NOT FOR DISTRIBUTION IN OR INTO CANADA, AUSTRALIA, JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL Singapore, 24 May 2013 - China Fishery Group Limited ("CFGL") refers to the offer document dated 13 March 2013 (the "Offer Document") regarding the voluntary offer (the "Offer") to acquire all outstanding shares (the "Shares") in Copeinca ASA (the "Company", and together with its subsidiaries the "Copeinca Group") made by CFGL's indirect subsidiary Grand Success Investment (Singapore) Private Limited the "Offeror"). Reference is also made to the announcements from CFGL on 21 May 2013 regarding CFGL's intention to make a new voluntary cash tender offer to acquire all of the Shares of the Company; and the announcement from Cermaq ASA on 23 May 2013 regarding its withdrawal of its Copeinca offer and decision not to accept the CFGL offer (the "Cermaq Announcement"); and the announcement from Copeinca on 23 May 2013 regarding update in connection with the voluntary offers (the "Copeinca Announcement"). The acceptance period in the Offer expired at 21:00 (CET) on 23 May 2013. The Offeror has received acceptances of the Offer for a total of 13,214,382 Shares, including the pre-accepted shares, which together with the call option agreement of 6,295,100 shares and the 5,773,000 Shares owned by the Offeror represents approximately 36.0% of the outstanding Shares and votes in the Company. This means that the condition for completion of the Offer set out in section 3.3 (a) (acceptance level) of the Offer Document has not been met. Accordingly, the Offeror will not complete the Offer and all acceptances received are automatically released. With regards to a possible new voluntary cash tender offer to acquire all of the Shares of the Company, CFGL is currently reviewing its options in light of the Cermaq and Copeinca Announcements and will update the market within due course. *** The Offer and the distribution of this announcement and other information in connection with the Offer may be restricted by law in certain jurisdictions. CFGL does not assume any responsibility in the event there is a violation by any person of such restrictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions. This information is subject to the disclosure requirements set out in section 6-19 (voluntary offers) of the Norwegian Securities Trading Act. Contacts Skandinaviska Enskilda Banken AB (publ) Oslo Branch, financial adviser Henrik Tangen, +47 2100 8511, henrik.tangen@seb.no China Fishery Group Limited Dennis Chan, Finance Director, +852 2589 4156, dennis.chan@chinafish.com
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