China Fishery Last:0.076 -

China Fishery - Low PE

China got no fish. Wahahahahahahahahahahahah!!!!!!!

now i wonder when China Fishery will unveal their new offer for Copeinca. Just hurry up and snap them up already! I can't wait for the price overhang to be removed

Statement from the Cermaq Board regarding the decision on the Copeinca transaction

http://www.4-traders.com/CERMAQ-ASA-476705/news/Cermaq-ASA-Statement-from-the-Board-regarding-the-decision-on-the-Copeinca-transaction-16898678/

[The statement mentions that Cermaq holds almost 20% of the shares in Copeinca. Previously, Cermaq declared that Cermaq has 51.3% of Copeinca shares & support from Copeinca shareholders. China Fish has 35.8% of Copeinca shares & support from Copeinca shareholders. Await further development in this matter.]

Other report: http://www.reuters.com/article/2013/05/21/us-marineharvest-cermaq-idUSBRE94K0IB20130521

Victory for Marine Harvest, China Fishery as Cermaq votes against Copeinca deal

http://www.undercurrentnews.com/2013/05/21/victory-for-marine-harvest-china-fishery-as-cermaq-votes-against-copeinca-deal-2/

Good news for China Fish... hope for a better future...

this is a very " heavy" thread with all the information to be digested. Thank you to all the seniors who had contributed. It seems there is a war out there pitting cermaq and CF. already bought my tickets for a ring side view. If CF come out of this victorious, the outlook will clear up for this stock. In the meantime, i am camping here.

http://www.undercurrentnews.com/2013/05/21/marine-harvest-confirms-will-to-increase-cermaq-offer/#.UZs0MX3mjMI

http://www.undercurrentnews.com/2013/05/21/china-fishery-to-launch-new-maybe-higher-takeover-offer-for-copeinca-2/#.UZsqg33mjMI

Tomorrow evening we should know the outcome of Cermaq AGM - if Cermaq's acquisition of Copeinca would proceed or not. [As of now, the Norwegian Govt still supports the acquisition.]

A piece of good news for China Fish: Marine Harvest is willing to consider higher offer for Cermaq, and is planning talks with Norwegian government before May 21 Cermaq AGM...

Marine Harvest seeks Cermaq minority shareholders' support...

http://www.reuters.com/article/2013/05/15/marineharvest-cermaq-idUSL6N0DW19720130515

For your reading pleasure....

See Marine Harvest's response:

http://www.reuters.com/article/2013/05/15/marineharvest-cermaq-idUSWEB0057H20130515

Marine Harvest amends requirement of 66% acceptance from Cermaq shareholders on back of Norwegian Govt's rejection of its offer. Marine Harvest would instead only require the acceptance from 33.4% of all [Cermaq's] shareholders, given " the very positive reaction from the private shareholders of Cermaq to a bid being launched" .

[This update means China Fish still has chance to acquire Copeinca... ]

As expected, Norway govt backs Cermaq on Copeinca deal & rejects Marine Harvest.

http://www.reuters.com/article/2013/05/14/cermaq-government-urgent-idUSWEB0055220130514

Next event is Cermaq's AGM on 21 May 13. Wonder if there would be any surprising development to this acquisition fight?

Why is Cermaq so eager to acquire the valuable Copeinca?

http://news.yahoo.com/cermaq-asa-ceq-copeinca-acquisition-140202120.html

For your reading pleasure...

Take a look at the offer, the price should still be consider ok.

Peruvian Fishmeal quota

Peruvian Fishmeal Industries
Company	Quotas (%)
Tasa	14.10%
Copeinca	10.70%
Diamante	8.50%
Austral	6.90%
Hayduk	6.60%
China Fishery Group	6.20%
Exalmar	6.00%
Centinela	2.30%
Pacifico Centro	2.20%
Others	16.60%
Wood Fleet	19.90%

Copeinca (USD million)	2011	2012
Total Revenue	$254.50	$314.20
Net Income	$47.80	$49.60
Profit Margin	18.78%	15.79%


Total share issue	USD	Net Income/share NOK
58,500,000	0.847863248	4.913409915

Offer (NOK)	PE
59.5	12.10971627

As of now, I think the acquisition fight status is something like this...

China Fish Holding

Cermaq Holding

Remainder Holding

Remarks

Copeinca Shares

35.8%

51.3%

12.9%

1. China Fish's offer deadline: 23 May 13

2. Cermaq's offer deadline: 28 May 13

Marine Harvest Holding

Lansdowne Holding

Norwegian Govt Holding

Remainder Holding

Remarks

Cermaq Shares

5.44%

7.5%

43.5%

43.56%

1. Norwegian Parliament to vote to approve Cermaq rights issue on 14 May 13

2. Cermaq AGM to approve rights issue on 21 May 13

Wonder which side the remainder holding would incline to?

Wonder if Marine Harvest would up her offer for Cermaq?

Hmm...if remaining 15.67% vote against the rights...CF will hv the upperhand!

Lansdowne, second biggest shareholder in Cermaq, to vote against Cermaq's Copeinca deal

http://www.reuters.com/article/2013/05/10/cermaq-lansdowne-copeinca-idUSWEB004XJ20130510

A piece of good news for China Fish...

Thanks have a better understanding of the company operation.

Blanchard ( Date: 11-May-2013 11:07) Posted:

China Fish's announcement this morning. As of today, China Fish holds Copeinca Shares and rights to Copeinca Shares equal to approximately 35.8% of the Copeinca Shares and votes in Copeinca.

http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_D5A7EC2539054FF048257B6800017F13/$file/CFGL-Annc_Copeinca-11052013.pdf?openelement

Cheongsl, wonder if these announcements help? Thanks for helping us to understand more about China Fish.

1.http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_2C7D35355AA7033948257B6500230C33/$file/CFGL-2QFY2013_PressRelease.pdf?openelement

2.http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_39BDE8D4BAE17B2C48257AB6002464B3/$file/CFGL-LongTermSupplyAgreement-141112.pdf?openelement

3.http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_4C60A94CB7C4A37848257A3D003B6DF0/$file/CFGL-LongTermSupplyAgreement-160712.pdf?openelement