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 intention 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.
