Vard Holdings says Aker BioMarine contract's value is 750m kroner

VARD Holdings on Monday morning responded to queries by the Singapore Exchange (SGX), saying that the value of the contract for the design and construction of a krill fishing vessel for Aker BioMarine is roughly 750 million kroner (S$127.4 million).

The contract, announced by Vard on Feb 14, is subject to certain conditions, including customary financing conditions and SGX had asked what these terms were.

In its reply on Monday, the company said: "The contract is subjected to the buyer obtaining suitable financing, approval from its board of directors, and reaching a satisfactory technical and commercial solution for the krill process plant to be installed on the vessel."

It added that the contract is entered into in the ordinary course of business of the company, and is not estimated to have any material impact on its financial accounts.