China Fishery Group proposed secondary listing on Oslo bors

July 2, 2010 10:34
Reference is made to the Company's announcements dated 21 January 2010, 12 February 2010, 18 February 2010, 26 February 2010, 26 March 2010, 20 April 2010, 30 April 2010 and 2 June 2010 in relation to the proposed secondary listing of all of its ordinary shares on the Oslo Børs of Norway, reports www.megafishnet.com with reference to China Fishery Group.

Unless otherwise defined, all capitalised terms used in this announcement shall bear the same meanings as in the Company's announcement dated 21 January 2010.

The Company wishes to announce that it has decided not to proceed with its Proposed Secondary Listing due to the current market sentiment in Europe.

Furthermore, the capital base of the Company will be strengthened pursuant to the proposed strategic investment of US$190 million by the Carlyle Group which was announced by the Company on 29 June 2010. The Company will be in a stronger financial position to fund business growth and investment opportunities as and when they arise.

The Company would like to thank the Oslo Bors, and the SGX-ST for their support, as well as the Company's various advisors for their hard work in progressing its Proposed Secondary Listing application.

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