Copeinca ASA : 2013-05-21 [Oslo Børs] China Fishery Group Limited announces intention to make a new voluntary cash tender offer to acquire all of the shares of Copeinca ASA

NOT FOR DISTRIBUTION IN OR INTO CANADA, AUSTRALIA, 
JAPAN OR ANY OTHER JURISDICTION IN WHICH THE 
DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL

Reference is made to the offer document dated 13 
March 2013 regarding the voluntary cash tender offer 
(the "Offer") for shares (the "Shares") of Copeinca 
ASA (the "Company") made by Grand Success Investment 
(Singapore) Private Limited (the "Offeror"), a 
Singaporean limited liability company indirectly 
owned by China Fishery Group Limited ("CFGL"). 
Reference is also made to the announcements from 
Cermaq ASA ("Cermaq") and the Company on 5 April 2013 
regarding a competing offer for shares of the Company 
made by Cermaq (the "Cermaq Offer"); the announcement 
by CFGL on 10 May 2013 regarding extension of the 
offer period in the Offer (the "Second Amendment 
Notice"); the offer document published by Cermaq on 
29 April 2013 for the Cermaq Offer; and the 
announcements made by Marine Harvest ASA ("Marine 
Harvest") on 30 April 2013 and 15 May 2013 regarding 
its potential offer for the shares of Cermaq, such 
offer being contingent on, among other things, the 
Cermaq Offer not being completed (the "Marine Harvest 
Offer").

Pursuant to the Second Amendment Notice, the Offeror 
has extended the Acceptance Period (as defined in the 
Offer Document) in the Offer to 23 May 2013. This is 
the latest possible expiry time for the Acceptance 
Period in the Offer, see section 3.2 of the Offer 
Document. As a consequence of the ongoing 
developments relating to the Cermaq Offer and the 
Marine Harvest Offer, CFGL today announces that, 
subject to (i) the 50.01% minimum acceptances level 
condition for the Offer (see section 3.3 (a) of the 
Offer Document) not being satisfied or waived upon 
expiry of the Acceptance Period, and (ii) the 
shareholders in Cermaq voting down the proposed 
equity issue on 21 May 2013, the Offeror intends  to 
make a new voluntary cash offer to acquire all the 
shares in Copeinca (the "New Offer"). The New Offer 
will have similar terms as the Offer, however, the 
Offeror will consider to increase the offer price to 
above NOK 59.70 per share in the New Offer. 
Subject to the foregoing conditions being met, launch 
of the New Offer is expected to take place as soon as 
possible after the expiry of the Acceptance Period in 
the Offer, following review and approval by the Oslo 
Stock Exchange of an offer document for the New Offer 
pursuant to Chapter 6 of the Norwegian Securities 
Trading Act. The detailed terms and conditions of the 
New Offer will be set on in the offer document for 
the New Offer. 

***

The Offer and the distribution of this announcement 
and other information in connection with the Offer 
may be restricted by law in certain jurisdictions. 
CFGL does not assume any responsibility in the event 
there is a violation by any person of such 
restrictions. Persons into whose possession this 
announcement or such other information should come 
are required to inform themselves about and to 
observe any such restrictions.

This information is subject to the disclosure 
requirements set out in section 6-19 of the Norwegian 
Securities Trading Act.

Contacts

Skandinaviska Enskilda Banken AB (publ) Oslo Branch, 
financial adviser
Henrik Tangen, [phone], [e-mail]

China Fishery Group Limited
Dennis Chan, Finance Director, [phone], 
[e-mail]