Note 12 2015 - Havfisk ASA

HAVFISK's share capital as of 31/12/2015 comprised 84,646,016 shares each with a par value of NOK 5.
The company has 47,725 treasury shares, and the outstanding number of shares is 84,598,291. All shares have equal voting rights.

Overview of the 20 largest shareholders as of 31/12/2015
Name						Number of shares	Shareholding
AKER CAPITAL AS						62 001 793	73,25%
FAUSKEN INVEST AS						1 026 632	1,21%
STOREBRAND VERDI						871 004	1,03%
SES AS						825 000	0,97%
DELPHI NORGE						700 000	0,83%
ARCTIC FUNDS PLC						600 000	0,71%
TOLUMA NORDEN AS						550 000	0,65%
VPF NORDEA AVKASTNIN						532 000	0,63%
HOLBERG NORGE VERDIP						520 000	0,61%
VPF NORDEA KAPITAL						508 511	0,60%
NORDLAKS HOLDING AS						500 000	0,59%
DNB NOR MARKETS, AKS						497 024	0,59%
VERDIPAPIRFONDET DNB						490 000	0,58%
DANSKE INVEST NORGE						400 000	0,47%
THE BANK OF NEW YORK						355 834	0,42%
BIRKELAND ODD KNUT						341 000	0,40%
HOLDEN JIM ØYSTEIN						306 364	0,36%
VERDIPAPIRFONDET HOL						290 000	0,34%
JAH AS						277 682	0,33%
NORDEA BANK NORGE AS						250 000	0,30%
Others						12 803 172	15,13%
Total						84 646 016	100,0 %

The change in equity in 2015 was as follows:
NOK 1,000	Share capital	Treasury shares	Share premium	Other paid-in equity	Total paid-in capital	Total retained equity	Total equity
Equity as of 1 January	423 230	(1 486)	69 829	173 127	664 700	48 707	713 407
Share issue	-			-	-		-
Currency derivatives rec. dir. in eq.					-	999	999
Dividends paid				(63 449)	(63 449)		(63 449)
Provision for dividend				(77 192)	(77 192)	(49 706)	(126 898)
Net profit/loss for the year				(157)	(157)		(157)
Equity as of 31 December	423 230	(1 486)	69 829	32 329	523 902	-	523 902

Long-term interest-bearing loans relate to liabilities taken out in Norwegian and foreign currency as follows:
NOK 1,000		Currency amount	2015	2014
Long-term interest-bearing liabilities to third parties in NOK			1 133 610	1 209 253
			-	-
Sum			1 133 610	1 209 253
In 2015 ordinary repayments of liabilities totalling NOK 78 million were made.

Specification of current interest-bearing liabilities:
NOK 1,000			2015	2014
Current liabilities to credit institutions			39 286
Current portion of long-term interest-bearing liabilities			78 000	78 000
Total			117 286	78 000

Long-term interest-bearing liabilities allocated by type of loan are due for repayment as follows:
NOK 1,000	Financial leasing	Liabilities to credit inst./others /andre	Liabilities in the group	Total
2016		(78 000)		(78 000)
2017		(78 000)		(78 000)
2018		(1 052 810)		(1 052 810)
2019		(2 800)		(2 800)
After 2019			-	-
Total	-	(1 211 610)	-	(1 211 610)
The company issues cross-guarantees for other Group companies.
Interest terms are in line with market terms. The average interest on liabilities due to credit institutions at year end was 3/6 months Nibor +1.65 %.
The loan agreement imposes minimum equity requirements and various earnings requirements on HAVFISK.
This also governs how great a margin is paid on the company's mortgage liabilities.

The following list shows the difference between the accounting and tax-written-down values at the end of 2015 and 2014, changes in these differences, as well as deferred tax liabilities at the end of 2015 and 2014 and the change in deferred tax.
NOK 1,000	2015	2014	Change
Fixed assets/ property, plant and equipment	(263)	(49)	(214)
Financial instruments	-	-	-
Other differences	23	28	(5)
Pensions	(5 950)	(6 084)	134
Temporary differences	(6 190)	(6 105)	(85)
Cumulative tax loss carryforward		(25 410)	25 410
Deferred tax basis	(6 190)	(31 515)	25 325
Net deferred tax liabilities/assets 27%/25%	(1 548)	(8 509)	6 962
The tax expense in shown in Note 6.

Note 12