The Scottish Salmon Company Ltd - FORCED TRANSFER OF SHARES (SQUEEZE-OUT)
The board of directors of The Scottish Salmon Company Ltd has today resolved to carry through a forced takeover (squeeze-out) of the remaining shares in Lighthouse Caledonia ASA not already owned by The Scottish Salmon Company Ltd, pursuant to section 4-25 of the Norwegian Public Limited Liability Companies Act, cf. section 6-22 of the Norwegian Securities Trading Act. Consequently, The Scottish Salmon Company Ltd is the owner of all issued and outstanding shares in Lighthouse Caledonia ASA.
The offer price per share under the forced transfer is NOK 0.33, which equals the share price quoted at the end of trading on Oslo Axess on 1 July 2010, and the offer price under the voluntary exchange offer made by The Scottish Salmon Company Ltd. The offered price for the Lighthouse Caledonia ASA shares to be transferred forcibly has been guaranteed by DnB NOR Bank ASA.
Shareholders may raise objections to, or reject, the offer price. If such objection/rejection has not been received by The Scottish Salmon Company Ltd within 22 September 2010 at 16:00 (CET) hours, the shareholder will be deemed to have accepted the offer price, cf. the Norwegian Public Limited Liability Companies Act, section 4-25. In absence of acceptance of the offer, the price may be fixed by valuation at the expense of The Scottish Salmon Company Ltd. Any objections or rejections should be sent to Kvale Advokatfirma DA, att. attorney Tore Jarl Hjelseth, P.O.Box 1752 Vika, N-0122 Oslo, Norway, telefax: +47 22 47 97 01. Written notice about the forced transfer is sent to the minority shareholders whose addresses are known.