October 2, 2022

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NTS Group of Shareholders will select Helge Gåsø as Board Member - E24

NTS Group of Shareholders will select Helge Gåsø as Board Member – E24

Gåsø is the largest shareholder in the Oslo aquaculture group Borz, where a power struggle is now raging.

Illustrative image. The market capitalization of the NTS salmon giant is 13.6 billion NOK.

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The NTS shareholder group, which represents more than 50 percent of the shares and will buy the rest, had previously submitted a request to hold an extraordinary general meeting on January 21 to elect new board members.

in a Notice On Tuesday evening, it appeared that the group of shareholders, including contributors Nils Wiliksen, Terboli Invest as and Rodo Invest as, had made the following Board of Directors proposals:

  • Hans-Martin Storow (New Chairman of the Board of Directors)
  • Nils Martin Williksen (Vice President)
  • Vibek Bondo
  • Roald Dolmen
  • Solvår Hallesdatter Hardesty (New Board Member)
  • Harvard Magni Jacobsen (New Board Member)
  • Suneva Nikolaisen

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He will change the chairman of the board of directors

This means the group of shareholders wants to get rid of current board members Helge Gåsø and Anders Gåsø, as well as replace Chairman Odd Reidar Øie. The latter was appointed chairman of the board of directors in May last year.

Helge Gåsø is NTS’s largest owner through Gåsø Næringsutvikling, which holds a 37 percent stake. Anders Gusso is his son.

The group of shareholders has previously stated that through the offer it will “protect and further develop the values ​​of the shares”, and that they will “continue to explore alternatives” for shareholders in the future – including the opportunity to sell the shares.

Shareholders wrote that they also wanted to “improve corporate governance” when plans for the offering were announced earlier this week.

This week, E24 was in contact with several representatives of the contributor group, but no one wanted to elaborate on the criticism further.

The fact that the group already controls more than 50 per cent of the shares means that it has a so-called ordinary majority and is therefore free to implement required changes in the board of directors.

NTS has controlling ownership positions in two listed companies, Norway’s Royal Salmon and Frøy Wellboat Company.

– Definitely more buyers there

Pareto analyst Carl-Emil Kjølås Johannessen has predicted a bidding war on the NTS, but believes such a scenario depends on what Gåsø chooses to do.

Gåsø’s contribution is estimated at 4.9 billion NOK. He worked as a boat well owner after an agricultural bankruptcy in 2003.

Johanssen believes that if Gåsø doesn’t want to sell, it’s hard to imagine a big player coming in and buying the group’s shares.

– If they can buy postage to Gåsø, there are definitely more buyers out there, he thinks.

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