated Norwegian fish farming companies which together own ten fish farming licenses, as well as Arctic Fish on Iceland. NRS is an attractively positioned fish farming group, which offers salmon to the market through its own sales organisation. For further details, please visit www.norwayroyalsalmon.com.

NRS Q3 2018 Report English (pdf)
NRS Q3 2018 Presentation (pdf)

Invitation to presentation of Q3 2018

Norway Royal Salmon will present the interim report for the 3rdquarter 2018 on Tuesday 6thNovember 2018 at hrs 09:00 CET at Hotel Continental, Stortingsgaten 24/26 in Oslo.

The company’s CEO Charles Høstlund and CFO Ola Loe will announce the results.

Please note that the quarterly report and presentation will be published at 06:30 CET.

For further information, please contact:
CFO Ola Loe
Tlf: +47 911 79 411
E-mail: ola.loe@salmon.no

Invitation to presentation of Q4 2017

Norway Royal Salmon will present the interim report for the 4thquarter 2017 on Tuesday 13thFebruary 2018 at hrs 08:00 CET at Hotel Continental, Stortingsgaten 24/26 in Oslo.

The company’s CEO Charles Høstlund and CFO Ola Loe will announce the results.

Please note that the quarterly report and presentation will be published at 06:30 CET.

For further information, please contact:
CFO Ola Loe
Tlf: +47 911 79 411
E-mail: ola.loe@salmon.no

The prerequisite for good corporate governance is a clear and transparent relationship between owners, the board of directors and management. Good corporate governance will instil confidence and trust among all interested parties and will provide a firm basis on which to create value and good results. Good corporate governance is important to Norway Royal Salmon (“NRS” or the “Company”) and the Company’s principles of corporate governance have been drawn up in accordance with the Norwegian Code of Practice for Corporate Governance.

Business
The Company’s object is to engage in the production, processing, trading and distribution of seafood, and participate in other companies associated with the seafood industry. The Company’s further object is to engage in quality assurance and chain management for partner companies.

The Company’s core value is the fundamental belief that better results can be achieved both for companies and for the local community if companies are involved in the community and if they exercise authority and leadership.

The following strategic key points have been adopted by the board of directors:

  • NRS shall be an efficient and profitable aquaculture company.
  • NRS shall rune an effective and profitable sales organisation.
  • NRS shall provide a competitive return on investment to its shareholders.
  • NRS shall offer affiliated producers economies of scale with respect to sales, procurement, quality assurance an other imoportant services.
  • NRS wishes to be a shareholder in companies associated with aquaculture industry.

Equity and dividends
The Company shall maintain a level of equity appropriate to the Company’s objectives, strategy and risk profile. The Company’s aim is for shareholder returns to reflect the value created by the Company and convert into dividends, as well as an increased share price. Dividends shall remain stable over time and shall make up 30-40% of the group’s net profit, provided that the Company’s own capital requirements have been met. Over time, monetary value shall be created by way of share price rises rather than paid-out dividends.


Equal treatment of shareholders and freely negotiable shares

It is the Company’s policy to treat all shareholders equally. Shareholders shall not be subjected to differential treatment without basis in the Company or the shareholders’ commonality of interest. The Company’s shares are freely negotiable and there are no restrictions on the purchase and sale of the Company’s shares beyond that which follows from Norwegian law. All shares belong to a single class, and each share has one vote at the Company’s general meetings.

General Meeting
An ordinary annual general meeting shall be held within six months of the end of each financial year. Extraordinary general meetings may be called by the board of directors at any time.

All shareholders shall receive a written invitation to attend the general meeting. Motions and necessary background information along with documents to be produced at the general meeting shall be made available on the Company’s website no later than 21 days before the general meeting. Shareholders who are unable to attend may vote by proxy.

The general meeting shall elect members to the board of directors, set the level of remuneration of board members, adopt the annual accounts and board of directors report and consider any other matters pertaining to the general meeting according to laws or regulations. The chairman of the board of directors, the management and the auditor shall attend the ordinary general meeting.

