Grieg Seafood has experienced acute mortality at two of its BC locations in the Jervis Inlet following harmful algal blooms (HAB) in the area. Total mortality is estimated to 250,000 fish or approximately 1,000 tons. This represents some 50 percent of the total biomass from the two locations.

Grieg Seafood continuously works to improve biosecurity and all of Grieg Seafood's sites perform algal monitoring by taking daily samples which are analyzed using advanced image analysis techniques. This allows for the identification of the species, prevalence and depth distribution of any algae present.

The HAB in Jervis consisted of Heterosigma, a species of microscopic algae that cause acute mortality in fish. Due to extraordinarily high concentration and spread throughout the entire water column, use of Aeration treatments or other protective measures could not prevent the incident.

Grieg Seafood has insurances covering such incidents, and estimated costs including individual share of insurance are limited to NOK 25 million. The costs will be charged the Q2 2018 results.

The fish affected was scheduled to be harvested in the second half of 2018.

Contact information
Andreas Kvame, CEO, tel: +47 907 71 441
Atle Harald Sandtorv, CFO, tel +47 908 45 252

About Grieg Seafood
Grieg Seafood ASA is one of the world's leading fish farming companies, specializing in Atlantic salmon. We have an annual production capacity of more than 90.000 tons gutted weight.

The Group is today present in Norway, British Columbia (Canada) and in Shetland (UK), employing approximately 700 people. Grieg Seafood ASA was listed at the Oslo Stock Exchange (OSEBX) in June 2007. Our headquarters are located in Bergen, Norway. The business development of Grieg Seafood ASA focuses on profitable growth, sustainable use of resources and being the preferred supplier to selected customers.

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



This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Grieg Seafood ASA via Globenewswire