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, email@example.com
Chies Executive Officer Pablo Trapunsky, firstname.lastname@example.org
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.
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Source: Copeinca via Thomson Reuters ONE