The Scottish Salmon Company Plc: Compulsory Acquisition Of Mionrity Shares By P/F Bakkafrost

 
TIDMSSC 
 
 
   P/F Bakkafrost ("Bakkafrost") has, today, initiated a compulsory 
acquisition of the shares in The Scottish Salmon Company PLC (the 
"Company") held by other shareholders therein than Bakkafrost. The 
compulsory acquisition covers both the depositary receipts recorded in 
the Norwegian VPS system and the common shares issued in physical form. 
 
   The compensation offered by Bakkafrost is NOK 28.25 per depositary 
receipt/common share (together, the "Equity Instruments"), i.e. the same 
amount as the price paid in the mandatory bid for the Equity Instruments 
which Bakkafrost completed in December last year. 
 
   The holders of the Equity Instruments subject to the compulsory 
acquisition can, within the date six weeks from today (24 February 2020), 
apply to the Royal Court of Jersey for it to make an order that: 
 
   (a)         Bakkafrost shall not be entitled and bound to acquire the 
remaining Equity Instruments; or 
 
   (b)         specifies terms of acquisition different from those offered 
by Bakkafrost. 
 
   If no such order is made by the end of the six week period, Bakkafrost 
shall so notify the Company and make payment of the compensation to the 
Company. The Company will then record Bakkafrost as the owner of the 
Equity Instruments and arrange for payment thereof to each recipient of 
the compensation. 
 
   Holders of depositary receipts will receive such settlement amount to 
the NOK account recorded on their VPS account. 
 
   This information is subject to the disclosure requirements pursuant to 
section 5 -12 of the Norwegian Securities Trading Act.

(END) Dow Jones Newswires

January 13, 2020 11:45 ET (16:45 GMT)

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