Cermaq ASA : Statement from the Board regarding the decision on the Copeinca transaction
May 21 2013 - 8:13AM
In connection to the decision of the Annual
General Meeting not providing the necessary support to the
financing of the Copeinca-transaction the chair of Cermaq's Board
of Directors, Mr. Bård Mikkelsen, has issued the following
statement:
"The board notes that the general meeting has not
provided the necessary support for the proposal on the financing of
the Copeinca transaction. At the same time 62.5 percent of the
shareholders voted in favour of the financing, demonstrating that a
significant majority of the company's shares supports the
acquisition of Copeinca. Today Cermaq holds almost 20 percent
of the shares in Copeinca, and the board will now evaluate
alternative courses of action for Cermaq's further engagement in
Copeinca.
The Board notes that a not insignificant part of
our shareholders has voted against the rights issue related to the
Copeinca transaction. Based on what the board and the management
have learned from discussions with shareholders before the general
meeting, this voting is more a general expression of the desire to
create an opportunity for an offer on all shares in the company
than an opposition against the Copeinca transaction as such. The
Board will take this into account in its considerations of
strategic alternatives, and in particular related to the importance
of better visibility of the underlying values of Cermaq.
The Board expects that Marine Harvest now will
present an offer for the shares in Cermaq. Marine Harvest has
communicated that such an offer will have a higher price than what
has been stated. The Board will thoroughly assess potential
higher offers which reflect the underlying values of the company
and has a structure which aims to get a broad support from Cermaq's
shareholders."
Further information - please
contact:
Jon Hindar, CEO, phone: +47 23 68 50 10, mobile: + 47 977
48 829
This information is subject of the disclosure requirements pursuant
to section 5-12 of the Norwegian Securities Trading Act.
This
announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the
information contained therein.
Source: Cermaq ASA via Thomson Reuters ONE
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