Salmones Austral cancels $47.7 million capital increase

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The board of directors of Salmones Austral has decided to voluntarily cancel the registration of the company and its shares in the Registry of Securities of the Commission for the Financial Market (CMF).

“Given that it is not possible to extend the period to materialize the Public Offering of Actions, we have chosen to voluntarily delist from the CMF registry. Notwithstanding this, it is necessary to point out that this is transitory, because the company maintains its plans to go public in 2023”, explained Christian Samsing, vice president of Salmones Austra, said in a press release.

“The prospects for the salmon industry are auspicious in the short and medium term. In fact, we expect to end 2022 with positive results, thanks to the reactivation of the Horeca channels – hotels, restaurants and catering – and to the rise in the price of salmon,” Samsing said.

In addition to the voluntary cancellation of registration with the CMF, the board of directors also determined to nullify the capital increase for USD $47.7 million divided into 250 million registered shares that had been agreed at the Extraordinary Shareholders’ Meeting held on October 29, 2019.

“Although we will not carry out the capital increase, this does not mean that we will put put our plans on hold. On the contrary, we have decided to continue with our investment program and productive improvements”, said Samsing.

The board of directors summoned an Extraordinary Meeting for August 30, where shareholders will vote on both issues, as well as all complementary and necessary matters for the implementation of the agreements of the board, including amendments to the bylaws that eliminate the obligation to be subject to the rules of open corporations and supervision of the Commission for the Financial Market.