Nomination committee
The Company’s nomination committee comprises three members elected by the general meeting for two year at a time. The nomination committee shall put forward proposals to the general meeting on the election of members and deputy members to the board of directors. The recommendation fore the chair of the board is given separately.Their proposals shall be justified. The nomination committee shall give a recommendiaton for the remuneration for the members of the board of directors.

Composition and independence of the board of directors
The composition of the board of directors is designed to protect the common interests of the shareholders and the Company’s need for expertise, capacity and diversity. The board of directors shall be composed in such a way that it can act independently of special interests. Executive staff, and material business contacts and at least two of the members elected by the shareholders shall be independent of the Company’s main shareholders.
Members of the board of directors shall be elected for a period of two years at a time.

The work of the board of directors
The board of directors has the overall responsibility for the management of the Company. The chief executive shall be elected by the board of directors and shall have a duty to report to the board. A separate set of instructions for the board of directors defines the cases to be considered by the board of directors and its areas of responsibility, along with the responsibilities of the chief executive.

Risk management and internal controls
Efficient management focusing on risk and good internal controls is an overarching criterion for the success of NRS and forms an integrated part of its business operations. The ability to plan, structure, implement and evaluate projects is an important part of the business. The Company is governed according to set financial targets. Reporting takes place on a monthly basis and includes both financial and non-financial parameters. Focus is on profitability and risk linked to each area of business. Emphasis is placed on following up results, and focus is directed towards measures in areas that are not achieving the desired level of growth. The aim of risk management and internal controls is to handle risks linked to the business and to improve the quality of financial reporting. Effective risk management and internal controls help protect the shareholders’ investments and the Company’s assets. The board of directors believes NRS has effective internal controls and a level of risk management appropriate to the business.

Remuneration of the board of directors
Remuneration of the board of directors shall reflect the board’s responsibilities, expertise and time use, as well as the complexity of the business. Remuneration shall not be linked to financial results. Options shall not be issued to members of the board of directors. Remuneration shall be set by the general meeting based on recommendiation of the nomination committee. Further information about remuneration of the board of directors is given in the notes to the annual accounts.

Remuneration of executive staff
Remuneration of the chief executive shall be set by the board of directors. The remuneration comprises a fixed salary and a variable part (bonus), which is dependent on achieving set goals.

Information and communication
NRS shall ensure that all shareholders receive accurate, clear, relevant and timely information concerning all matters of financial importance to the shareholders. Financial information is published on NRS’ website and in press releases. The annual report and quarterly reports are published in both Norwegian and English.

Takeovers
In the event of a takeover bid, the board of directors shall not seek to prevent or obstruct such a bid being made for the Company’s business or shares, unless there are particular grounds for doing so. If a bid is made for the Company’s shares, the board of directors shall issue a statement with an assessment of the bid and a recommendation as to whether or not shareholders should accept it. The board of directors’ statement will specify whether the assessment was unanimous.

Auditor
The auditor shall participate in board meetings at which the annual accounts are being discussed. Each year the auditor shall present a main outline of the auditing of the Company to the board of directors.


Board
Management
  • Helge Gåsø

    (1961), Chair

    Helge Gåsø has extensive experience of the build-up, operation and development of fish farming businesses. He took part in building up Frøya Fiskeindustri, subsequently Hydro Seafood and Midnor Havbruk. He resides Hamarvik, Frøya in Norway.

  • Kristine Landmark

    (1954), Vice Chair

    Kristine Landmark holds a Master degree in Economics and Business Administration from the Norwegian School of Economics and Business Administration (NHH). She is the CEO of Slettvoll Møbler AS. She has extensive experience from the Stokke Group, where she was employed in the period 1989-2010, and served as CEO in the period 2004-2010. Ms. Landmark holds a number of directorships. She resides in Ålesund Norway.


  • Lars Måsøval

    (1979), Board member

    Lars Måsøval is educated within aquaculture. He has extensive experience from the fish farming industry through various positions in his family-owned business. He is the Chair of the Board and one of the main shareholders of the Måsøval Group, which has its own hatchery and operate nine fish farming licenses. He resides on Frøya, Norway.

