Miami, Florida, April 30, 2026
Please find the audited 2025 Annual Report for Atlantic Sapphire ASA (the
"Company" and together with its consolidated subsidiaries, the "Group")
attached, integrated with the 2025 ESG Report, as approved by the Board of
Directors of the Company today. Further, the 2025 remuneration report will be
made available on the Company's webpage shortly.
As earlier announced, the Company invites investors and analysts to a webcast on
Monday 4 May at 16:00 CEST (10:00 a.m. EST) to present the results. The webcast
can be accessed via the following link: https://bit.ly/4vUleCu.
The company publishes its annual financial statements also in European Single
Electronic Format (ESEF), available in a zip file as an attachment to this
release.
The consolidated financial statement and the parent company's financial
statement have been prepared on the assumption of going concern. This assumption
is based on the current market outlook, financial forecasts and the Group's
planned capital raise during 2026. As the going concern statement is conditional
upon a planned capital raise in 2026, material uncertainty over the Group's
ability to continue operations exists and therefore the report of the Company's
auditor on the consolidated financial statement and the parent company's
financial statement includes a specification on material uncertainty on
continued operations (financial situation), see also the Norwegian Financial
Supervision Act Section 3-3 (2) and the Norwegian Securities Trading Act Section
5-5 (7).
Subsequent events
- On 27 March 2026, the Company announced that it had entered into a short-term
bridge loan agreement with the Investor Group (as defined below) for an
aggregate amount of up to USD 10 million (the "Bridge Loan"), all of which has
now been disbursed to the Company. Although the Company expects to be able to
secure long-term financing, it should be noted that no binding agreement has
been entered into at this time.
Update on refinancing process:
Reference is made to the stock exchange notices released by Atlantic Sapphire on
February 6, 2026, March 23, 2026 and March 27, 2026 regarding the Company's
financing situation.
As previously disclosed, the Company's board and its advisors have been in
discussions with the Company's largest shareholders and convertible loan holders
(the "Investor Group") to secure the necessary liquidity and establish a
long-term capital structure for the Company. These discussions are ongoing and
continue to progress positively