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.
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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
