Sprucegrove cuts Bakkafrost stake below 5% threshold

Sprucegrove Investment Management has reduced its beneficial holding in Bakkafrost P/F, triggering a substantial shareholding disclosure on the Oslo Stock Exchange. As of November 19, 2025, Sprucegrove's aggregate holding now stands at 2,904,411 shares, representing 4.91% of Bakkafrost's total shares outstanding. This marks a decrease from their previously disclosed position of 5.05% on September 17, 2025.

The circumstance that triggered this disclosure obligation was identified as "Redemptions for client accounts." Sprucegrove Investment Management confirmed that the shares are held beneficially in client accounts which it manages. The notification explicitly states that Sprucegrove does not hold any rights to shares, nor does it hold any percentage of votes or shares in the form of rights to shares.