Last summer, one of the giants’ matches in the aquaculture industry occurred when both NTS and Salmar wanted to buy Norway’s Royal Salmon. At most, Norwegian Royal Salmon (NRS) was priced at more than NOK 11 billion after increasing prices from NOK 170 to NOK 275 – equivalent to more than 60 percent – in just one month.
Among those who personally got a significant portion of the money, and made the most of the price increase, was the NRS management. They marked the first list at 275 kroner at the end of August, and CFO Ola Loe came in at its best with a total sale of more than 66 million kroner. This was then followed by business developer Klaus Huttlebrick, who at the time emptied a VPS account with more than 150,000 NRS shares. She gave 41 million kroner – much of it was pure profit.
Then-CEO Charles Hustlund sold shares for 6.6 million shares.
NTS eventually won the battle of the NRS, but it didn’t take over the entire company. Instead, NRS ended up with about two-thirds of NRS shares, and the company is still listed on the stock exchange.
This fall, Høstlund chose to continue on the day the next round of merger with NTS and Salmonor began. The rest of the NRS management chose to stay, and on Thursday announced they would be joining the company as shareholders again.
Back as contributors
After the stock exchange closed on Thursday, NRS reported that more members of senior management were buying shares in the company — but this time at significantly lower prices than they sold last summer.
Haltebrekke buys 10,000 shares for NOK 158 per share, which means he spends approximately NOK 1.6 million on his employer.
– I think the future of NRS is exciting. We have a good market, and realizing the investments made by NRS, as well as the merger between NRS and Salmonor, gives us great potential in the coming years. I want to be a part of this, Huttlebrick reported to DN.
He referred to the news earlier this week, when NRS and Salmonor finally merged, forming the sixth largest aquaculture company in the world. Salmonor was also owned by NTS.
Met the former analyst before
It has now been a little over ten years since NRS appointed Huttlebrick in December 2011. The Trondheim-based fish farming company managed to take Huttelbrick at that time after he had pursued an equally long career as a stock analyst at DNB Markets.
Huttelbrick didn’t spend much time buying shares in the company he worked for, and in less than a year he amassed 65,000 shares in NRS. He earned for these courses about ten crowns.
– It’s true that this week’s stock purchases are the first we’ve made after last summer’s bidding campaign, says Huttelbrecke, who now explains the stock sale at that time in the following way:
– You never know what happens in such matches, and I thought the price at that time was reasonable to sell at.(Conditions)Copyright Dagens Næringsliv AS and/or our suppliers. We would like you to share our cases using a link that leads directly to our pages. All or part of the Content may not be copied or otherwise used with written permission or as permitted by law. For additional terms look here.
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