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Copeinca ASA Responds to China Fishery Group Ltd Regarding Update on Offer for Copeinca's Shares


Monday, 25 Mar 2013 03:02am EDT 

Copeinca ASA announced in reference to China Fishery Group Ltd's (CFGL) announcement from March 22, 2013 that its board of directors considers CFGL's announcement speculative and with the sole purpose of preserving the interest of CFGL, and considers CFGL's announcement misleading for investors who wish to make informed investment decisions with regard to the Copeinca shares. Copeinca's board of directors is, together with its advisors, actively considering all options to maximize value for all of Copeinca's shareholders. The key focus of these considerations is continuing discussions with parties potentially interested in making an offer for all of the shares in Copeinca, at better terms than, and within the timeframe set by, CFGL's offer. The board of directors wishes to express that it would only consider using authorization to issue new shares if it is deemed necessary to maximize the value for all Copeinca's shareholders. Using the authorization simply to block CFGL's, or any other potential bidder's offer, without ensuring that a more favorable offer is presented to all Copeinca's shareholders, would hence not be considered by the board of directors of Copeinca.