Marine Harvest Increases Share Ownership in Morpol08 November 2013
NORWAY - Marine Harvest has acquired an additional 21,166,504 shares in Morpol, meaning it currently owns 167,492,329 shares in Morpol, representing 99.7 per cent of Morpol's shares capital.
The board of directors of Marine Harvest has following expiry of the Offer Period resolved to effect a compulsory acquisition (squeeze-out) of all outstanding shares of Morpol that are not currently owned by Marine Harvest, in accordance with the Norwegian Public Limited Liability Companies Act section 4-25. Marine Harvest is offering to pay NOK 11.85 per share that is acquired through the compulsory acquisition.
In accordance with section 4-25 the Norwegian Public Limited Liability Companies Act following the compulsory acquisition the sole right of the former shareholders of Morpol will be to receive consideration for the shares that have been compulsory acquired.
Any objections to or rejection of the Compulsory Offer Price must be made within two months from the compulsory acquisition is announced in the Brønnøysund Registers' electronic bulletin for public announcements.
The announcement is expected to be made on or around 8 November 2013. Payment of the Compulsory Offer Price will be made to those that do not object to or reject the Compulsory Offer Price following expiry of the Objection Period. Those who object to or reject the Compulsory Offer Price prior to expiry of the Objection Period may request that the consideration be determined by the Norwegian courts.
A letter regarding the compulsory acquisition will be submitted to all Morpol shareholders whose addresses are known and whose shares have been compulsory acquired on or around 12 November 2013.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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