Chairman of Omega Protein's Board of Directors Gary Goodwin stressed the importance of the strategic plan. (Photo: Stock File/FIS)
Omega Protein to review 'strategic alternatives'
(UNITED STATES, 9/29/2015)
Fish oil and nutritional product company Omega Protein Corporation has announced that it is in the process of a review of strategic alternatives to enhance shareholder value, including a possible share repurchase programme, sale, merger, spin-off or other separation of a selected business or other form of business combination or strategic transaction. J.P. Morgan Securities, LLC is serving as financial advisor in connection with this review.
"We are confident in our strategic plan and are encouraged by the progress that we have made in expanding our nutritional proteins and oils platform beyond menhaden," said Gary Goodwin, Chairman of the company's Board of Directors.
"At the same time, the Board of Directors and management team is committed to acting in the best interests of all of our shareholders and are actively seeking additional means to enhance shareholder value. We have determined that it is appropriate to conduct a strategic review with the assistance of our financial advisor that evaluates Omega Protein's long-term business plan against a broad range of alternatives that may have the potential to enhance shareholder value."
Omega Protein's Board of Directors has set no timetable for the strategic review process, and it has not made a decision to pursue any particular transaction.
In a press release, Omega Protein said there can be no assurance that the process described above will result in the consummation of any transaction or, if a transaction is undertaken, as to its terms, structure or timing.
The company does not intend to disclose or comment on further developments regarding the review of strategic alternatives unless and until the Board of Directors approves a specific action or otherwise concludes its review.
editorial@seafood.media
www.seafood.media
Information of the company:
Address:
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2105 City West Boulevard Suite 500
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City:
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Houston
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State/ZIP:
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Texas (77042-2838)
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Country:
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United States
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Phone:
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+1 713 623 0060
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Fax:
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+1 713 940 6166
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E-Mail:
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inquire@omegaproteininc.com
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More about:
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