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Marine Harvest ASA (MHG.OL)

MHG.OL on Oslo Stock Exchange

23 May 2017
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Latest Key Developments (Source: Significant Developments)

Marine Harvest to refinance its existing bank facility
Wednesday, 10 May 2017 02:15am EDT 

May 10 (Reuters) - Marine Harvest Asa :has entered into a term sheet to refinance its existing bank facility with a senior secured five year eur 1,206 million multicurrency revolving credit facility with dnb, nordea, abn amro, rabobank, danske bank and seb.the facility includes an accordion increase option, which provides flexibility for the parties to agree an increased size of the facility by an additional eur 200 million during the term of the facility.principal financial covenant of facility is an equity ratio of minimum 35%.  Full Article

Marine Harvest increases dividend, keeps 2017 harvest guidance despite cut in Norway
Wednesday, 10 May 2017 12:30am EDT 

May 10 (Reuters) - Fish farmer Marine Harvest Asa ::Marine harvest q1 operational ebit eur 220 million versus eur 215 million in preliminary april 20 statement and vs eur.112 mln in Q1 2016 .Marine harvest q1 revenues eur 892 million (reuters poll eur 854 million) and vs eur 810 mln in q1 2016.The operational result was a new first quarter record high.Marine harvest proposes q1 dividend of nok 3.00 per share versus nok 2.8 in q4.Marine harvest sees 2017 harvest of 403 000,000 tonnes versus previous forecast 403,000 (reuters poll 397,000).Marine harvest sees 2017 harvest in norway of 242,000 tonnes versus previous forecast of 250,000 tonnes (Reuters poll 246,000 tonnes).Marine harvest asa: 2017 volumes in norway reduced by 8,000 tonnes due to biological issues.Marine harvest now sees 2017 global industry output growth 1 to 5 percent versus -1 to +4 percent seen in february.Marine harvest now sees 2017 industry output in norway +1 to +3 percent versus -2 to +2 percent seen in february.Marine harvest asa: future prices (nasdaq) next twelve months eur 6.5 per kg (nok 62 per kg).Marine harvest asa: demand for salmon continues to be good and supported by several megatrends.Marine harvest asa: entered into a term sheet to refinance its existing bank facility with a senior secured five year eur 1,206 million credit facility with dnb, nordea, ABN Amro, rabobank, danske bank and seb.  Full Article

Marine Harvest exercises right to redeem EUR 375 mln bond
Wednesday, 3 May 2017 01:00am EDT 

May 3 (Reuters) - Marine Harvest Asa : :Says it is exercising a right to redeem a EUR 375 million, five year convertible bond issued in 2014 and maturing on 6 May 2019 (ISIN NO 001 0710395) at par value plus accrued interest.Says has notified the trustee for the convertible bond, Nordic Trustee ASA, that clause 10.2 in the loan agreement has been fulfilled as the Marine Harvest share price for at least twenty days out of a period of thirty consecutive trading days has exceeded 130 per cent of the current conversion price of the bonds.Says the loan agreement provides the bondholders the period up to and including 11 May 2017 to convert their bonds into shares.The remaining outstanding loan amount is EUR 353.9 million and the current conversion price is EUR 9.3458 per share..Says if bondholders decide to convert all remaining bonds into shares, Marine Harvest will issue about 37.9 million new shares. Bonds that are not converted into shares will be redeemed at par value plus accrued interest on 6 June 2017.  Full Article

Marine Harvest Q1 operational EBIT beats forecast
Thursday, 20 Apr 2017 12:30am EDT 

April 20 (Reuters) - Marine Harvest Asa :Q1 operational ebit EUR 215 million ($230.46 million)(Reuters poll EUR 206 million).Q1 harvest volume 84,000 tonnes (Reuters poll 84,300 tonnes). In connection with the presentation of the Q4 2016 results, Marine Harvest had guided a total harvest volume of 84,000 tonnes for Q1.Reported net interest bearing debt was approximately EUR 845 million at end of quarter.Complete Q1 2017 report will be released on May 10 at 0630 CET.  Full Article

