Marine Harvest Group (MHG)

[wikast]

OK, Thanks!

[gfp927z]

Wikast, The move to the OTC was to save money since only 3% of their worldwide trading volume occurs in the US, and it costs the company a lot more to be listed on the NYSE than on the OTC -


>>> Only about 3 percent of the worldwide trading volume in the Shares (in the form of Shares or ADSs) in the past 12 months occurred in the United States while the costs of maintaining a NYSE listing and a registration under the Exchange Act are significant. The Board of Marine Harvest has therefore concluded that it is in the best interest of the shareholders to discontinue the US listing and terminate its reporting obligations in the US. <<<




>>> Marine Harvest ASA (OSE:MHG, NYSE:MHG): Intention to terminate New York Stock Exchange listing and deregister under the U.S. Securities Exchange Act of 1934


GlobeNewswire

February 15, 2017



http://finance.yahoo.com/news/marine-harvest-asa-ose-mhg-053348660.html



Marine Harvest ASA's Board of Directors resolved on 14 February 2017 to delist the Marine Harvest's American Depositary Shares ("ADSs"), each representing one ordinary share ("Share") of Marine Harvest, from the New York Stock Exchange ("NYSE") and to terminate the registration of the ADSs and Shares under the U.S. Securities Exchange Act of 1934 ("Exchange Act"). In the future, the Shares will continue to be listed on the Oslo Stock Exchange only.

Only about 3 percent of the worldwide trading volume in the Shares (in the form of Shares or ADSs) in the past 12 months occurred in the United States while the costs of maintaining a NYSE listing and a registration under the Exchange Act are significant. The Board of Marine Harvest has therefore concluded that it is in the best interest of the shareholders to discontinue the US listing and terminate its reporting obligations in the US.


Marine Harvest Chief Financial Officer Ivan Vindheim said: "The delisting and deregistration will enable us to simplify financial reporting processes, while maintaining the same high-quality IFRS compliant financial reporting and disclosures. Corporate governance will not be affected, as important governance bodies such as the Board Audit Committee will remain, in addition to an adequate level of internal controls. We will also maintain the same strong focus on serving our US investor base as we have had in the past."

Following the delisting and deregistration, Marine Harvest will continue to be subject to the rules of the Oslo Stock Exchange and other Norwegian and European Union financial market regulations.

Marine Harvest intends to initiate the delisting process promptly after the date of this stock exchange release. Subject to applicable laws and the NYSE rules, Marine Harvest intends to complete the delisting and deregistration as promptly as practicable thereafter.

Marine Harvest intends to maintain its ADR program as a Level 1 Sponsored program and Citibank will remain as the Depositary. Accordingly, following delisting, Marine Harvest's ADSs will be traded in the US over-the-counter. Marine Harvest has not arranged for the listing of its ADSs or the Shares on another national securities exchange in the US or for the quotation of its ADS's or the Shares in a quotation system in the US.

For further information, please contact:
Ivan Vindheim, CFO, Mobile: [phone]
Kim Galtung Døsvig, IR Officer & Head of Treasury. Mobile: [phone]

This information is subject of the disclosure requirements pursuant to section of 5-12 of the Norwegian Securities Trading Act.

<<<

[wikast]

Why has MHG been delisted on the NYSE and is now OTC?

[gfp927z]

Marine Harvest - >>> Record high operational EBIT for Marine Harvest


GlobeNewswire

February 15, 2017



http://finance.yahoo.com/news/record-high-operational-ebit-marine-053222976.html



(Oslo, 15 February 2017) Marine Harvest achieved an operational EBIT of EUR 259 million in the fourth quarter of 2016, compared to EUR 90 million in the corresponding quarter of 2015.

Supported by the good results, a strong forward market, and a solid financial position, the Board has resolved a quarterly dividend of NOK 2.80 per share.

- Driven by high salmon prices on strong demand and reduced supply, we achieved record high operational results in the fourth quarter. It is very encouraging to see strong operational performance in all our entities, says CEO Alf-Helge Aarskog.

Marine Harvest also achieved an all-time high operational EBIT for the full year of EUR 700 million, compared to EUR 347 million in 2015.

- 2016 was a great year for Marine Harvest, with both record earnings and cash flow generation. I am very proud of the work all our colleagues have put in to achieve these results, Aarskog adds.

Marine Harvest Group reported operational revenues of EUR 1,018 million (EUR 867 million) in the fourth quarter of 2016. Total harvest volume was 99 634 tonnes in the quarter (110 551 tonnes). Harvest guidance for 2017 is 403 000 tonnes, which is in line with the previous guidance.

Salmon of Norwegian origin achieved an operational EBIT per kilo of EUR 2.70 (1.47) in the fourth quarter, while salmon of Scottish and Canadian origin reported operational EBIT per kilo of EUR 1.83 and EUR 3.33 respectively (EUR -0.30 and EUR 0.36). Salmon of Chilean origin reported operational EBIT per kilo of EUR 2.61 in the quarter (EUR -1.31). MH Consumer Products reported an operational EBIT of EUR 22.9 million (EUR 9.8 million). MH Feed reported an operational EBIT of EUR 10.8 million (EUR 8.0 million).

- We continue to strengthen the efforts in North America, with the new Dallas plant opening at the end of the fourth quarter and a new value-added facility opening in British Columbia in the end of the second quarter of 2017. Marine Harvest is also nominated to purchase farming assets on the East Coast of Canada, which in the future can further strengthen our supply to the North American market, says Aarskog.

For further information, please contact:
Ivan Vindheim, CFO, Mobile: [phone]
Kim Galtung Døsvig, IR Officer & Head of Treasury, Mobile: [phone]

About Marine Harvest Group
Marine Harvest Group is the world's leading seafood company and largest producer of farmed salmon, with presence in 24 countries and a total of 12 400 employees worldwide. The company is headquartered in Bergen, Norway, and is listed on the Oslo Stock Exchange and New York Stock Exchange (NYSE).

Please see www.marineharvest.com for further information.

<<<

[EMTPstock]

Up 5% today. Not bad.

[EMTPstock]

Seems to be doing very well. The dividend, has been very consistent around .16 cents per share every quarter.

[EMTPstock]

Stock went down quite a bit today, not sure why.

[EMTPstock]

I wish I had gotten some more as well. The dividend it self is worth it. I am trying to make an effort to learn more about the whole industry. In the last few years I have noticed the frozen seafood section triple in size in my local grocery store.

[Slimbohab]

I got in after your first post emtpstock. Did some reading and here we are 40% higher. Loving this stock. It just chugs and chugs. Just wish i would have gotten some more. Or that it ever dipped for that matter!

[EMTPstock]

Not only does this stock pay a good yield, but there is significant potential for growth. Been to the grocery store recently? The price of meet is through the roof.

In my local grocery store I continue to see a larger section dedicated to seafood.

[EMTPstock]

Hello investors,

I am EMT, my I-hub handle is emtpstock. I created this board because I am interested not just in Marine Harvest Group but in the fish farming industry.

I recently attended a discussion at the University of Florida with a panel of subject matter experts on the subject of the fishing industry and fish farming. It was there where I heard a few of the panelist discuss the impending global protein shortage and how that need would have to be filled with an increase in farming fish.

Naturally I translate this to which stock can I buy that captures a sudden spike in this market. I stumbled upon MHG.

The more I read about this company, and I admit it has not been as much as I would like. The more I notice a good dividend, and a strong starting position in a soon to be larger market.

My concerns are my lack of information.

Any thoughts?