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AKVA Group ASA Updates on Acquisition of Company by Egersund Group AS


Friday, 4 Jan 2013 02:00am EST 

AKVA Group ASA (AKVA) announced that in connection with the mandatory offer (Offer) put forward by Egersund Group AS (Egersund or Offeror) in accordance with the offer document dated December 20, 2012 (Offer Document) regarding the acquisition of all outstanding shares in AKVA, other than the shares owned by Egersund, on December 3, 2012, the Company was informed that Egersund Group had disclosed a shareholding in excess 50.0% of the shares in the Company, thereby exceeding the mandatory offer threshold pursuant to the Norwegian Securities Trading Act. Per January 2, 2013, Egersund and related parties control 50.49% of the issued shares of AKVA. The Board has reviewed the Offer Document and discusses below factors assumed to be of importance for determining whether the Offer should be accepted. The offer price (Offer Price) is NOK 11.25 per share, corresponding to a value of the Company's equity of NOK 290,635,909 based on 25,834,303 outstanding shares. The Offer Price represents a discount of 3.3% on the volume weighted average share price in the last three months before the Offer, and a premium of 2.3% on the share price the last trading day before the Offer was announced. The Board has engaged Skandinaviska Enskilda Banken AB (publ) Oslo Branch (SEB Enskilda) as its financial adviser in connection with the Offer. 

Company Quote

23.0
-0.5 -2.13%
31 Jul 2014