Key Developments: Marine Harvest ASA (MNHVF.PK)

MNHVF.PK on OTC Markets Group

24 Jul 2014
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Latest Key Developments (Source: Significant Developments)

Marine Harvest ASA comments on harvest guidance for FY 2014
Tuesday, 15 Jul 2014 01:05am EDT 

Marine Harvest ASA:Marine Harvest expects a total harvest volume of 417 thousand tonnes in FY 2014.  Full Article

Marine Harvest ASA announces refinancing of bank facilities
Tuesday, 15 Jul 2014 01:01am EDT 

Marine Harvest ASA:Announces an agreement to refinance its existing bank facilities with a senior secured five year 425 mln euro multicurrency revolving credit facility, with its existing lenders DNB, Nordea, Rabobank and ABN AMRO.The facility includes an accordion increase option, which provides flexibility for the parties to agree an increased size of the facility by further up to 425 mln euros during the term of facility.The principal financial covenant of the facility is an equity ratio of no less than 35 pct during the term.The remaining portfolio of interest bearing debt does not include more restrictive financial covenants.The portfolio of interest bearing debt does not include any scheduled amortizations.  Full Article

Marine Harvest announces adjustment to conversion price of convertible bond
Friday, 23 May 2014 09:47am EDT 

Marine Harvest ASA:Says conversion price of the Company's 350 million euro convertible bond (ISIN NO0010679152) has been adjusted.The new conversion price is 9.0846 euros.  Full Article

Marine Harvest completes divestment of farming operations on Shetland and Orkney Islands
Wednesday, 14 May 2014 02:45am EDT 

Marine Harvest ASA:Completes the divestment of integrated farming operations on the Shetland and Orkney Islands to Cooke Aquaculture Inc.The agreed Enterprise Value (EV) was 122.5 million pounds.Arctic Securities has acted as financial advisor and Wiersholm and Brodies have acted as legal advisors in the transaction.  Full Article

Marine Harvest increases harvest guidance for 2014
Wednesday, 30 Apr 2014 01:02am EDT 

Marine Harvest ASA:Increases harvest guidance for 2014 to 417,000 tons.Earlier expects harvest volume of 405,000 tons.  Full Article

Marine Harvest prices EUR 375 mln convertible bond offering
Thursday, 24 Apr 2014 07:30am EDT 

Marine Harvest ASA:Says has priced its 375 million euro convertible bond offering.Sets annual coupon at 0.875 percent payable semi-annually in arrear and a conversion premium of 35.0 percent over the reference price.The reference price was set at 8.7019 euros (based on the volume weighted average price of the company's common shares on the Oslo Exchange between launch and pricing of 72.0000 Norwegian crowns and a Fixed Exchange Rate of 8.2741 crowns per 1.00 euro).The bonds mature in 2019.Proceeds will be used general corporate purposes including refinancing of the company's indebtedness.Credit Suisse and Goldman Sachs International are acting as joint bookrunners.ABN AMRO, BNP Paribas, Deutsche Bank, DNB Markets, Nordea Markets and Rabobank International are acting as co-managers.  Full Article

Marine Harvest ASA launches convertible bond offering
Thursday, 24 Apr 2014 02:02am EDT 

Marine Harvest ASA:Says it intends to issue 375 mln euro in principal amount of convertible bonds with a five-year tenor.Senior unsecured bonds are convertible into common shares of company.Bonds are expected to have annual coupon in range of between 0.875 pct and 1.500 pct payable semi-annually in arrear and conversion premium of between 30.0 pct and 35.0 pct over volume weighted average price of company's common shares on Oslo Stock Exchange between launch and pricing.Bonds will be issued and redeemed at 100 pct of principal amount and will, unless previously redeemed, converted or purchased and canceled, mature in 2019.Marine Harvest has right to call bonds after about three years if value of Marine Harvest common shares underlying one bond on Oslo Stock Exchange exceeds, for specified period of time, 130 pct of t principal amount of bond.Bonds are expected to be settled on or around May 6.Bonds will not be listed on issue but Marine Harvest may decide to list bonds on exchange at later stage.Proceeds from bonds will be used for general corporate purposes including refinancing of company's indebtedness.Credit Suisse and Goldman Sachs International are acting as joint bookrunners.  Full Article

Marine Harvest proposes Q1 dividend of NOK 5/share; comments on guided annual volume
Wednesday, 16 Apr 2014 01:01am EDT 

Marine Harvest ASA:Proposes Q1 dividend of 5 Norwegian crowns per share.Says the increase in harvest volume in Q1 is likely to lead to an increase in the guided annual volume.  Full Article

Marine Harvest receives no nominations for fish farming licences in Norway-Reuters
Friday, 11 Apr 2014 11:13am EDT 

Marine Harvest ASA:Has received no nominations for fish farming licences the Norwegian government plans to hand out in the latest round of awards-Reuters.The 20 licences, all in Norway's two northernmost counties of Troms and Finnmark, cost 10 million Norwegian crowns ($1.69 million) each.The Norwegian Fisheries Directorate plans to award a further 10 licences in another round later this year.  Full Article

European Commission investigates whether Marine Harvest complied with suspension obligation and notification requirement when acquiring Morpol
Monday, 31 Mar 2014 06:39am EDT 

Marine Harvest ASA:Says the European Commission is investigating whether Marine Harvest has committed an infringement of the suspension obligation and of the notification requirement by acquiring an initial shareholding in Morpol, before the related acquisition was notified to and approved by the European Commission.The European Commission has issued a statement of objections.The investigation proceedings do not affect the approval granted by the European Commission for the acquisition of Morpol by Marine Harvest, but may lead to a monetary fine for the infringement.  Full Article

EU regulators fine fish farmer Marine Harvest 20 million euros

BRUSSELS/OSLO - European Union regulators have handed down a 20 million euro ($27 million) fine on Norway's Marine Harvest ASA, the world's biggest fish farmer, for acquiring smaller rival Morpol without first securing antitrust approval.

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