  • Marianne E. Johnsen

    (1963), Board member

    Marianne E. Johnsen graduated as a lawyer from University of Oslo before obtaining an MBA from Solvay Business School in Brussels. She is the founder and managing partner of X-lence Group AS, a management consulting and investment company. She has extensive experience from international executive positions, from among others Elkem, and holds a number of directorships in publicly listed companies. She resides in Oslo Norway.

  • Jon Hindar

    Board member

    Jon Hindar holds a MSc in Chemical Engineering (NTNU) and has Management Education from IMD Lausanne. He has held executive positions in several major companies and has been CEO in Cermaq, Norsun and Biotech AS. He holds and has held a number of directorships in larger companies.

  • Trude Olafsen

    (1963), Board member

    Trude Olafsen is graduated Cand. Agric. within aquaculture from the Norwegian University of Life Sciences. She is employed in AKVA Group with the responsibility for business development. She has worked in various organizations in the seafood industry and within research/consulting, in addition to have held several elected positions in the industry. She resides in Trondheim, Norway.

  • Charles Høstlund

    (1975), CEO

    Charles Høstlund has a Master’s degree in fish health from the Norwegian College of Fishery Science and a MBA in Financial control and management from the Norwegian School of Economics. He has previously worked as Regional Director of Marine Harvest Norway Northern Region. He joined Norway Royal Salmon in september 2014. He resides in Drøbak, Norway.

  • Ola Loe

    (1966), CFO

    Ola Loe is a Certified Public Accountant from the Norwegian School of Economics and Business Administration (NHH). Prior to joining Norway Royal Salmon in 2009, he worked as a senior manager at KPMG and as group auditor for Cermaq, Norway Pelagic, Fjord Seafood and Midnor Group. Mr. Loe is a Norwegian citizen and resides in Trondheim, Norway.

  • Klaus Hatlebrekke

    (1974), COO Markets and Business Development

    Mr. Hatlebrekke has during the past ten years been working as an analyst of the seafood sector at DNB Markets. Mr. Hatlebrekke holds a Master degree in Business and Economics from Norwegian School of Management. He joined NRS in April 2012 and resides in Trondheim, Norway.

  • John Gunnar Grindskar

    (1970), COO Farming


Election Committee
  • Endre Glastad

    Leader, e-mail: endre@glastad.no


  • Karl Olaf Jørgensen

    Member


  • Anne Breiby

    Member


1. はじめに

1.1 本指針(以下、「本指針」)は、Norway Royal Salmon ASA経営委員会 (以下、「会社」」)が定めた指針です。

1.2 本指針の目的は、社員の健康的な職場環境を保持するとともに、社員が業務を遂行する上でガイダンスとなるような基準を定めて会社の倫理を推進することです。本指針はさらには、社員一人ひとりが倫理について自省し、会社の倫理を高めるための指針としての目的を有しています。

1.3 本指針は、会社統制下にある各部署、社員、取締役(以下、「社員」)に適用されます。全社員は、本指針をよく読み、熟知する必要があります。本指針について、質問等がある場合、担当部署に連絡します。当該質問等は、所属のマネージャー、執行役員/取締役(以下、「取締役」)に連絡します。

1.4 社員は全員、本指針を厳守しなければなりません。各部署のマネージャーは、社員および各部署の職務に適用される本指針を実行する責務を負います。

1.5  本指針に違反した社員は、解雇など懲罰処分の対象となります。   

2. 倫理基準


2.1 社員は、本指針に基づき、業務遂行上および個人の行動において最高水準の倫理を遵守します。他の社員、取引先、顧客、一般の人々、業界の人々、株主、サプライヤー、競合他社、政府機関に誠実に接し、誠実に行動します。

2.2 会社を代表して業務に当たる場合、他人の誘導、機密情報の開示、専有情報の誤用、重要事項の虚偽、その他の不正行為などで不当利益を得ようとする行為は禁じます。

2.3 民族、国籍、年齢、性別、宗教の差異を理由として、社員、株主、取締役、顧客、サプライヤーに対する違法な差別は禁じます。社員は、威厳と敬意をもった待遇を受けるものとし、業務遂行上での不当な取り扱いは禁じます。

