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Marine Harvest Bid for Morpol Approved

16 January 2013

NORWAY - A mandatory offer made by Marine Harvest to acquire the remaining shares in Morpol has now been approved by the Oslo Stock Exchange.

Back in December, Marine Harvest acquired 48.5 per cent of the shares in Morpol, which triggered a mandatory offer by Marine Harvest for all shares in Morpol ASA not already held.

The offer document from Marine Harvest has an offer price of NOK 11.50 per share, which will be settled in cash.

The offer price represents a premium of 39 per cent compared to the closing price of Morpol's shares at Oslo Børs on 14 December 2012, the last trading day before the announcement of the decision to make the Offer.

The offer price also represents a premium of 38, 37 and 32 per cent to Morpol's volume weighted average share price for the three month, six month and 12 month periods ending on 14 December 2012, the last trading day prior to the announcement of the Offer, respectively.

The offer period under the Offer is from and including 15 January 2013 to and including 26 February 2013 at 16:30 (CET). Settlement of the Offer is expected to be on or about 12 March 2013.

In order for a shareholder to accept the Offer, the acceptance form found in the offer document must be fully and correctly completed, signed and received by the receiving agent before 16:30 (CET) on 26 February, 2013.

Arctic Securities ASA has acted as financial advisor and receiving agent for Marine Harvest in relation to the offer.

The offer document will be made public from 15 January 2013 and sent to shareholders in Morpol (as registered in VPS on the 14 January 2013). The offer document can also be obtained by contacting Arctic Securities ASA (www.arcticsec.no).

TheMeatSite News Desk



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