Half Year Results

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“Looking ahead, although the reduction in total allowable catch of Peruvian anchovy is expected to impact the Group’s results in the second half of FY2013, the continued strength in fishmeal and fish oil prices is expected to mitigate this potential impact.” Mr. Ng Joo Siang, Group Managing Director of China Fishery, said.

On 26 February 2013, the Group announced a cash voluntary offer for all the outstanding issued shares of Copeinca ASA (the “Tender Offer”) and a 1-for-1 rights issue (the “Rights Issue”) to partially fund this acquisition. As of the date of this announcement, the Tender Offer remains on-going. As there is one other competing offer currently in the market, along with some recent developments related to the Tender Offer, the Board will continue to update the Shareholders and public investors on the progress of the Tender Offer and related corporate actions as and when appropriate.

The Rights Issue was successfully completed on 19 April 2013. A total of 1,294,480,241 shares have been subscribed in this issue, representing approximately 126.5% of  1,023,177,273 shares offered, raising approximately US$278 million after expenses. “This capital raising exercise has further increased the Group’s financial strength and provided capacity for its prospective investment opportunities in the future.“ Mr. Ng concluded.