Copeinca : Copeinca to appoint financial advisors to explore strategic
alternatives, negative view from major shareholders on the presented intended
The board of directors of Copeinca ASA (Copeinca) makes reference to the
announcement made by China Fishery Group Limited (CFGL) of an intended offer
for all of the shares in Copeinca. This announcement was unsolicitated and was
made without any contact or discussion with the board of directors of
Each of Dyer Coriat Holding with 32.6% of the shares in Copeinca and Weilheim
Investments with 6.0% of the shares does not find the announced intended offer
attractive and will not tender their shares in an offer based on the terms and
conditions presented by CFGL. Ocean Harvest, with 13.9% of the shares, has not
entered into a pre-acceptance agreement with regards to the intended offer,
but will consider the offer and await the further developments. These three
shareholders are represented at the board of directors of Copeinca.
Copeinca is in the process of formally appointing financial advisors to
explore strategic alternatives for Copeinca following the announcement made by
CFGL, in order to protect the interests of Copeinca and all of its
Copeinca will disclose its further views of the announced intended offer and
other relevant developments in due course, following a closer evaluation and
discussion with its financial advisors.
In the meantime, Copeinca notes that there are discrepancies between the
announcements made by CFGL on Copeinca's ticker on the OSE, and the notices
made by CFGL and its related companies (Pacific Andes Resources Development
and Pacific Andes International Holdings). For instance, in the notices on the
SGX and the HKEX, the pre-acceptances and related withdrawal rights are
presented in more detail, the acceptance level condition of the intended offer
is presented as non-waivable by the Offeror, and the conditions precedent for
the financing are presented in more detail.
Shareholders are strongly advised to refrain from taking any action in respect
of their shares in Copeinca which may be prejudicial to their interests, and
to exercise caution when dealing in the shares of the Company.
For further information, please contact:
Chairman of the Board of Directors Samuel Dyer Coriat, firstname.lastname@example.org
Chies Executive Officer Pablo Trapunsky, email@example.com
Tel. (511) 213-4000
About Copeinca ASA
Copeinca ASA is one of the largest fishmeal and fish oil producers in Peru.
The Company produces its fishmeal and fish oil from anchovy harvested off the
coast of Peru, and most of its production is exported. Key countries for
export are China, Japan, Germany, Canada, Chile and Denmark. Typical
customers are fish and animal feed producers as well as refineries for omega-3
products. Copeinca ASA runs its operations out of Lima and has its own fleet.
Copeinca ASA operates 5 plants located in strategic locations all around the
Peruvian coast line. The company has around 1,400 part and full time
Please visit www.copeinca.com
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Thomson Reuters on behalf of Thomson
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.
Source: Copeinca via Thomson Reuters ONE
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