China Fishery Group proposed secondary listing on Oslo bors

March 26, 2010 08:34
Reference is made to the Company's announcements dated 21 January 2010, 12 February 2010, 18 February 2010 and 26 February 2010 in relation to the proposed secondary listing of all of its ordinary shares on Oslo Bors of Norway, reports 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 26 February 2010.

Following a decision to move the target timing for its Proposed Secondary Listing, the Company re-submitted its Proposed Secondary Listing application to Oslo Bors on 25 February 2010, Norway time ("Re-submitted Application"). The original application submitted on 20 January 2010, Norway time, which was approved by Oslo Bors on 17 February 2010, was withdrawn at the same time following consultations with Oslo Bors.

The Board of Directors of the Company is pleased to announce that the Company's Re-submitted Application has been approved by the board of directors of Oslo Bors on 25 March 2010, Norway time.

The Company was granted an exemption from the requirements of the composition of the board specified in Section 2.3.6 of the Oslo Listing Rules. The admission to listing on Oslo Bors is subject to the condition that prior to the first day of listing on Oslo Bors:-

1. the Company must satisfy the requirement for at least 25% of the shares of the Company ("Shares") to be admitted to listing to be held by the general public as required by Section 2.4.1 of the Oslo Listing Rules;

2. the Company must have at least 200 holders of Shares ("Shareholders") and each Shareholder must hold Shares worth at least NOK 10,000 that are registered with a securities registry authorised pursuant to Section 3-1 of the Securities Register Act;

3. the Company publishes an approved prospectus; and

4. the Company enters into a standard listing agreement with Oslo Børs pursuant to Section 9.2 of the Oslo Listing Rules.

The first day of listing of the Shares on the Oslo Børs shall be a date not later than 19 May 2010.

Further announcement(s) in relation to the Proposed Secondary Listing will be made as and when appropriate. Shareholders and other investors are reminded to exercise caution when dealing in the Shares as the Proposed Secondary Listing may or may not proceed. In the event that Shareholders and other investors are in doubt when dealing in the Shares, they should consult their stockbrokers, bank managers, solicitors, accountants or other professional advisers.

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