China Fishery to acquire all remaining Copeinca shares

Also plans to delist Copeinca.

China Fishery Group Limited and its subsidiaries (China Fishery) announced that it has acquired all the remaining shares in Copeinca ASA (Copeinca) not owned by the Group.

Prior to this Compulsory Acquisition, the Group had effective ownership of 99.78% of Copeinca shares. The offered redemption price of NOK 68.17 corresponds with the most recent offer price for the shares. Funds to secure settlement under the Compulsory Acquisition have been placed with an Oslo bank in accordance with the regulatory requirements.

The Group also announced that, as a result of the Compulsory Acquisition, it will pursue the delisting of Copeinca shares from the Oslo Bors and the Lima Stock Exchange.

“We believe that delisting will provide us with the greatest flexibility to realise synergies and efficiencies in our enlarged Fishmeal Operations,” said Mr Ng Joo Siang, Group Managing Director of China Fishery. “With respect to the Compulsory Acquisition, it provides the remaining shareholders with a welcome opportunity to obtain good value for shares which currently have no liquidity.” Mr Ng added.

The Group advised that separate stock exchange notices would be published regarding the timing of the delisting.