Norwegian halibut producerNordic Seafarms is proposing to cut its share capital by two-thirds to free upcapital needed for expansion.
The proposal follows slowergrowth than expected in 2011, with low sea temperatures causing a growthshortfall of around 250 metric tons.
The company’s shareholders willvote on the proposal at an extraordinary general meeting on Feb. 16.
Under the plan, NordicSeafarms would slash its share capital from NOK 138 million (€18.3million/$24.1 million) to NOK 46 million (€6.1 million/$8 million).
The amount freed up by thetransaction, NOK 92 million (€12.2
