ACQUISITION OF SHARES IN NORWAY PELAGIC ASA - MANDATORY NOTIFICATION OF TRADE/DISCLOSURE OF SHAREHOLDING
2/8/2013 2:41 AM EST
Reference is made to stock exchange notice of 6
February, 2013, regarding purchase of shares in
Norway Pealgic ASA ("NPEL") and the statement therein
that Austevoll Seafood ASA ("AUSS") intends to submit
a mandatory offer for the remaining NPEL shares.
The Transaction:
AUSS has during 6 and 7 February, 2013 purchased
5,269,616 shares in NPEL. The shares will be paid for
in cash within three days from the acquisition date
and will be financed by utilizing AUSS's existing
credit lines. AUSS hereafter owns 71,89% of the share
capital of NPEL. AUSS intends to submit a mandatory
offer for the remaining NPEL shares based on an offer
price of NOK 15.50 per share. Such offer will
represent a premium of 12,08% to the volume weighted
average price through the last 30 days. The offer
will be submitted within the 4 week period required
by the Norwegian Securities Trading Act. The
transaction will create requirement for a filing to
the Norwegian Competition Authorities, and may also
require filing in other jurisdictions. AUSS will not
be eligible to vote for its NPEL shares until the
transaction has been cleared by the respective
authorities. NPEL will in the first quarter 2013
change from being an associated company to being a
fully consolidated subsidiary within the AUSS Group.
NPEL:
NPEL is a large participant within the processing
industry of pelagic fish for human consumption. The
company`s activities consist of purchase of raw
material, processing and sale. These activities are
based on fish stocks in the Norwegian Sea, The North
Atlantic and the North Sea. The company has modern
environmental friendly production facilities, mainly
located along the Norwegian coast. The Company is a
participant in a global competition exposed industry,
and has customers based in several continents.
NPEL was established in 2007, and currently has 14
production facilities. In 2011 the company employed
415 full-time equivalents and processed 465,000 tons
of raw pelagic fish. The company was listed on the
Oslo Stock Exchange in 2008 and is headed by CEO Tor
Vikenes. The Board members are Arne Møgster
(chairman), Britt Kathrine Drivenes, Agnar Lyng, Anne-
Sofie Utne, Magnus Ytterstad, Endre Sekse and Jorunn
Frøyen.
The transaction is in line with the AUSS strategy of
growth within its main segments, in this case within
the pelagic sector in the North Atlantic.
NPEL financial information is available in the
attachment.
Contact persons: Chairman Helge Singelstad
tlf.: 91 66 10 01
CEO Arne Møgster
tlf.: 91 66 10 49