2.4 会社に対する不忠な行為は禁じます。適用される法律、会社内部の規則、指針に反して、利益を追求することはできません。

3. ベストプラクティス


3.1  会社の価値観

3.1.1 会社は、会社と地域社会との関係において、会社が地域社会にそのコミットメント、意思決定に関わる仕組みを公開することで、良い結果を得ることができるものと確信しています。

3.1.2 会社は、健全な業務執行、厳格な社内規則、適正な解決方法の優先順位付け、予見性の高い供給、高水準のサービスを通じて信頼の置けるパートナーであるよう努めています。

3.1.3 会社は、あらゆる事業において有効的なアプローチを図っています。すなわち、会社は、迅速な業務執行、意思決定をします。その際には、事実に基づいてそれらを行い、変更等があればそれ受け入れ、新たな課題にも対応し、何事にも果敢な姿勢で臨みます。

3.1.4 会社は、プロ意識、ベストプラクティスが要となる生産、商品開発、マネジメントにおいて社員のスキルを活用、育成します。

3.2 法律、規則

3.2.1 社員は、会社業務に関わる法律、規則を遵守します。社員は、そのような法律、規則に従って、各種の業務指示、規制事項を遵守します。

3.3 健康、安全、環境

3.3.1 会社の事業活動は、社員、顧客、一般の人々の健康と安全を守るような方法で運営します。また、健康、安全、環境を統制する法律、規則に従って、社員、会社財産、環境を保護します。社員は、本指針を遵守して行動する必要があります。本指針違反の発見または疑いは直ちに報告する必要があります。

3.3.2 会社は、プロ意識、協力精神のある職場づくりを進めます。

3.3.3 社員は、宗教、肌の色、性的指向、年齢、国籍、人種、障害を理由として差別のない職場づくりに努めます。

3.3.4 会社は、他人を侮辱する、または脅威を与えるような行為を禁じます。

3.4 顧客、サプライヤー、競合他社との関係

3.4.1 顧客には教養、敬意、理解をもって接します。

3.4.2 サプライヤーには誠実さとプロ意識をもって接します。

3.4.3 会社は、内外の市場で公正かつ透明性のある競争をします。いかなる場合においても、会社、社員は、適用される競争関連法に違反するような行為はしません。特定の取引で独占禁止法に反するような行為、または疑いのある行為について疑義を有する社員は、所属のマネージャー、執行役員、取締役に報告します。

3.4.4 会社は、いかなる形での腐敗行為(贈収賄、違法勧誘など)を固く禁じます。社員は、業務上また個人的に不当利益を得るために、直接的にも間接的にも賄賂、違法な贈答品、その他の不当な利益、報酬を約束、授受してはなりません。

3.5 マネーロンダリング

3.5.1 会社は、いかなる形でのマネーロンダリングを固く禁じます。会社は、マネーロンダリングに利用されるような金融取引を防止する対策を講じます。適用されるマネーロンダリング防止法違反の疑いをもった社員は、所属のマネージャー、執行役員、取締役に報告します。

3.6  忠誠心、利害の衝突

3.6.1 社員は会社に忠誠心をもって業務に携わるものとし、割り当てられた業務を客観的、効果的に遂行する際の妨げとなるような行為はしません。

3.6.2 社員は、会社の業務に直接的、間接的に利害の衝突があることを知った場合は、所属のマネージャー、執行役員、取締役にその旨を報告します。

3.6.3 利害の衝突は回避しなければなりません。利害の衝突が発生した場合、社員はその状況についてよく判断し、その利害の衝突を所属のマネージャー、執行役員、取締役にその旨を報告します。利害の衝突は状況的に見て、顧客、サプライヤー、現在または将来の社員等に関わって発生します。

3.6.4 社員は、機会あるごとに会社の合法的な利益を上げることを約束します。社員は、業務に関して、会社の財産、情報、地位を利用して個人的な利得を得ようとしてはなりません。

3.7  守秘義務

3.7.1 社員は、会社の機密情報を保護する義務があります。社員は、会社業務、顧客、サプライヤーに関わる守秘義務に従って、機密情報を利用できる場合があります。守秘義務に属する情報とは、会社の業務、財務とその予測、見込のある取引など一般に公開されていないものを指します。社員は、雇用期間中および雇用関係終了後においても、当該情報に関わる守秘義務を有するものとし、職務上での使用以外で、当該情報を使用する、または他者に開示することはできません。機密情報が許可なく開示された場合、その行為は会社、該当社員にとって深刻な結果をもたらすことになります。

