Cermaq ASA : Voluntary offer for all shares in Copeinca will not be completed; Positive towards other structural solutions fo...
May 23 2013 - 10:26AM
Based on the outcome of the annual general meeting
on 21st May 2013,
the Board of Directors of Cermaq ASA has today decided that the
voluntary offer on all shares in Copeinca, which was announced
5th April, will
not be completed. At the same time the Board decided not to accept
the present voluntary offer from China Fishery Group. Cermaq
supports the Board of Copeinca exploring value creating solutions
for the company's shareholders.
Through several years, Cermaq has contributed to
consolidation within the fish farming industry and still wishes to
have an active role in such value creating processes. The Board
notes the communication from Marine Harvest ASA (MHG) where the
company expresses its intension to present an offer with a higher
price level and a different structure. Cermaq has through its
advisors initiated contact with MHG, and the Board of Cermaq is
positive to enter into a constructive dialogue if MHG chooses to
present an offer with a price and structure which the Board of
Cermaq finds appropriate to evaluate.
In parallel, the Board of Cermaq pursues
alternative strategic solutions to an acquisition by MHG and
has established dialogue with other interested parties regarding
solutions that may be attractive to the company's shareholders.
The Board reiterates its commitment to deliver
value to its shareholders consistent with the Board's view on the
underlying value of Cermaq.
Further information - please contact:
Jon Hindar, CEO, phone: +47 23 68 50 10, mobile: + 47 977 48
829
Tore Valderhaug, CFO, phone: + 47 23 68 50 38, mobile: +47 995
60 925
About Cermaq - Cermaq is an international group of
companies with activities in fish farming, production of salmonid
feed and research in aquaculture. Cermaq has operations in Norway,
Chile, Canada, Scotland, the main geographic regions for salmon and
trout farming, and in Vietnam. Through its business unit EWOS,
Cermaq ranks as the world's largest producer of feed for salmonids.
The business unit Mainstream is one of the world's leading farming
companies of salmon and trout. The group had sales of around NOK
11.8 billion in 2012. Cermaq is listed on the Oslo stock exchange
with ticker code CEQ. www.cermaq.com
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.
The owner of this announcement warrants that:
(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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