Morpol seeks holder approval to avoid put option on notes due 2014

By Susanna Moon

Chicago, April 30 - Morpol ASA will hold a bond meeting on May 16 in Oslo to ask holders to change the definition of "change of control" under its senior bonds due 2014.

The bonds became putable under a change-of-control clause when Marine Harvest ASA acquired 87.09% of the shares on March 25, according to a notice by trustee Norsk Tillitsmann ASA.

The company is seeking to change the definition of change of control to occur when a person or group, other than Friendmall Ltd. or Marine Harvest, becomes the owner of more than 50% of issued shares or voting rights of the issuer.

Morpol is an Oslo-based producer of smoked salmon products.

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