3.7.2 個人情報の場合、それが顧客、社員、その他の者にかかわるか否かにかかわず、会社は、法規に従って、個人情報および個人情報とみなされる情報を注意と配慮をもって取り扱います。個人情報の使用については、業務遂行、効率的な顧客サービス、マーケティング、人事管理のために必要な場合に限り許容されます。

3.8 会社財産の適正使用

会社の財産は、許可された社員またはその被指定者による業務の執行のみ使用することができます。この定めは、有形財産(オフィス機器、電話、コピー機など)と無形財産(企業秘密、その他の守秘義務対象情報)の双方に適用されます。社員は、会社の財産が盗難、損失の被害にあわないよう財産を保護し、また、それら財産の効率的な使用を徹底します。会社の財産の盗難、不注意による損傷、廃棄は、会社の収益に直接的な影響を及ぼします。会社財産の盗難、廃棄、誤用を知った社員は、その旨を所属のマネージャーまたは取締役に報告します。

3.9  薬品、アルコール飲料

会社敷地内での統制薬品の違法な使用、販売、譲渡、所有、服用は、所定の医療的目的以外は、これを禁じます。また、会社敷地内でのアルコール飲料の摂取、販売、譲渡、所有は、会社の許可がない場合、これを禁じます。会社は、本指針の下、統制薬品、アルコール飲料に関する法規を遵守します。

3.10 社外連絡

会社情報に関するメディア、アナリスト、投資家等との連絡は、会社が特別に指定した社員のみが対応できます。政府機関、監督機関からの問い合わせは、該当するマネージャーに送致します。メディアとの接触をもった社員は、会社業務について噂や憶測を基にメディアに対して発言をしてはなりません。

3.11 株式取引

3.11.1  社員およびその家族は、会社の株式および会社の顧客、サプライヤー、パートナーの株式の内部情報を基に当該株式、その他の証券を購入、売却、または取引について助言をすることはできません。

3.11.2 内部情報は、会社の株価またはその他の上場株式の株価に大きな影響を与えます。社員は、自らが内部情報にアクセスできる職責にあるのかどうかについて不明な場合は、所属のマネージャーまたは内部情報を担当する部署に確認するか、状況に応じて、法律顧問に助言を求めます。

3.11.3 取締役、執行役員、特定の社員は、内部情報に関する会社の規則により、さらなる要件が課せられます。

3.12 正確な文書

3.12.1  業務関連文書、財務関連文書、領収書、請求書、給与明細、サービス記録、公的機関への報告書、その他の文書は事実に基づいて記載します。

3.13  会社の財務関連書類は、注意力と誠実さをもって記録するものとし、会社の取引を正確に記載します。すべての財産は、会社が策定した手順によって記録します。いかなる目的でも、秘匿または未許可の資金、財産を保有することはできません。

3.14 会社の会計担当者は、会社指定の外部監査人と取締役会に彼らが要求する情報を提供します。社員は、会社の財務書類を監査する外部監査人に影響を与える、強要する、誘導する、錯誤させるような行為をしてはならないとし、また他者にそのような行為をさせてはなりません。加えて、社員は、財務書類、会計書類について外部監査人に錯誤させるため、誤った記載を訂正しないというようなことはできません。   

4. 指針違反の報告


社員は、本指針が別途定める場合を除き、本指針違反の疑いをもった場合、それを所属のマネージャー、執行役員、取締役に報告します。マネージャーが関与する違反は、直接取締役に報告します。本指針違反の報告を受けたマネージャーは、取締役と協議の上、その違反事項に対応します。本指針違反の報告を行う社員が匿名を希望した場合、当該社員の身元が明らかにならないよう万全の措置を講じます。本指針に関する問い合わせは慎重に扱うものとし、違反報告については、状況に応じて綿密な調査を行います。違反事項等を善意で報告した社員に対する報復が行われないよう、会社は万全の措置を講じるとともに会社自体も当該社員に報復しません。