"In
advance of Tuesday’s AGM, could you
please provide details of Cermaq’s current disease risks?" asks a letter sent today (19 May) to Cermaq's CEO Jon Hindar. "Why have you not notified shareholders including the Norwegian Government and Marine Harvest, financial investors, the news media and the Oslo Stock Exchange of the disease risks in British Columbia in particular? Surely the disclosure of disease risks and notification of information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act?"
Read the letter to Cermaq's CEO Jon Hindar in full online here
"Why
is Cermaq still ignoring disease risks associated with Infectious Salmon
Anaemia and Piscine Reovirus/HSMI in particular?" continues the letter. "Whether
the hostile takeover is successful or not, how does Cermaq view the financial
risks of the recently filed
lawsuit
in British Columbia against Marine Harvest by Alexandra Morton?"
"Is
Cermaq currently affected by Piscine
Reovirus/HSMI
in Norway, Chile or Canada?" asks the letter. "How
many of Cermaq’s sites are currently affected? In British Columbia, Piscine Reovirus and
Infectious Salmon Anaemia were reported dangerously close to
Cermaq’s operations at Creative Salmon in the Clayoquot Sound UNESCO Biosphere
Reserve by Dr. Kristi Miller at the Cohen Commission’s inquiry in December 2011. Friends
of Clayoquot subsequently called for the testing of Cermaq’s
farmed salmon. What results has Cermaq
found in your farmed salmon in Canada? Have
you informed your shareholders and investors of the disease risks?"
For more background on Piscine Reovirus/HSMI
please read a backgrounder and watch “A chicken virus in
farmed salmon?
"In view of the financial risks – especially in relation to the financial fallout and exposure to the lawsuit in British Columbia – why has Cermaq not notified the Oslo Stock Exchange in line with the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act?"
The letter concludes:
"Shareholders
deserve to hear the truth, the whole truth and nothing but the truth about Cermaq’s
salmon farming operations. It
may make for uncomfortable reading for investors but as Cermaq’s CEO surely it
is incumbent of you to be wholly transparent.
Please therefore adopt a policy of full disclosure in relation to
Cermaq’s disease risks and financial exposure to ongoing lawsuits. If nothing else, Marine Harvest ought to be
aware of the significant risks before their hostile takeover gets even nastier
for the environment and for everyone concerned."
Read the letter to Cermaq's CEO Jon Hindar in full online here
Previous letters raising disease risks were sent to Cermaq's CEO in May 2012 and May 2011
Read more on Cermaq's legal troubles in Canada via "Censorship Like A Cancer Grows"
Cermaq's Annual General Meeting takes place in Oslo, Norway, on Tuesday (21 May). The AGM is set to be a crucial battleground in deciding Marine Harvest's hostile takeover of Cermaq.
Read more on the mega-merger via:
- Round 7: Marine Harvest Piles on the Pressure!
- Round 6: Marine Harvest Vs Cermaq – The Gloves Are Off!
- Round 5: Final Battle of the Salmon Giants?
- Round 4: Cermaq Drops Guard on Marine Harvest Merger
- Round 3: Marine Harvest's Open Letter to Cermaq Shareholders
- Round 2: Marine Harvest's Counter-Punch for Cermaq?
- Clash of the Titans: Cermaq Vs Marine Harvest
- Mmm Mega-Marine Harvest: Super-Liced Salmon!
- Salmon Giant Eats Salmon Giant – Marine Harvest takeover of Cermaq!