Board of AKVA Group feels mandatory offer price on the low side

AKVA Group’s (OSE: AKVA) Board of Directors (excluding Frode Teigen) released its opinion on mandatory offer price of 11 NOK for all outstanding shares of AKVA Group put forward by Frode Teigen via Kontrari AS. The Board asked First Securities AS’s opinion as financial adviser. First Securities is off the opinion that the offer price is low. AKVA’s board concludes that it un unanimously recommends shareholders not to accept the offer but that shareholders who choose not to accept should be in with a long term perspective, particularly in light of the fact that the share is very illiquid.