Free Submission Public Relations & NewsPR-inside.com
Home
Deutsch English

Business

Copeinca to appoint financial advisors to explore strategic alternatives, negative view from major shareholders on the presented intended offer


Print article Print article
Copyright © Thomson Reuters 2013. All rights reserved.
2013-02-27 08:11:26 -

The  board  of  directors  of  Copeinca  ASA  (Copeinca)  makes reference to the
announcement made by China Fishery Group Limited (CFGL) of an intended offer for
all  of the shares in Copeinca. This announcement was unsolicitated and was made
without any contact or discussion with the board of directors of Copeinca.

Each  of Dyer Coriat Holding  with 32.6% of the shares  in Copeinca and Weilheim
Investments  with 6.0% of the shares does  not find the announced intended offer
attractive  and will not tender their shares in  an offer based on the terms and
conditions  presented by CFGL. Ocean Harvest,  with 13.9% of the shares, has not
entered  into a pre-acceptance 
agreement with regards to the intended offer, but will consider the offer and await the further developments. These three shareholders are represented at the board of directors of Copeinca. Copeinca is in the process of formally appointing financial advisors to explore strategic alternatives for Copeinca following the announcement made by CFGL, in order to protect the interests of Copeinca and all of its shareholders. Copeinca will disclose its further views of the announced intended offer and other relevant developments in due course, following a closer evaluation and discussion with its financial advisors. In the meantime, Copeinca notes that there are discrepancies between the announcements made by CFGL on Copeinca's ticker on the OSE, and the notices made by CFGL and its related companies (Pacific Andes Resources Development and Pacific Andes International Holdings). For instance, in the notices on the SGX and the HKEX, the pre-acceptances and related withdrawal rights are presented in more detail, the acceptance level condition of the intended offer is presented as non-waivable by the Offeror, and the conditions precedent for the financing are presented in more detail. Shareholders are strongly advised to refrain from taking any action in respect of their shares in Copeinca which may be prejudicial to their interests, and to exercise caution when dealing in the shares of the Company. For further information, please contact: Chairman of the Board of Directors Samuel Dyer Coriat, sdyerc@camposol.com.pe Chies Executive Officer Pablo Trapunsky, ptrapunsky@copeinca.com.pe Tel. (511) 213-4000 About Copeinca ASA Copeinca ASA is one of the largest fishmeal and fish oil producers in Peru. The Company produces its fishmeal and fish oil from anchovy harvested off the coast of Peru, and most of its production is exported. Key countries for export are China, Japan, Germany, Canada, Chile and Denmark.  Typical customers are fish and animal feed producers as well as refineries for omega-3 products.  Copeinca ASA runs its operations out of Lima and has its own fleet.  Copeinca ASA operates 5 plants located in strategic locations all around the Peruvian coast line. The company has around 1,400 part and full time employees. Please visit www.copeinca.com This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (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: Copeinca via Thomson Reuters ONE [HUG#1681381]


Press Information:




Contact Person:


Disclaimer: © 2014 Thomson Reuters. The press releases or report contained herein is protected by copyright and other applicable laws, treaties and conventions. Information contained in the releases is furnished by Thomson Reuters's, who warrant that they are solely responsible for the content, accuracy and originality of the information contained therein. All reproduction, other than for an individual user's personal reference, is prohibited without prior written permission.
Latest News
Read the Latest News
www.newsenvoy.com

 


Terms & Conditions | Privacy | About us | Contact PR-inside.com