Deep Sea Supply: exercise of option for construction of one wellboat
Thursday, 23 Mar 2017 08:44am EDT 

Deep Sea Supply Plc : DESS Aquaculture Shipping AS - exercise of option for construction of one wellboat . DESS Aqua has now declared first option vessel under this contract, and vessel has a contractual delivery date in Q2 2018 .Upon delivery, vessel will enter into a five year charter contract with Marine Harvest Full Article

Norway cuts quota at Marine Harvest's Bukkholmen salmon farm
Friday, 24 Feb 2017 10:18am EST 

Marine Harvest Asa : Norway's Food Safety Authority (FSA) says has warned Marine Harvest it will cut the company's maximum allowed biomass quota at Bukkholmen for 2 years . Biomass is a measure of how much fish is held in a fish farm . FSA says cut is due to repeated prevalence of sea lice at Bukkholmen . FSA says Marine Harvest has been too slow in implementing measures to reduce sea lice, and the effect of measures has not been satisfactory in several cases . FSA says aim of biomass reduction is to ensure operation at the site is brought in line with regulation .Marine Harvest is the world's top salmon farmer.  Full Article

Marine Harvest completes C$15 mln purchase of farming assets on the East Coast of Canada
Friday, 24 Feb 2017 01:40am EST 

: Fish farmer Marine Harvest completes the purchase of farming assets on the East Coast of Canada . The Court of Queen's Bench of New Brunswick has approved Marine Harvest as the purchaser of the assets owned by the Gray Aqua Group of Companies .Acquisition price on a cash and debt free basis is C$15 million, announced on Dec 19 2016 [nASM0008A1].  Full Article

Fish farmer Marine Harvest nominated to buy Candaian farming assets
Monday, 19 Dec 2016 02:00am EST 

Marine Harvest Asa : Marine Harvest nominated to purchase farming assets on the east coast of Canada . Have been nominated by receiver of all assets owned by Gray Aqua Group of companies to purchase company . Acquisition price on a cash and debt free basis is CAD 15 million . "The acquisition is important from a strategic point of view, as it further broadens Marine Harvest's global farming footprint in a country where we are already present on the West Coast" . Says he market for salmon in North-East America continues to develop very favourably . The assets purchased include one hatchery in New Brunswick, two farming licenses in New Brunswick, seven farming licenses in Newfoundland, and one processing plant in Newfoundland . Currently no fish has been stocked in the above mentioned licenses . In addition, the Company has applied for 17 farming licenses in Newfoundland which are yet to be approved .Marine Harvest will shortly start to detail a production plan and investment framework for the East Coast of Canada, including building an organisation capable to produce 15,000-20,000 tonnes gutted weight equivalent of salmon per annum.  Full Article

Marine Harvest CEO says to have "high contract share" in H1 2017
Wednesday, 2 Nov 2016 03:00am EDT 

Marine Harvest Asa : ceo says expects high cost level also in q4 . ceo says our average price is about 90 percent of spot price due to contract commitments . ceo says we see that we will have a high contract share also in the first half of 2017 Further company coverage: [MHG.OL] (Reporting By Joachim Dagenborg, editing by Terje Solsvik) ((terje.solsvik@thomsonreuters.com;)).  Full Article

Marine Harvest rejects biomass flexibility proposal
Thursday, 1 Sep 2016 01:36am EDT 

Marine Harvest Asa : After due consideration including length of the trial period, cost, potential output and sustainability Marine Harvest has decided to not apply for flexible maximum allowed biomass .The Norwegian Fishery Directorate on June 30 offered Norwegian salmon farmers increased flexibility with regards to meeting the maximum biomass regulations.  Full Article

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UPDATE 1-Marine Harvest and Salmar see more supply ahead, still expect a strong market

** Fish farmers Marine Harvest and Salmar expect the global supply of salmon to increase later this year, following a year-on-year drop in Q1