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Scottish Salmon Company owners review offers for firm

Net gains: Investors have made offers for all or part of SSC, whose products include Native Hebridean Salmon. Photo: SSC.
Net gains: Investors have made offers for all or part of SSC, whose products include Native Hebridean Salmon. Photo: SSC.

The owners of the Scottish Salmon Company are considering several non-binding offers to buy all or part of the company, it was revealed today.

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Jersey-based holding company Scottish Salmon Company PLC, which owns the Edinburgh-headquartered Scottish Salmon Company Ltd (SSC), said the offers were being considered as part of an ongoing strategic review.

In a market update on the review, the PLC stated: “Among the options being considered within the framework of the Review are several formal, non-binding expressions of interest to purchase part or all of the Company that have been received by the Company via its financial advisor Daiwa Corporate Advisory Limited.

SSC chief executive Craig Anderson was recently named as a transformational leader in entrepreneur awards.
SSC chief executive Craig Anderson was recently named as a transformational leader in entrepreneur awards.

‘Non-public information’

“As part of this process, the Company will allow selected parties access to non-public information. No assurance can be given that any specific outcome will be proposed or completed as a result of this process.”

The company said it envisaged the review to be completed by September, and does not expect to disclose further information on the development of the review “until the process has been completed or terminated, or if a disclosure is required in order to comply with applicable laws and regulations”.

Shares in the PLC rose by NOK 2.55 (11.83%) to NOK 24.10 on the Oslo stock exchange today compared to their closing price on Friday.

The Scottish Salmon Company Ltd produces up to 30,000 tonnes of Atlantic salmon annually on the west coast and the Hebrides.

It has 43 marine sites, 11 freshwater sites and two processing plants, and employs more than 600 people.

SSC’s chief executive, Craig Anderson, was last month named as a Transformational Leader of the Year at the EY Entrepreneur of the Year Awards Scotland.

Around 72% of the PLC’s shares are held by SIX SIS AG, a Swiss company which serves the Swiss financial centre as the central securities depository (CSD) for assets and documents. The 140.6 million shares are believed to be linked to Ukrainian businessman Yury Lopatinsky, who also owns a number of properties in Edinburgh.

The second-largest holding of 12.3 million shares is owned by Norwegian company Teigan. 

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