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INSTITUTIONAL INVESTMENT | Staff Reporter, China
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China Fishery launches new offer for Copeinca at NOK68.17 per share

It currently owns 8.22% shares in Copeinca.

In a release, China Fishery Group Limited announced today that it intends to launch a new voluntary cash offer for Oslo Børs-listed Copeinca ASA, Peru’s second largest fishing company.

At the time of the announcement, the Group owns 5,773,000 Copeinca shares, representing 8.22% of total number of shares outstanding in Copeinca.

Further, on 21 June 2013, the Group exercised its call option to acquire 6,295,100 additional Copeinca shares, representing approximately 8.97% of the outstanding shares in Copeinca, from Veramar Azul S.L. pursuant to a call option agreement.

Moreover, the Group has received pre-acceptances for the New Offer for a total of 40,039,247 Copeinca shares, representing 57.04% of the outstanding shares in Copeinca, from various Copeinca shareholders, including Dyer Coriat Holding S.L. (19,098,000 shares or 27.21%), Weilheim Investments S.L. (3,485,930 shares or 4.97%), and Cermaq ASA (13,620,492 shares or 19.40%).

On this basis, the Group has gained an effective control of 74.23% of the total outstanding shares of Copeinca at the time of the announcement.

Mr NG Joo Siang, Group Managing Director, said, “We are very pleased to be in such a strong position in launching this New Offer for Copeinca. It is our belief that this acquisition would offer an immense potential in creating shareholder value and represents a significant milestone towards the Group’s strategic objective of increasing and securing access to fishery resources around the world.”

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