Leroy completes 100 percent acquisition of Havfisk and Norway Seafoods

Leroy Seafood Group has completed the compulsory acquisition of the remaining shares in both Havfisk ASA and Norway Seafoods Group AS (NWSF) and now has full ownership of both companies.

In accordance with the Norwegian Securities Trading Act, the offered redemption price to be paid by Leroy for each Havfisk Minority Share has been set at NOK 36.50 (USD 4.43, EUR 4.06), which is equal to the offer price in the mandatory offer made by Leroy on 16 September, 2016.

The rights and ownership of the Havfisk Minority Shares have as a consequence legally been transferred to Leroy, and accordingly Leroy is the beneficial owner of 100 percent of the shares and votes in Havfisk.

As a result of the compulsory acquisition, it will pursue a delisting of the shares in Havfisk from the Oslo Stock Exchange. A separate stock exchange announcement will be published regarding the delisting.

At the same time, following expiry of the voluntary offer period and further acquisitions of shares, Leroy owns more than 96 percent of the shares in NWSF. Therefore, pursuant to section 4-26 of the Norwegian Private Limited Companies Act, Leroy has resolved a compulsory acquisition of the remaining NWSF minority shares.

The offered redemption price to be paid by Leroy for each NWSF Minority Share has been set at NOK 1 (USD 0.12, EUR 0.11), which is equal to the offer price in the voluntary offer made by Leroy also on 16 September and the price paid by Leroy for further shares.

The rights and ownership of the NWSF minority shares have as a consequence legally been transferred to Leroy, making it the beneficial owner of 100 percent of the shares and votes in NWSF.

As with Havfisk, shares in NWSF will be de-registered from the NOTC list, which is in accordance with the resolution passed by the extraordinary general meeting of NWSF held on 16 September.

Havfisk is Norway’s largest trawler company with 10 vessels and 29.6 cod trawling licenses, while Oslo-based Norway Seafoods is one of Europe’s leading whitefish suppliers.