1 Jul, 2011: Codfarmers and Atlantic Cod Farms to merge
Codfarmers ASA (COD) and Atlantic Cod Farms AS (ACF) have today entered into a letter of intent for the combination of the companies (the "Transaction"). The Transaction will be structured as a share for share exchange, under which the ACF shareholders will receive COD shares as consideration for their ACF shares. Based on the agreed exchange ratio and assuming 100% acceptance from the ACF shareholders, the COD shareholders and the ACF shareholders will own 51.1% and 48.9%, respectively, of the combined company.
Drugs discovered on board Greenlandic trawler Iceland
A fourth crew member of fishing vessel Polar Nanoq, which sails under the flag of Greenland, was arrested in the Icelandic port of Hafnarfjordur, after the police discovered a large quantity of hashish aboard.
Brussels validates Spanish fisheries control system Spain
The European Commission has notified Spain that it considers finalized the implementation of the action plan to remedy deficiencies in the Spanish fisheries control system, which was established by Decision of the EC on 30 July 2012.