China Fishery/ Pac Andes

China Fishery/ Pac Andes: China Fishery has announced that the call option for an 8.97% stake in Copeinca ASA has not been effected due to a breach in terms from the seller. This takes China Fishery's takeover bid of Peru-based Copeinca from an effective control from 74.23% to 65.26%. The latest offer from China Fisheries to shareholders of Copeinca is at NOK68.17 per share. China Fishery plans to begin legal proceedings against Veramar Azul for failing to transfer its 6.3m shares of Copeinca for NOK376m (based on NOK59.70 per share), despite having agreed upon earlier in the week.