In a statement to the Parliament today, the Minister of Trade and industry Mr. Trond Giske, made it clear that the Government will vote in favour of the Copeinca transactions to be addressed at Cermaq's Annual General Meeting 21 May. At the same time he also stated that the Government after a thorough evaluation has concluded that the potential offer from Marine Harvest ASA is too low and will not be accepted by the State.
-We are pleased that the Government supports our view that Copeinca is strategically important to Cermaq, and that the proposed offer from Marine Harvest is priced too low, states CEO Jon Hindar.
The Norwegian State owns 43.5 percent of the shares in Cermaq. Marine Harvest has announced a potential offer on the Cermaq shares and stated that such potential offer may be conditional of acceptance from 2/3 of the shareholders in Cermaq. This will not be possible without the support from the State.
- It is important to Cermaq's shareholders to note that the Government now has concluded its evaluation of the potential offer from Marine Harvest. The State is not accepting the potential offer, and this means that such offer if launched cannot obtain the acceptance level indicated by Marine Harvest, says Jon Hindar.
The Board of Cermaq is of the opinion that it would be unfortunate if Cermaq's shareholders were to miss out on a value creating transaction, based solely on a potential offer that has been deemed too low, and for which it now anyway appear unlikely that can get sufficient support.
The Board solicits the shareholders to support value creation and a forward looking strategic positioning of the company, by supporting the Board's proposition on the 21st of May 2013
Shareholders can contribute in person or through proxy to the Chairman of the Board. The proxy form is available on www.cermaq.com (http://www.cermaq.com/)
Further information:
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
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(i) the releases contained herein are protected by copyright and other applicable laws; and
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information contained therein.
Source: Cermaq ASA via Thomson Reuters ONE
