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The Scottish Salmon Company’s new majority owner, Bakkafrost, has announced a mandatory offer the 19.23% of the company that it doesn’t already own.

The offer price is NOK 28.25 per share, which is the highest price paid by the Faroese salmon farmer for SSC’s depositary receipts and common shares during the last six months.  

The offer period commences on November 11 and ends at 18:00 CET on December 9, 2019, subject to possible extensions of up to two weeks.

An offer document will be sent to all owners of depositary receipts recorded in the VPS, which operates the Norwegian central securities depository, and all owners of common shares registered in SSC’s register of members.

Bakkafrost intends to de-list SSC from the Oslo Stock Exchange if it acquires 100% of shares in the company.