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State of Norway Acquires Shares in Cermaq

Lucy Towers
08 July 2013, at 1:00am

NORWAY - On Monday 24 June, the State of Norway (the State) purchased 9,46 million shares in Cermaq ASA at NOK 108.00 per share. In addition, the State also purchased up to 5 million Cermaq shares on the Oslo Stock Exchange at the same price. The States broker is Handelsbanken Capital Markets.

The State has now completed the process of a reverse Dutch auction in which it invited shareholders with a minimum holding of 5000 shares in Cermaq ASA to offer their shares for sale, in a period ending 24 June at 16:30 CET.

As a result of the auction, the State has purchased 9.46 million shares at a price of NOK 108.00 per share. All shares offered at or below this price have been purchased. Thus, all shareholders that offered shares at NOK 108.00 or less have had 100 per cent of their offer accepted.

A total of 10.9 million shares were offered at a price of NOK 109.00 per share or less, and a total of 12.1 million shares were offered at a price of NOK 110.00 or less.

After the purchase on 24 June the State now owns a total of 49.73 million shares in Cermaq ASA corresponding to 53.77  per cent of the shares issued.

The State will on Tuesday 25 June offer to buy up to 5 million shares at a price of NOK 108.00 per share on the Oslo Stock Exchange. The State’s broker is Handelsbanken Capital Markets.