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Copeinca ASA Announces Further Details with Regards to Unsolicited Offer from China Fishery Group Ltd


Monday, 4 Mar 2013 02:00am EST 

Copeinca ASA announced that it has appointed UBS Limited, DNB Markets and Carnegie to explore strategic alternatives following the announcement made by China Fishery Group Ltd (CFGL) on February 26, 2013 of an intended unsolicited offer for all Copeinca's outstanding shares. None of the shareholders represented at the board have entered into pre-acceptance agreements with regard to the intended offer. Based on the announcements made by CFGL, only shareholders representing a total of 25% have either provided pre-acceptances (14.2%) or entered into option agreements (10.8%) with regard to the intended offer, both of which may be withdrawn, if there is a competing offer being at least 5% higher and not matched by CFGL within five trading days. To protect the interests of Copeinca and all its shareholders, Copeinca will together with its financial advisors consider any and all available options to maximize shareholder value compared with CFGL's unsolicited intended offer, including by soliciting interest from potential alternative bidders.