Aqua Bio Technology files NOK 75m insurance claim after audit findings

Aqua Bio Technology ASA has submitted a claim of NOK 75.0 million under its directors' and officers' liability insurance. This amount represents the maximum permissible under the coverage for losses linked to transactions and dispositions made by previous management. The claim follows disclosures in an April 28, 2025 stock exchange announcement regarding crucial findings during the 2024 audit.

The losses primarily stem from the acquisitions of Skinteam Norge AS, Cover Brands AS, 3D Innovation Nordic AS, Ovalen AS, and Cosmed Beauty AS, as well as lease agreements with Sørlandsparken Invest AS. All these entities have either been sold or had their agreements reversed as part of ABTEC’s ongoing restructuring efforts.

ABTEC is a technology and distribution group specializing in skincare and non-food products, offering B2C and B2B distribution, freight, customs, and logistics services. The group also develops sustainable biotechnology for skincare products and is listed on Euronext Expand Oslo.